The Executive RECOMMENDED to Full Council that:
(i) the new capital bids for £1.241m for 2021/22, as set out at Annex A to the agenda report, as amended, be approved and that they be incorporated into the Capital Programme;
(ii) The Prudential Indicators summarised below and explained in Annex C of the agenda report, as amended, including the MRP statement, for 2021/22 to 2023/24 in accordance with the requirements of the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Prudential Code for Capital Finance in Local Authorities 2011 be approved.
|
Prudential Indicator |
2021/22 Estimated £m |
2022/23 Estimated £m |
2023/24 Estimated £m |
|
Capital Expenditure |
1.241 |
0.78 |
0.78 |
|
Capital Financing Requirement |
182 |
179 |
176 |
|
Ratio of net financing costs to net revenue stream |
19.2% |
18.7% |
18.2% |
|
Financing Costs |
2 |
2 |
2 |
|
Operational Boundary |
230 |
230 |
230 |
|
Authorised Limit |
235 |
235 |
235 |
The Executive RESOLVED to note
(i) the Capital Financing Requirement for this Council as at 31 March 2022 is estimated to be £182m and as such a Minimum Revenue Payment of £2.3m is required
(ii) the provisional Capital Programme for 2021/22 to 2023/24; and
(iii) The available capital receipts forecast shown in Annex C to the agenda report.