There are plans for the Council to borrow £13,262,782 to fund its capital programme in 2016/17.
This borrowing may be from internal resources, PWLB, or from the market, the most cost effective method being selected at the time the funds are required.
The 2016/17 borrowing requirement is made up as follows:
£400,000 LED (not drawn in 2015/16 as planned)
£750,000 Queen’s Drive Exmouth
£5,990,000 Office Relocation
£4,900,557 Refuse Fleet (actual figure, £6,000,000 per budget)
£290,000 Refinancing of Beer CLT loan (agreed since budget set)
£932,225 Borrowing required to fund the balance on various smaller projects included within the Capital Programme. This requirement has increased since the budget was set due to slippage in the capital programme from prior years.