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Issue - meetings

Capital Strategy 2022/23

Meeting: 23/02/2022 - Cabinet (Item 84)

84 Capital Strategy 2022/23

This report sets out the Council’s proposed strategy in relation to capital expenditure, financing and treasury management in 2022/23 to be approved by full Council. The report also sets out the Prudential Indicators for capital expenditure and the Minimum Revenue Provision Statement for 2022/23 to be approved by full Council.

Supporting documents:

Minutes:

The report set out the Council’s proposed strategy in relation to capital expenditure, financing and treasury management in 2022/23 to be approved by full Council. The report also set out the Prudential Indicators for capital expenditure and the Minimum Revenue Provision Statement for 2022/23 to be approved by full Council.

 

Proposed by Councillor Monk,

Seconded by Councillor Peall; and

 

 

RESOLVED:

1.     That report C/21/83 be received and noted.

2.     To recommend to Council that the 2022/23 Capital Strategy, including the Prudential Indicators, set out in appendix 1 to this report is approved.

3.     To recommend to Council that the Minimum Revenue Provision (MRP) Statement for 2022/23 set out in appendix 2 to this report is approved

(Voting figures: 7 for, 2 against, 0 abstentions)

 

REASONS FOR RECOMMENDATIONS:

Cabinet was asked to agree the recommendations set out because:-

 

a)   The Council must have regard to both CIPFA’s Prudential Code for Capital Finance in Local Authorities and the Department for Levelling Up, Housing and Communities’ Investment Guidance when carrying out its duties under Part 1 of the Local Government Act 2003.

b)    The Council is required to approve a Capital Strategy for the forthcoming year.

c)    The Council is required to approve a Minimum Revenue Provision statement for 2022/23 in advance of the start of the financial year.