We also spend money on capital projects; that is buying, improving and repairing our land and property so that we can continue to provide first class public facilities. This type of spending has to be accounted for separately from the revenue spend.
The increase in capital financing requirement shown below is the increase in notional borrowing required to fund asset purchases. However, as the Council has sufficient total funds available, no borrowing is actually required.
Capital Expenditure during 2009/ 10
What we spent the money on | 2009/2010
£'000 |
| To maintain and improve council houses | 5,790 |
| Grants to Housing Associations | 114 |
| Renovation and Improvement grants | 1,060 |
| To maintain and improve General Fund land and buildings | 1,642 |
| Vehicles Plant and equipment | 1,117 |
| Other | 343 |
| Total | 10,066 |
| How we paid for it | |
| Grants and contributions | 1,293 |
| Capital Reserves | 5,658 |
| Income from sales of assets | 867 |
| Increase in capital financing requirement | 748 |
| Long term borrowing | 1,500 |
| Total | 10,066 |