Decision details

Minimum Revenue Provision Policy Statement - Revision

Decision Maker: Cabinet

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To approve the revision to the minimum revenue policy statement.

Decisions:

Resolved to RECOMMEND:  (to Council)

 

That, in respect of Capital Expenditure incurred before 1 April 2008,  the Minimum Revenue Provision Policy be revised to read:

 

For capital expenditure incurred before 1 April 2008 or which in the future would be Supported Capital Expenditure, the Minimum Revenue Provision Policy be the equal annual reduction of 2% of the outstanding debt at 1 April 2015 for the subsequent 50 years.

 

Reason for Decision:  To make the Council’s Minimum Revenue Provision Policy more prudent and to create further capacity in the General Fund.

 

Alternative Options Considered and Rejected:  As set out in the report.

 

Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted:  None.

 

[Call-in does not apply to decisions that are reserved to Council.]

Report author: Dawn Calvert

Publication date: 11/12/2015

Date of decision: 10/12/2015

Decided at meeting: 10/12/2015 - Cabinet

Accompanying Documents: