Issue - meetings
TREASURY MANAGEMENT STRATEGY - REVIEW OF THE MINIMUM REVENUE PROVISION
Meeting: 16/11/2015 - Executive (Item 50)
50 TREASURY MANAGEMENT STRATEGY - REVIEW OF THE MINIMUM REVENUE PROVISION 
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To consider a report of the Executive Member for Finance and Director of Finance.
Decision:
That it be recommended to Council that with effect from 1 April 2015:
a) the Council’s MRP policy, paragraph (a) only, be amended to, “For capital expenditure incurred before 1 April 2008: MRP will be calculated on an straight line basis over the expected average useful life of the assets”;
b) the annual PFI lease charge be financed from the provision currently set-up to cover the final bullet payment and that capital receipts be used to replenish this provision to ensure this can still be made in 2028/29.
Minutes:
The Executive Member for Finance and Director of Finance submitted a report outlining the recent review undertaken of the Council’s annual Minimum Revenue Provision (MRP) charge to the revenue budget in respect of capital expenditure financed by borrowing. An opportunity was provided for Members to ask questions regarding the options as set out in the report.
RESOLVED - That it be recommended to Council that with effect from 1 April 2015:
a) the Council’s MRP policy, paragraph (a) only, be amended to, “For capital expenditure incurred before 1 April 2008: MRP will be calculated on an straight line basis over the expected average useful life of the assets”;
b) the annual PFI lease charge be financed from the provision currently set-up to cover the final bullet payment and that capital receipts be used to replenish this provision to ensure this can still be made in 2028/29.
