Local authorities report capital expenditure, incurred by buying, building or improving capital assets, and capital receipts, received from the sale of a capital asset. Capital expenditure and receipts by economic category Some local authorities have continued to experience slippage in expenditure due to COVID-19. The data in this release covers the 2021-22 financial year, which followed a year of significant impact on local authority finances resulting from the COVID-19 pandemic. This was based on information from Capital Payments and Receipts Returns 4 (CPR4) submitted by local authorities in England.
RECEIPTS 2021 MARCH CODE
COR service areas are consistent with the Service Reporting Code of Practice (SeRCOP).Ī provisional outturn was published in a Statistical Release in June 2022. COR forms capture local authority capital expenditure and receipts by economic category and service area, as well as a breakdown of how expenditure is financed, prudential system information, and accumulated capital receipts and major repairs reserve levels. These data are derived from Capital Outturn Returns (COR), collated by the Data, Analytics and Statistics Division of the Department for Levelling Up, Housing & Communities (DLUHC). This release provides the final outturn for local authority capital expenditure and receipts in the financial year April 2021 to March 2022. Because of the project-based nature of capital expenditure, there can be relatively larger variance in expenditure over time compared with revenue expenditure. It also includes grants and advances that authorities make to other bodies for capital purposes. Prudential borrowing was £9 billion, down £1.6 billion (15%).Ĭapital expenditure comprises the buying, constructing or improving of physical assets, such as buildings, land, vehicles and other miscellaneous property, including streetlights and road signs. However, this was offset by decreased expenditure on loans and other financial assistance (down £1.7 billion) and on acquisition of share and loan capital (down £310.8 million).Ĭapital receipts totalled £3.5 billion in 2021-22, up £0.9 billion (32.7%) in real terms than in 2020-21.Ĭapital grants replaced prudential borrowing as the largest source of financing of capital expenditure in 2021-22 at £10.2 billion, up £0.9 billion (9.9%) in real terms compared to 2020-21.
Expenditure on grants saw a sizeable increase, up £1.8 billion (91.2%) compared to 2020-21. Total financial expenditure totalled £5.9 billion in 2021-22, down £210.9 million (3.5%) in real terms compared to 2020-21. This was partly offset by a decrease of expenditure on acquisition of land & existing buildings, down £0.8 billion (28.1%) from 2020-21. This was largely due to increased expenditure on new construction, conversion & renovation, up £1.6 billion (10.8%) compared to 2020-21. Total expenditure on fixed assets totalled £20.1 billion in 2021-22, up £0.8 billion (4.0%) in real terms compared to 2020-21. Capital expenditure by local authorities in England totalled £26 billion in 2021-22, up £560.4 million (2.2%) in real terms compared to 2020-21.
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