EX040902-05an1

ITEM EX5 - ANNEX 1

EXECUTIVE – 4 SEPTEMBER 2002

REVIEW OF THE COUNCIL’S TREASURY MANAGEMENT ACTIVITY IN 2001/02

OXFORDSHIRE COUNTY COUNCIL DEBT FINANCING 2001/02

Line *	Debt Profile		£m
1	PWLB	81%	137.00
2	Money Market Loans	6%	10.02
3	Internal Balances	13%	21.87
4	Actual Debt 1/4/01	100%	168.89

5	Credit Approvals		36.02
6	Minimum Revenue Provision		-7.19
7	Actual Debt 31/3/02		197.72

	Maturing Debt
8	PWLB - Scheduled		-8.00
9	PWLB - Restructuring Premature Loan Repayment		-25.00
10	Total Maturing Debt		-33.00

	New External Borrowing
11	PWLB - Normal		31.00
12	PWLB - Special Restructuring		25.00
13	Total New External Borrowing		56.00

	Debt Profile Year End
14	PWLB	81%	160.00
15	Money Market Loans	5%	10.02
16	Internal Balances	14%	27.7
17	Actual Debt 31/3/02	100%	197.72

* Notes to Table (Annex 1)

Line

This is a breakdown of the Council’s debt at 1 April 2001. This shows the major sources of funding to be PWLB (81%), internal balances (13%) and money market loans (6%)

5. Credit approvals. This is the amount that the Council can borrow in any one year to finance the capital programme. This is determined by Central Government.

6. The amount of debt to be repaid from revenue. The sum to be repaid annually is laid down in the Local Government and Housing Act 1989, which stipulates that the repayments must equate to at least 4% of the debt outstanding at 1 April each year. The sum includes separate provision for repayment of the £3.5 million supplementary credit approvals received in 1996/97 as part of the redetermination of the budget.

7. The Council’s debt at 31 March 2002 after taking into account new borrowing and debt repayments (lines 5-6).

8. The Council’s normal maturing PWLB debt.

9. PWLB debt that was repaid prematurely in 2001/02 as part of a special debt-restructuring programme (see paragraph 15)

10. Total maturing debt (lines 8–9)

11. The normal PWLB borrowing undertaken by the Council during 2001/02. This is shown in more detail in annex 2.

12. The PWLB borrowing undertaken as part of a special debt-restructuring programme.

13. The total external borrowing undertaken in 2001/02 (lines 11-12).

14-17 The Council’s debt profile at the end of the year.

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