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:
|
31 March 2021 Actual £’000 |
2021/22 Movement £’000 |
31 March 2022 Actual £’000s |
Total borrowing |
55,967 |
(2,768) |
53,199 |
Total investments |
(18,625) |
(3,564) |
(22,189) |
Net borrowing |
37,342 |
(6,332) |
31,010 |
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.
Decision type: Non-key
Decision status: Recommendations Approved
Decision due: 5 Sep 2022 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Deputy Chief Executive Officer
Contact: Caroline Hancock Email: chancock@fareham.gov.uk.