What was Devon County Council’s debt at 31 March 2009 (Please record of the debt was ‘external’ or ‘internal borrowing’)
Devon County Council external debt as at 31 March 2009: £609,639,000. This was external borrowing. There was no internal borrowing as at 31 March 2009.
Did any part of that debt relate to Plymouth City Council and/or Torbay Council? If so, how much was relevant to each of those councils?
The external debt as at 31 March 2009 included pre-local government reorganisation debt. Plymouth City Council and Torbay Council were re-charged annually for their share of the capital financing costs for that debt. During 2010/11, £33,666,000 of the external debt was transferred to Plymouth and £20,124,000 was transferred to Torbay.
What was Devon County Council’s debt at 28 February 2025. Please give figures for ‘external borrowing’ and ‘internal borrowing’.
Devon County Council external debt as at 28 February 2025: £507,849,000. Internal borrowing is calculated with reference to the capital financing requirement (CFR). The CFR will be calculated for the Statement of Accounts, but it is not possible to calculate as at 28th February. Table 5 of the Treasury Management Strategy section of the 2025/26 Budget book shows a revised estimate for the Council’s under-borrowing (internal borrowing) for 2024/25 of £95,094,000. This includes an allowance of £25,000,000 for capitalisation of leasing costs that are to be brought into the figures under new accounting regulations (IFRS16).
Between 31 March 2009 and 28 February 2025 has any ‘external borrowing’ been repaid by the council (as in ‘repaid’ and not reborrowed from the same or another lender)?
External borrowing reduced by £101,790,000 between 31 March 2009 and 28 February 2025, including the transfers to Plymouth and Torbay. The relevant transactions can be seen at Transactions