Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: November 4, 2024

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.

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