Decision details

Review of the Corporate Capital Programme 2018/19

Decision Maker: Executive

Decision status: Recommmend Forward to Council

Is Key decision?: Yes

Is subject to call in?: No

Decisions:

The Executive received a report detailing the capital outturn for 2018/19 and requesting approval for any carry forward of budgets into the 2019/20Capital Programme. Actual capital expenditure during 2018/19 had been £52.131 m.

 

RECOMMENDED to Full Council that

 

(i)        the carry forward budget provision of £36,026,300 from 2018/19 into 2019/20 be approved;

 

(ii)      the revised 2019/20 Capital Programme of £38,374,300 be noted;

 

(iii)     an increased operational boundary and authorised borrowing limits following the decision to build a replacement leisure centre of £245m and £250m be approved; and

 

(iv)     a revised set of Prudential Indicators for 2019/20 to 2021/22 be approved, as follows:

 

 

Prudential Indicator

2019/20

Estimated

£m

2020/21

Estimated

£m

2021/22

Estimated

£m

Capital Expenditure

38.4

0.64

0.6

Capital Financing Requirement

225

221

217

Ratio of net financing costs to net revenue stream

23.2%

36.7%

34.2%

Financing Costs

2.52

4.12

3.90

Operational Boundary

245

245

245

Authorised Limit

250

250

250

 

The Executive RESOLVED to note that the Capital Financing Requirement for Council, as at 31 March 2020, be estimated to be £225m and as such a Minimum Revenue Payment of £2.5m is required.

 

 

Report author: Adrian Flynn

Publication date: 08/07/2019

Date of decision: 18/06/2019

Decided at meeting: 18/06/2019 - Executive

Accompanying Documents: