Issue - meetings
Review of Regulatory Minimum Revenue Provision (MRP)
Meeting: 04/08/2015 - Corporate, Resource Management & Governance Scrutiny Committee (Item 8)
8 Review of Regulatory Minimum Revenue Provision (MRP) 
PDF 119 KB
To consider a report of the Corporate Director for Corporate and Support Services.
The purpose of this report is to set out the case for changing the method of provision for ‘previously supported borrowing’ to one which is arguably more prudent (on a whole life basis) than the current approach.
The Scrutiny Committee is invited to recommend that the Council Meeting amend the 2015/16 Minimum Revenue Provision (MRP) Policy Statement to enable the Council to provide for MRP on previously supported General Fund borrowing in equal annual instalments over a 50 year period commencing 1 April 2015.
Officer contact Andy Moran on telephone number Tel: 0161 474 4086 or alternatively email andrew.moran@stockport.gov.uk
Additional documents:
Minutes:
The Corporate Director for Corporate and Support Services submitted a report (copies of which had been circulated) setting out the case for changing the method of provision for ‘previously supported borrowing’ to one which was arguably more prudent (on a whole life basis) than the current approach.
The Deputy Executive Leader and Portfolio holder for Support & Governance (Councillor Iain Roberts) attended the meeting to answer members’ questions.
RESOLVED – That the Council Meeting be recommended to give approval to amendments to the 2015/16 MRP Policy Statement to enable the Council to provide for MRP on previously supported General Fund borrowing in equal annual instalments over a 50 year period commencing1 April 2015.