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summary-of-accounts-06-07

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									     Where did your money go? Summary of acco
     Income and Expenditure Account and movement in the General Fund Balance
        Shepway District Council provides a wide
                                                                   Revenue Account for the Year Ended                   Gross        Gross          Net
        range of services to its council taxpayers and
                                                                   31 March 2007                                     Spending      Income      Spending
        its rent payers. Spending is split between
        capital and revenue expenditure. Revenue                                                                        £’000          £’000         £’000
        expenditure is financed from council tax, rents,           Central Services to the Public                     12,886        9,321           3,565
        government grants and contributions, fees,
                                                                   Environmental Services                              8,170        2,651           5,519
        charges and other income. Capital expenditure
        provides economic benefits lasting more than               Planning and Development Services                   5,652        3,900           1,752
        one year and is financed from loans, grants,               Cultural and Related Services                       4,206            483         3,723
        capital receipts and revenue contributions.                Highways, Roads and Transport Services              2,068        1,535             533
        The summarised statement (see right) sets out
                                                                   Housing Services                                   39,653       38,752             901
        the financial performance of the council for
        2006/07.                                                   Net Cost of Services                                72,635      56,642           15,993
                                                                   Pensions interest cost and expected return on pensions assets                      850

        Where does your Council                                    Contribution to Government housing pool capital receipts
                                                                   Internal Drainage Board levies
                                                                                                                                                    1,234
                                                                                                                                                      362
        Tax go?                                                    Parish and town council precepts                                                 1,144

        We collect Council Tax from the district of                Interest payable and interest/investment income                                  1,061
        Shepway which includes Folkestone, Hythe,                  Amount to be met from Government Grants & Local Taxation                         20,644
        Lydd, New Romney, Elham, Romney Marsh                      Financed by:
        and other rural areas. This is for the services
                                                                   Council Tax                                                                      -9,246
        provided by Kent County Council, Kent Police
        Authority, Kent Fire and Rescue Service                    Revenue Support Grant (RSG)                                                      -1,540
        and our local town and parish councils. The                Contribution from Non-Domestic Rate pool (NDR/business rates)                    -8,018
        Council Tax is held in a separate fund and then            Total                                                                        -18,804
        distributed as shown in the pie chart below.
                                                                   Surplus(-)/Deficit for the Year                                                  1,840

        As you can see below, only 18% of your                     Other statutory accounting adjustments                                           -2,776
        Council Tax goes towards services we provide. Increase (movement) in General Fund Balance for the Year                                        -936
                                                                   General fund balance as at 31 March 2006 (deficit reserve)                         235
                                                                   General fund balance as at 31 March 2007 (surplus reserve)                        -701


                                                                                  Income
                                                                                  The pie chart below shows some of the various sources of income
                                                                                  totalling £18,804,000.
                                                                                  • The Revenue Support Grant (RSG) is paid directly from central
     Net Expenditure                                                                government.
     The total net cost of council services in 2006/07 was £15,993,000. The       • The Non-Domestic Rate (NDR) represents what Shepway is paid from
     pie chart below shows the proportional (%) cost of each of the council’s       the central government business rates ‘pool’. (The council collects
     major services.                                                                rates from local businesses on behalf of the government for it to
                                                                                    distribute nationally).
                                                                                  • The Council Tax income is the proportion paid to Shepway for services
                                                                                    it provides.
                                                                                                                                   3




16             Browse, explore, pay on-line - connect with your council at www.shepway.gov.uk
ounts for the year ending 31 March 2007
   Capital Account – What we spent and how it was funded
   Capital spending is incurred on either acquiring new assets or enhancing     Funding Captial Expenditure
   existing assets. The council receives the benefit from capital expenditure
   over a long period of time. The pie charts show capital expenditure and
   its financing for 2006/07.

   £’000

                          801


                                    633

       2,700                         168
                                     136


                             884                                                Cash Flow
                                                                                The cash flow summarises money coming in and money going out
                                                                                during the year. In this instance (-) figures indicate an outflow or
                                                                                overdraft.                                                         (£’000)
   Cost of Housing Services                                                     Cash in bank at end March 2006                                    -1,734
                                                                                Cash In (during the year)                                       158,643
   The Housing Revenue Account (HRA) is a separately maintained
   account showing the costs of running the council’s housing stock             Cash Out (during the year)                                     -157,663
   which is used to provide homes for our tenants. The HRA expenditure          Cash in the bank at end of March 2007                               -754
   is financed by rents and service charges. Shepway District Council is
   responsible for managing 3,482 council homes.                                Financial Position
                                                                                At the end of
    Housing Revenue Account (2006/07)                                £ ‘000                       As at 31 March 2007                               £ ‘000
                                                                                each year, a
    Income                                                                      balance sheet     Value of land and property                      223,911
    Dwelling rents                                                 - 10,211     is prepared       Investments and cash in bank                     17,125
    Non-dwelling rents                                                - 339     that represents   Money owed to Shepway District Council           10,637
                                                                                the value of
    Charges for services and facilities                               - 834                       Money owed by Shepway District Council          -13,028
                                                                                Shepway
    Total Income                                                   - 11,384     District          Loans outstanding                               -37,491
    Expenditure                                                                 Council’s land    Other long term liabilities                     -56,494
                                                                                and buildings,    Total assets less total liabilities             144,660
    Repairs and maintenance                                          2,714
                                                                                how much
    Management of housing stock                                      3,200                        Financed by:
                                                                                we owe to
    Subsidy payable to government                                    1,653      others, how       Revenue Reserve                                    3,308
    Capital                                                          3,121      much is owed      Reserves and revaluation account                110,914
    Insurance and rents                                                    41   to us and the     Capital financing                                30,438
                                                                                amount of
    Total Expenditure                                               10,729                        Total equity                                    144,660
                                                                                cash we have.
    Net cost of HRA Services                                          -655
    Corporate costs                                                    219      Audit Approval
    Investments, interest, borrowing & gains                           814      The council’s accounts are audited annually by the Audit Commission.
    Total Surplus(-)/Deficit for the Year                              378      This is to ensure that, in accordance with agreed accounting regulations,
    Financing capital expenditure                                      114      the council’s Statement of Accounts presents a fair and accurate picture
                                                                                of the financial position, and its income and expenditure for the year.
    Other statutory amounts debited to HRA balance                     -837
    Increase in HRA Balance for the Year
    HRA balance as at 31 March 2006
                                                                      -345
                                                                     -2,568
                                                                                Further Information
                                                                                The council’s full Statement of Acounts has been prepared in accordance
    HRA balance as at 31 March 2007                                  -2,913
                                                                                with statutory accounting practices. This Account Summary presents a
    Increase (movement) in HRA balance for the year                   -345      modified and more meaningful version. For a full copy of the council’s
                                                                                accounts please visit our website at www.shepway.gov.uk or call
                                                                                (01303) 853238.

              Browse, explore, pay on-line - connect with your council at www.shepway.gov.uk                                                                 17

								
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