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Decision details

Capital and Treasury Management Outturn 2017/18

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

This report provides the Executive with details of the capital and treasury management outturn for 2017/18 to comply with the reporting requirements of the Code of Practice for Treasury Management.  The report also seeks approval for the proposed methods of financing the General Fund capital programme.

 

Actual capital expenditure on General Fund schemes in 2017/18 was £23,295,118 compared with the revised capital programme of £24,405,900.  The overall variance was £1,110,782 and a detailed analysis of the variations is given in Appendix A to this report.

 

Total savings of £79,516 were achieved, additional expenditure of £133,275 was incurred and a total of £1,164,541 will be carried forward into 2018/19.  Details of the various methods used to finance this expenditure are set out in this report.

 

Full details of Treasury Management investment and borrowing activity in 2017/18 are also set out in this report.  Treasury activity in 2017/18 is summarised below:

 

 

31 March 2017

Actual

£’000

2017/18 Movement

£’000

 31 March 2018

Actual

£’000

Total borrowing

41,835

10,182

52,017

Total investments

(15,000)

3,000

(12,000)

Net borrowing

26,835

13,182

40,017

 

Net interest received in 2017/18 was £417,911 and net interest paid was £1,742,168.

 

During 2017/18, the Council complied with its legislative and regulatory requirements of the Prudential Code.

 

 

Decision:

RESOLVED that the Executive:

 

(a)  approves that the General Fund capital programme for 2017/18 be approved and financed as set out in this report;

 

(b)  agrees that the additional expenditure incurred, amounting to £133,275 be financed retrospectively from surplus capital resources; and

 

(c)  notes the treasury management activity for 2017/18.

Report author: Caroline Hancock

Publication date: 11/07/2018

Date of decision: 09/07/2018

Decided at meeting: 09/07/2018 - Executive

Effective from: 21/07/2018

Accompanying Documents:

 

 




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