Archived decisions
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Commentary and Statistics |
Capital Financing |
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Revenue Budget | ||||||||
Actual |
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Original |
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Revised |
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Budget |
Actual |
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Original |
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Revised |
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Budget | |
2007/08 |
2008/09 |
2008/09 |
2009/10 |
2007/08 |
2008/09 |
2008/09 |
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2009/10 | |||||||||
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£'000 |
£'000 |
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£'000 |
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£'000 | ||||||||||||
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Capital Financing |
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Capital Financing |
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This shows the operation of the County Council's capital accounting arrangements. The main features are: |
32,099 |
Total Expenditure |
43,607 |
35,456 |
49,781 | ||||||||||||
-99,611 |
Reversal of Capital Charges |
-64,935 |
-75,221 |
-75,065 | |||||||||||||
- valuation of most capital assets on a current replacement cost basis |
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- capital charges to service revenue accounts for all capital assets comprising : |
-67,512 |
Total Net Expenditure |
-21,328 |
-39,765 |
-25,284 | ||||||||||||
* a depreciation charge for all assets with a useful finite life |
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* an impairment charge to reflect any loss in value of assets |
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* a credit representing the writing down of any external financing over the life of the asset |
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- charges are also made to services to reflect the writing off of expenditure which can properly be capitalised |
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such as capital grants, but where no addition to the value of the County Council's fixed assets results |
Capital Financing |
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- the level of these capital charges does not affect the County Council's overall budget requirement |
Expenditure |
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because they are counteracted by a credit from the Capital Adjustment Account (see below) |
28,844 |
Interest on loans |
29,905 |
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24,931 |
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23,661 | ||||||||||
28,844 |
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29,905 |
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24,931 |
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23,661 | |||||||||||
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Income |
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18,285 |
Interest on balances |
8,490 |
11,178 |
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750 | |||||||||||
18,285 |
8,490 |
11,178 |
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750 | |||||||||||||
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10,559 |
Net interest costs |
21,415 |
13,753 |
22,911 | |||||||||||||
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Contribution from Capital Adjustment Account |
Contribution from Capital Adjustment Account |
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The County Council has to provide for debt repayment at the minimum level required by legislation, approximately |
Expenditure |
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equating to 4% of its capital financing requirement. The service revenue accounts have, however, already been |
21,540 |
Loan repayments |
22,192 |
21,703 |
26,870 | ||||||||||||
charged with depreciation etc (see above) which exceeds this amount. |
21,540 |
22,192 |
21,703 |
26,870 | |||||||||||||
This excess of depreciation etc over debt repayment, £48.2 million in 2009/10, is credited to the revenue |
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account from the capital adjustment account. |
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Reversal of capital charges |
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-99,611 |
Depreciation and deferred charges |
-64,935 |
-75,221 |
-75,065 | |||||||||||||
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(net of release of Government grants) |
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-99,611 |
-64,935 |
-75,221 |
-75,065 | ||||||||||||
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Excess of Debt Repayment over Depreciation |
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-78,071 |
and Deferred Charges |
-42,743 |
-53,518 |
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-48,195 | ||||||||||
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B112 |
B113 | ||||||||||||||||