Interest Rates Project Report

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					                                                                          2008/9 EXPLANATION OF VARIANCES

                                                                           BRADLEY STOKE TOWN COUNCIL


    Section 1           2007/8            2008/9         Variance (+/-)      %                             Detailed explanation of variance for items in excess of 15%
                          £                 £                  £          Variance

      Box 2
                       £734,769          £768,904           £34,135        4.65%     Required to fund budget shortfall.
     Precept

     Box 3                                                                           Decrease due to substantially reduced bank balance following large expenditure on extension at Baileys
                       £150,449          £139,450          -£10,999        -7.31%
  Other income                                                                       Court Activity Centre in 2007/8 together with drastic drop in interest rates in the final quarter of 2008.

     Box 4
                       £262,554          £272,705           £10,151        3.87%     Minimal increase following annual pay awards
   Staff costs
      Box 5
      Loan                £0                £0                £0             N/a     N/A
 interest/capital


     Box 6                                                                           Large decrease in 2008/9 as 2007/8 figures included a major capital project at Baileys Court. £662K was
                      £1,243,764         £564,917          -£678,847      -54.58%
 Other payments                                                                      spent on building of an extension & £18K on security shutters


      Box 9
 Fixed assets &       £3,780,039        £3,799,533          £19,494        0.52%
long term assets
    Box 10
                          £0                £0                £0             N/a     N/A
Total borrowings


Note:

Each budget has been set prior to the start of the financial year when council are advised of the previous years budgets and all items of income/expenditure are individually specified
for Council's approval before the budgets are set.

Council receive an up to date budget report at each Finance meeting which details the actual position of income/expenditure against individual budgets.

Prepared by - Rachel Pullen 10/6/08

				
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