Council Budget Summary
The Cost of Council Services - Revenue Account for year ended 31 March 2007
The Revenue Account summarises the costs of the day to day provision of services between 1st April 2006 and 31st March 2007. It also shows where the money came from to pay for these costs along with a surplus at the end of the year.
|
Service |
Gross Expenditure |
Income |
Net Cost | % Of Total | |
|---|---|---|---|---|---|
| £000's | £000's | £000's | |||
| Education | 92,346 | -84,480 | 7,866 | 9.2 | |
| Social services | 57,179 | -20,674 | 36,505 | 42.6 | |
| Cultural, environmental and planning | 34,371 | -9,670 | 24,701 | 28.8 | |
| Central services to the public | 2,907 | -1,287 | 1,620 | 1.9 | |
| Highways, roads and transport | 17,188 | -7,990 | 9,198 | 10.8 | |
| Housing | 58,034 | -56,296 | 1,738 | 2.0 | |
| Corporate and democratic core | 3,897 | -242 | 3,655 | 4.3 | |
| Courts services | 203 | 0 | 203 | 0.2 | |
| Non Distributable Costs | 155 | 0 | 155 | 0.2 | |
| 266,280 | -180,639 | 85,641 | 100.0 | ||
|
| |||||
| Loss (Gain) on disposal of fixed assets | 35 | ||||
| Environment Agency Levy | 166 | ||||
| Interest payable | 1,079 | ||||
| Payment to ODPM government pool | 1,250 | ||||
| Net Interest and investment Income | -2,505 | ||||
| Pension Interest Cost | 2,303 | ||||
| Amount to be met from government grants and local taxation | 87,969 | ||||
| Funded by :- | |||||
| Central Government Support : RSG | -3,693 | 4.5 | |||
| : NDR | -19,135 | 23.1 | |||
| Council Tax | -58,608 | 70.8 | |||
| Other Non Service Specific Gov't Grants | -1,337 | 1.6 | |||
| Total Funding | -82,773 | 100 | |||
| (Surplus) / Deficit for the year | 5,196 | ||||
| Net additional amount required by statute and non statutory practices to be debited or credited to the General Fund balance for the year | -4,147 | ||||
| (Increase ) Decrease in General Fund balance for the year | 1,049 | ||||
|
General Fund Balance at end March 2006 |
-12,245 |
|
| General Fund Balance at end March 2007 | -1,196 |
Capital Expenditure
Capital expenditure generally represents money spent on purchasing, upgrading and improving assets such as roads and buildings. The community receives the benefit of the expenditure over a period longer than one year. It is funded by grants, sale of other assets, contributions from the revenue account and from loans.
| Culture and Leisure | 2,254 |
|---|---|
| Highways & Transport | 4,029 |
| General Housing | 1,292 |
| Education | 3,634 |
| Other General Fund | 2,825 |
| Council Housing | 12,173 |
| Local Public Service Agreements | 311 |
| Information Technology Investment | 383 |
| 26,901 |
Capital Financing Requirement
This represents the cumulative value of capital expenditure that needs to be financed from borrowing. The in year movement on this requirement represents the value that the authority will need to borrow at some point to fund the balance of the in year capital spend. It also shows the amount that has been set aside to repay borrowing (minimum revenue provision MRP).
| Increase in borrowing required | 15,108 |
|---|---|
| Reduced by MRP in year | -2,762 |
| 12,346 | |
| Cumulative financing requirement | 57,825 |
Housing Revenue Account
The Council owns 4,708 dwellings, comprising 2,384 flats and 2,324 houses. It is a legislative requirement that all expenditure on dwellings is funded from rental income. Average rent was £58.26 per week
|
Income | £ 000's |
|---|---|
| Council house rents (gross) | -13,932 |
| Other rentals and income | -1,861 |
| Total Income | -15,793 |
| Expenditure | |
| Repair and maintenance | 4,220 |
| Supervision and management | 3,756 |
| Capital financing costs | 3,290 |
| Other costs | 4,363 |
| Total Expenditure | 15,629 |
Cash Flow
| Cash in Bank / Overdraft (010406) | -775 |
| Cash in | 335,482 |
| Cash out | -335,589 |
| Cash in Bank /Overdraft (310307) | -882 |
Consolidated Balance Sheet
| What the Council owns and is owed | £000's |
|---|---|
| Fixed and other long term assets | |
| (e.g buildings, land, equipment, vehicles) | 630,612 |
| Stock | 211 |
| Cash in the bank and invested | 21,912 |
| Money owed to the Council | 17,767 |
| Money owed by the Council | -29,825 |
| Provisions, long term loans, grants deferred & unapplied | -57,272 |
| Pensions liability | -92,723 |
| Total assets less liabilities | 490,682 |
| Financed by: | |
| Distributable reserves (*) | 33,796 |
| Non distributable reserves (**) | 456,886 |
| Total Net Worth | 490,682 |
| (*) Distributable reserves comprises the following | |
| balances. | |
| Un-earmarked General Fund Balances | 7,023 |
| Earmarked reserves | 9,925 |
| Collection Fund Balances | 126 |
| Housing Revenue Account | 728 |
| Usable capital grants and receipts | 15,994 |
| 33,796 |
(**) Non distributable reserves consist of non cash backed technical accounting balances
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