Decision details

Further to Minute No. 109 of the Cabinet meeting held on 16 February 2012, the Council considered the report of the Head of Corporate Finance and ICT 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.

It was moved by Councillor P. Dowd, seconded by Councillor Maher 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 2012/13 Revenue Budget; and

(3)            delegated authority being granted to the Head of Corporate Finance and ICT to manage the Authorised Limit and Operational Boundary for external debt as detailed in Section 5 of the report.