Decision details

This report provides the Executive with details of the capital and treasury management outturn for 2021/22 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 and a capital budget to fund short term asset management works at the Council Deport.

Actual capital expenditure on General Fund schemes in 2021/22 was £12,100,250 (£5.5 million in 2020/21) compared with the revised capital programme of £12,487,600.  The overall variance was £387,350.  A detailed analysis of the variations is given in Appendix A to the report.

Additional expenditure of £33,971 was incurred and a total of £421,051 will be carried forward into 2022/23.  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 2021/22 are also set out in this report and is summarised below:

Net interest received in 2021/22 was £637,078 (£661,684 in 2020/21) and net interest paid was £1,673,288 (£1,684,440 in 2020/21)

The investment property portfolio increased in value by £8 million mainly due to the recovery in the investment market following COVID 19 and contracted income was approximately £4,775,000.

RESOLVED that the Executive:

(a)  approves the General Fund capital programme for 2021/22 to be financed as set out the report;

(b)  agrees that the additional expenditure incurred, amounting to £33,971 be financed retrospectively from unallocated capital resources;

(c)  agrees that a capital budget of £224,500 is allocated to fund short term asset management works at the Council Depot; and

(d)  notes the treasury management activity for 2021/22.