The Department records all expenditure in its books of accounts in sterling, including that incurred in foreign currency. The values recorded in the accounts are the expenditure in currency converted at the general accounting rate (GAR) for the relevant month. All GARs are based on the cost to the Department of the actual purchases of the individual currencies.
The net cash requirement (NCR) reported in the departmental resource accounts reflects all cash expenditure incurred by the Department in a year, both current and capital, in all currencies. There is no central analysis by currency of the split between current (revenue) and capital expenditure and this information could be provided only at disproportionate cost.
The overall expenditure in US dollars and euros is shown as follows and as a percentage of the NCR in each year. Details of actual US dollars and euros expenditure for years prior to 2000-01 is not held centrally and could be provided only at disproportionate cost.
|US dollar expenditure||Euro expenditure|
|Value (£ million)||Percentage of NCR||Value (£ million)||Percentage of NCR|
Aggregate expenditure in other currencies is relatively small and is less than 1.5 per cent. of NCR in each of the years shown in the aforementioned table.