Decision Maker: Cabinet, Council
Decision status: Recommendations approved
Is Key decision?: No
Is subject to call in?: No
1. That the revised medium term General Fund capital programme of £314.5 million, an increase of £14.5 million from the previously approved programme, reflecting the latest projected expenditure for the medium term be approved.
2. That the additional resources for twelve new and eight existing General Fund projects totalling £14.5 million be approved.
3. That the authorised borrowing limit for 2017/18 as required under Section 3(1) of the Local Government Act 2003 be set at £1,024.1 million (PI 5, appendix C) be approved.
4. That the Treasury Management Strategy Statement 2017/18 as set out in appendix A to the Cabinet report be approved.
5. That the Annual Investment Strategy 2017/18 as set out in appendix B to the Cabinet report be approved.
6. That the Prudential and Treasury Management Indicators as set out in appendix C to the Cabinet report be approved.
7. That the Annual Minimum Revenue Provision (MRP) Statement setting out the method used to calculate MRP for 2017/18 onwards as set out in appendix D to the Cabinet report be approved.
8. That the Treasury Management Policy Statement and Treasury Management Practices as set out in appendix F to the Cabinet report be approved.
9. That authority continues to be delegated to the Director of Finance to amend the Treasury Management Policy and Practices and any corresponding changes required to the Treasury Management Strategy, the Prudential and Treasury Management Indicators, the Investment Strategy and the Annual MRP Statement to ensure they remain aligned. Any amendments will be reported to the Cabinet Member for Resources and Cabinet (Resources) Panel as appropriate.
(a) £631,275,000 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(2) of the Act.
(b) £540,338,000 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(3) of the Act.
(c) £90,937,000 being the amount by which the aggregate at 3(a) above exceeds the aggregate at 3(b) above, calculated by the Council in accordance with Section 31A(4) of the Act as its Council Tax requirement for the year. (Item R in the formula in Section 31B of the Act).
(d) £1,481.12 being the amount at 3(c) above (Item R), all divided by Item T (section 1 above), calculated by the Council, in accordance with Section 31B of the Act, as the basic amount of its Council Tax for the year (including Parish precepts).
(e) £0 being the aggregate amount of all special items (Parish precepts) referred to in Section 34(1) of the Act.
(f) £1,481.12 being the amount at 3(d) above less the result given by dividing the amount at 3(e) above by Item T (1(a) above), calculated by the Council, in accordance with Section 34(2) of the Act, as the basic amount of its Council Tax for the year for dwellings in those parts of its area to which no Parish precept relates.
24.That it be noted as a result of the changes to the MRP policy approved and implemented during 2014/15, the MRP charge for financial year 2017/18 will be zero increasing to £8.2 million in 2018/19.
25.That it be noted Cabinet (Resources) Panel and Council will receive regular Treasury Management reports during 2017/18 on performance against the key targets and Prudential and Treasury Management Indicators in the Treasury Management Strategy and Investment Strategy as set out in appendices B and C to the Cabinet report.
Publication date: 02/03/2017
Date of decision: 01/03/2017
Decided at meeting: 01/03/2017 - Council
Accompanying Documents: