Decision details

Capital Expenditure Outturn 2020/21

Decision Maker: Executive Member for Transformation & Finance

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To note the outturn position for the year and approve carry forward requests.

Decision:

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.

Reasons for the decision:

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.

Alternative options considered:

There are no alternative options as this is a report providing a statement of the outturn figures for the Council’s Capital Programme.

Interests and Nature of Interests Declared:

None.

Reason Key: Expenditure >£400,000 & Affects more than 1 ward.;

Wards Affected: (All Wards);

Financial Impact: Included within the report

Declarations: None.

Subject to Urgent Proceedings: No.

Making Representations: In writing to the Executive Director of Resources

Other reasons / organisations consulted

N/A

Consultees

N/A

Contact: Calvin Orr, Head of Finance & Business Services Email: calvin.orr@bracknell-forest.gov.uk Tel: 01344 352125.

Publication date: 20/07/2021

Date of decision: 20/07/2021

Effective from: 28/07/2021

 

Contact Information

Democratic services

Email: committee@bracknell-forest.gov.uk