Issue - meetings

Report of the Executive Director of Corporate Resources and Customer Services

The Committee considered the report of the Executive Director of Corporate Resources and Customer Services, which explained that the CIPFA Prudential Code for Capital Finance in Local Authorities was introduced following the Local Government Act 2003; and detailed measures / limits / parameters (Prudential Indicators) that were required to be set each financial year; and that the approval of these limits would provide a benchmark to measure actual performance against, to help ensure that the Council complied with relevant legislation, was acting prudently and that its capital expenditure proposals were affordable.

The report went on to explain that the Council was required to approve Prudential Indicators for the following items:

(i)     Capital Expenditure;

(ii)    Financing Costs/Net Revenue Stream;

(iii)   Capital Financing Requirement;

(iv)  External Debt;

(v)    Treasury Management Indicators.

These indicators were presented in the following within the report and summarised at annexe A.

The report concluded that having established the Prudential Indicators, the Executive Director for Corporate Resources and Customer Services would monitor them during the year and report on actual performance to the Audit and Governance Committee on a quarterly basis; and that an outturn report of performance against the Prudential Indicators would be presented to both Cabinet and Council following the financial year end.

This report would also be considered by Cabinet and Council at their meetings to be held on 10 February and 3 March 2022 respectively.

The report concluded by seeking comments to Council which will be considered as part of the formal approval of the Prudential Indicators for 2022/23.

A Member sought information on how the Council would administer the recently announced £150 council tax rebate for those in England whose homes were in council tax bands A to D.

RESOLVED: That