Bracknell Forest Council
Record of Decision
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Work Programme Reference
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I100414 |
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1. |
TITLE: |
Capital Expenditure Outturn 2020/21
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2. |
SERVICE AREA: |
Resources
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3. |
PURPOSE OF DECISION
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To note the outturn position for the year and approve carry forward requests.
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IS KEY DECISION |
Yes
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5. |
DECISION MADE BY: |
Executive Member for Transformation & Finance
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6. |
DECISION:
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1 That the outturn capital expenditure be noted.
2 That the carry forward of £25.007m from the 2020/21 capital programme to 2021/22 be approved.
3 That the financing of capital expenditure be noted.
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7. |
REASON FOR DECISION
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Many of the projects for which funding has been carried forward are either close to being completed or are contractually committed and underway.
As a result of the capital expenditure in 2020/21 the Council had an overall capital financing requirement (CFR) of £214.6m on 31 March 2021. The Council will provide for the repayment of this through the minimum revenue provision. The CFR represents the underlying need to borrow to fund capital expenditure that cannot be financed from other income sources. However, the actual need to borrow at any particular time is determined by the Council’s overall cashflow requirements. The actual level of borrowing at the end of March 2021 was £80m with investments of £20.3m totalling net debt of £59.7m.
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8. |
ALTERNATIVE OPTIONS CONSIDERED
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There are no alternative options as this is a report providing a statement of the outturn figures for the Council’s Capital Programme.
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9. |
DOCUMENT CONSIDERED: |
Report of the Executive Director: Resources
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10. |
DECLARED CONFLICTS OF INTEREST: |
None.
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Date Decision Made |
Final Day of Call-in Period |
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20 July 2021 |
27 July 2021 |
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