The Portfolio Holder for Finance presented a report from the Head of Finance, Governance and Assurance [s151 Officer] on the revised Minimum Revenue Provision Statement following the recent review.

RESOLVED:

i)             That all the options modelled for the revision of the calculation of MRP charges in relation to supported borrowing be considered.

ii)            That the use of Option C3 (use a 45-year annuity method and apply Adjustment A from 2018/19) to calculate MRP charges in relation to supported borrowing be approved.

iii)           That the £2.217m saving generated in 2018/19, be ringfenced to fund the Digital Transformation Programme.