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.
Decision type: Non-key
Decision status: Recommendations Approved
Decision due: 3 Aug 2020 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Deputy Chief Executive Officer
Contact: Caroline Hancock Email: chancock@fareham.gov.uk.