Financial Statement of Accounts
The Council is required to publish its audited statement of accounts in accordance with the Local Government and Housing Act 1989. We must also make the Annual Audit inspection Letter available to the public.
Our most recent Statement of Accounts is for the financial year 2006/2007 and a full copy is attached at the bottom of this page.
We have also attached a 2006/2007 Summary statement which highlights the key points.
The Annual Audit Inspection Report for the 2006/2007 was approved on 10 March at Full Council. It is available to download below.
The following notes are a guide to the most important pages in the full Statement of Accounts:
Statement of Accounting Policies and estimation techniques (Page 6)
This explains the basis of the figures in the accounts. The accounts can only be properly appreciated if the main policies and estimation techniques which have been followed in dealing with material items are explained.
This explains the basis of the figures in the accounts. The accounts can only be properly appreciated if the main policies and estimation techniques which have been followed in dealing with material items are explained.
Statement of Responsibilities (Page 12)
This statement sets out the respective responsibilities for the accounts of the authority under Local Government legislation and other requirements and those of the Deputy Chief Executive (Resources), who is the Council’s Chief Financial Officer.
This statement sets out the respective responsibilities for the accounts of the authority under Local Government legislation and other requirements and those of the Deputy Chief Executive (Resources), who is the Council’s Chief Financial Officer.
Statement on Internal Control (Page 13)
This sets out the framework within which financial control of the authority is managed and reviewed.
This sets out the framework within which financial control of the authority is managed and reviewed.
Income and Expenditure Account (Page 22)
This shows the expenditure and income for the year of the major functions for which the Council is responsible and demonstrates how those costs have been financed from Central Government grants, income from local taxpayers and from charges made by the Council for its services.
This shows the expenditure and income for the year of the major functions for which the Council is responsible and demonstrates how those costs have been financed from Central Government grants, income from local taxpayers and from charges made by the Council for its services.
Statement of total recognised gains & losses (Page 23) This statement demonstrates how the movement in net worth in the Balance Sheet is identified to the Income and Expenditure Account surplus/deficit and to other unrealised gains and losses.
Balance Sheet (Page 24)
This statement is fundamental to the understanding of the Council's year end financial position. It details the assets and liabilities at the Council's disposal, by showing the fixed and net current assets employed in its operations, together with information on its short and long term indebtedness.
This statement is fundamental to the understanding of the Council's year end financial position. It details the assets and liabilities at the Council's disposal, by showing the fixed and net current assets employed in its operations, together with information on its short and long term indebtedness.
Cash Flow Statement (Page 25)
This consolidated statement summarises the receipts and payments of cash or cash equivalents arising from transactions with third parties for both revenue and capital purposes.
This consolidated statement summarises the receipts and payments of cash or cash equivalents arising from transactions with third parties for both revenue and capital purposes.
Collection Fund Account (Page 55)
This account reflects the statutory requirement for billing authorities to maintain a separate Collection Fund. It shows the transactions of the Council as a billing authority in relation to non-domestic rates and the council tax, and illustrates the way in which these have been distributed to pre-cepting authorities.
This account reflects the statutory requirement for billing authorities to maintain a separate Collection Fund. It shows the transactions of the Council as a billing authority in relation to non-domestic rates and the council tax, and illustrates the way in which these have been distributed to pre-cepting authorities.
Downloads
This is a copy of the full Statement of Accounts for 2006/2007. Please Note that this is a large document which may be slow to download. Hard copies are available on request. (3.80 MB)
Summary highlights the key points of the 2006/2007 Statement of Accounts. (50.6 KB)
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