Decision details

The Council considered the report of the Acting Finance and Information Services Director on proposals to establish the Prudential Indicators required under the Prudential Code of Capital Finance in Local Authorities.  This would enable the Council to effectively manage its Capital Finance Activities, and comply with the Chartered Institute of Public Finance and Accountancy Prudential Code of Capital Finance in Local Authorities.

At its meeting held earlier that day, the Cabinet had considered the report and endorsed the recommendations set out in the report.

It was moved by Councillor Robertson, seconded by Councillor Brodie-Browne and

RESOLVED:

That approval be given to:

(1)       the Prudential Indicators detailed in the report, and summarised in Annex A, as the basis for compliance with The Prudential Code for Capital Finance in Local Authorities;

(2)       the amendment of relevant Prudential Indicators in the event that any unsupported borrowing is approved as part of the 2010/11 Revenue Budget; and

(3)            delegated authority being granted to the Acting Finance and Information Services Director to manage the authorised Limit and Operational Boundary for external debt as detailed in Section 5 of the report.