Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides the Executive with details of the capital and treasury management outturn for 2019/20 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 2019/20 was £16,496,896 (£3.5 million in 2018/19) compared with the revised capital programme of £17,324,000. The overall variance was £827,104 and a detailed analysis of the variations is given in Appendix A to this report.
Total savings of £214,924 were achieved, additional expenditure of £67,363 was incurred and a total of £679,543 will be carried forward into 2020/21. 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 2019/20 are also set out in this report. Treasury activity in 2019/20 is summarised below:
|
31 March 2019 Actual £’000 |
2019/20 Movement £’000 |
31 March 2020 Actual £’000 |
Total borrowing |
45,510 |
12,149 |
57,659 |
Total investments |
(13,100) |
(3,200) |
(16,300) |
Net borrowing |
32,410 |
8,949 |
41,359 |
Net interest received in 2019/20 was £603,316 (£481,480 in 2018/19) and net interest paid was £1,676,656 (£1,728,219 in 2018/19).
During 2019/20, the Council complied with its legislative and regulatory requirements of the Prudential Code.
RESOLVED that the Executive:
(a) approves the General Fund capital programme for 2019/20 to be financed as set out in this report;
(b) agrees that the additional expenditure incurred, amounting to £67,363 be financed retrospectively from unallocated capital resources; and
(c) notes the treasury management activity for 2019/20.
Report author: Caroline Hancock
Publication date: 03/08/2020
Date of decision: 03/08/2020
Decided at meeting: 03/08/2020 - Executive
Effective from: 15/08/2020
Accompanying Documents: