Summary of accounts 2007-08
During 2007/08 the Council faced significant challenges in
keeping spending within the budget set.
Despite these pressures, robust
budget management procedures helped to ensure that spending
remained within budget and timely correct action was taken where
necessary.
At the year end our spending
was in line with our approved budget. Although the
council has to live within the funds given by Central Government we
endeavour to achieve continuous improvement and ensure local people
get value for money.
We continue to focus on ensuring that
spending is concentrated on our priority areas as set out in our
Community Plan (Pride of Place) and Corporate Plan (Aiming High),
both of which are available on the website.
What we did last year...
- Educated 32,900 children in our schools.
- Protected 349 children from harm and supported a
further 1,152 children in need.
- Helped 2,677 vulnerable older people remain in their own
homes and 1,061 cared for in residential and nursing homes.
- Maintained 419 miles (675km) of road.
- Loaned out 1,048,971 library books and 38,575 CDs last
year.
- Dealt with 62,211.97 tonnes of domestic waste.
- Protected 1,899 consumers and 4,407 businesses.
- Maintained over 25,000 street lights.
- Subsidised 30 bus routes.
- Provided an average of 14,304 properties for rent to Council
Tennants.
What we spent...
| |
Gross Expenditure 2007/08
£m |
| Children's and Education Services |
252 |
| Adult Social Care |
61 |
| Cultural, Environment and Planning Services |
61 |
| Highways |
25 |
| Corporate Services |
37 |
| Private Sector Housing |
91 |
| Council Housing |
51 |
| Financing Costs |
14 |
| Contribution to and from reserves and balances |
-13 |
| Total Spend |
579
|
This was paid for by...
| |
£m |
| Specific Grants and Other Income |
283 |
| Dedicated Schools Grant |
132 |
| General Government Grants |
13 |
| Council Taxpayers |
71 |
| Business Rates |
80 |
| Total |
579 |
Capital Investment
We also spent money on improving our assets...
| |
2007/08 £m |
| Business Partnerships |
15.4 |
| Housing Strategy |
18.3 |
| Housing Revenue |
13.3 |
| Schools |
10.9 |
| Regeneration |
11.2 |
| Adult Care |
0.6 |
| Learners & Young People |
4.4 |
| Environmental Management |
2.9 |
| Other |
2.0 |
| Total capital spend |
79.0 |
Paid for by...
| |
£m |
| External Borrowing |
16.1 |
| Government Grants |
46.4 |
| Income from sale of assets |
6.9 |
| Contributions from Revenue |
0.5 |
| Major Repairs Reserve |
9.1 |
| Accumulated Reserves |
0.0 |
| Total capital financing |
79.0 |
Summarised Balance Sheet as at 31/3/08
| |
£m |
| Capital Assets |
988 |
| Cash in bank and investments |
86 |
| Money owed to Council Group |
100 |
| Money owed by Council Group |
(79) |
| Long-Term Borrowing |
(369) |
| Pensions and other Liabilities |
(141) |
| Total Assets Less Liabilities |
585 |
Reserves & Balances
| |
£m |
| Accounting Reserves |
528 |
| Earmarked Reserves |
34 |
| General Balances |
23 |
| Total Reserves & Balances |
585 |
Cash Flow
| |
2007/08 £m |
| Cash at 1 April 2007 |
0.8 |
| Cash In |
155.7 |
| Cash Out |
(164.5) |
| Cash at 31 March 2008 |
(8.0) |
Earmarked Reserves
The Council Group earmarked reserves are as follows;
| |
£m |
| Schools |
9.9 |
| Investments |
5.7 |
| Insurance |
17.6 |
| Other Reserves |
0.7 |
| Total Reserves |
33.9 |
General Balances
We had £23.4 million in Revenue Balances at 31 March 2008.
This consisted of £13.6m on the Council's General Fund, £9.3m on
the Housing Revenue Account (Council Housing), (£0.7m) on the
Collection Fund (Council Tax and Business Rates) and £1.3m on RBH's
balances. £8.3m of the General Fund balance is committed for
use in 2008/09.