Purpose

The report summarises the Council’s
General Fund capital expenditure and treasury management activity up to 30
September 2024.  It also provides information
on the performance against the Treasury and Prudential Indicators.

 

A summary of the capital
programme expenditure against budgets in the current year, is set out in the
following table:-

 

Capital Programme


Revised Budget 2024/25
£


Budget to 30 Sep 24
£


Actual  to
30 Sep 24
£


Variation
£




General Fund


18,064,500


9,436,900


8,825,039


-611,861

 

During the first half of the year
the Council operated within the Treasury and Prudential Indicators.

 

The overall treasury position is
set out in the following table:-

 

 


31 March 2024
Actual
£’000


30 Sept 2024
Actual
£’000




Total borrowing


64,589


63,256




Total investments


(13,588)


(13,398)




Net borrowing


51,001


49,858

 

The Council’s net interest budget
for 2024/25 is £468,400 with an actual of £241,078 at the end of September
(£701,320 actual in 2023/24).  With the
Bank Rate currently at 5% and expected to reduce this year, the budget will be
reviewed during the budget setting period to reflect the latest capital
programme spending plans.

Decision

RESOLVED that the Executive notes
the Capital and Treasury Management Report for 2024/25.