Decision details
Review of the Corporate Capital Programme 2018/19
Decision Maker: Executive
Decision status: Recommendations Approved
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: