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Statement of Accounts 2013/14 An Overview Presentation to: Audit - PDF document

Statement of Accounts 2013/14 An Overview Presentation to: Audit & Financial Monitoring Overview and Scrutiny Panel on 16 July 2014 St. Helens Council Statutory Framework Governed by Regulations & Proper Practices (Code)


  1. Statement of Accounts 2013/14 An Overview Presentation to: Audit & Financial Monitoring Overview and Scrutiny Panel on 16 July 2014 St. Helens Council Statutory Framework • Governed by Regulations & Proper Practices (Code) • Based on International Financial Reporting Standards (IFRS) • Statutory Framework determines: • Preparation & Format • Disclosure Requirements, e.g Senior officer remuneration • Signing & Approval • Publication • Audit & Inspection

  2. Purpose & Importance • Provides clear information about the Council’s finances to all stakeholders – What did services cost in year ? – Where did the money come from ? – What were Council’s assets & liabilities ? – How did the financial position change in the year and what are the future prospects? – What are the risks and uncertainties facing the Council? Main Changes & Considerations for 2013/14 • Pensions • Revised standard, incorporating new disclosure requirements. • Local Council Tax Support Scheme • Business Rate Retention Scheme • Group Accounting – former Parkside site • Local Authority Mortgage Scheme

  3. COMPREHENSIVE INCOME and EXPENDITURE STATEMENT (page47 ) £178m Employees £73m Benefits EXPENDITURE £418.5m COST OF SERVICES £223m Specific Grants £141.9m Incl. £73m Benefits £115m DSG INCOME £12m Public Health £276.6m £7m Pupil Premium Including: OTHER OPERATING COSTS £24.7m Levies £36.5m £3.8m Treasury (Interest payable & receivable) £10.8m Pensions (Interest on assets & liabilities) £2.3m Gains on Disposal & value of AHFS £78.0m RSG & Business Rates Top-up TAXATION & NON SPECIFIC £11.5m Capital Grants GRANTS £54.6m Council Tax £23.5m Retained Business Rates £171.2m £3.6m Other Grants DEFICIT ON PROVISION OF SERVICES £7.2m . Accounting cost vs. Taxation funded cost

  4. MOVEMENT IN RESERVES STATEMENT (page 46) Cap Redist Grant & SBRR £1.0m+ Treasury & Portfolio Savings £8.4m+ LAC budget pressures £2.9m- Redbank £1.1m- Insurance £1.3m- General Fund Balances Other £0.5m- £1.5m+ Increase in Balances(excl schools) £3.6m+ Transfer to Earmarked Bals £2.1m- £2.1m+ Earmarked Reserves Insurance Fund £1.3m- Modernisation £2.1m+ Development £0.5m- Employment Initiatives £0.6m- £1.6m- Schools Balances Welfare Assistance £0.4m+ Cllr. Improvement Fund £0.4m+ Essential Equipment £1.5m+ Commuted Sums £0.1m+ £11.6m- Asset Sales & Right to Buy £1.6m+ Capital Receipts Reserve Financing of Capital Investment £13.2m- New Grants in Year £4.2m+ £1.0m+ Capital Grants Unapplied Applied in Year (spent) £3.2m- Pensions Reserve £75.6m+ £97.7m+ Unusable Reserves Capital Adjustment Account £12.9m+ Revaluation Reserve £8.6m+ Other £0.6m+ TOTAL MOVEMENT: £89.1m-

  5. BALANCE SHEET (page 48) PROPERTY, PLANT & EQUIPMENT ASSETS NON CURRENT ASSETS £436.1m £475.5m £653.6m HERITAGE ASSETS INVESTMENTS £3.5m £109.7m INVESTMENT PROPERTY £25.7m DEBTORS £32.9m ASSETS HELD FOR SALE £8.1m INVENTORIES INTANGIBLE ASSETS £0.6m £2.1m CASH & EQUIVALENTS £34.9m INSURANCE LIABILITIES BORROWING £6.1m- £74.4m- £405.5m- TERMINATION COSTS £1.1m- CREDITORS £35.3m- BUSINESS RATE APPEALS £1.5m- PENSIONS LIABILITY OTHER £194.6m- £0.6m- PROVISIONS £9.3m- MRWA INVESTMENTS £51.1m- GRANTS IN ADVANCE £10.8m- MRB DEBT £3.3m- OTHER L.T. LIABILITIES COMMUTED SUMS /BONDS £81.1m- £0.5m- RAINFORD PFI USABLE RESERVES NET ASSETS £26.2m- £119.2m £248.1m UNUSABLE RESERVES £128.9m

  6. USABLE RESERVES £119.2m GENERAL FUND BALANCES Working Balances (prudent level) £21.3m £8.0m Schools £1.0m NW Regional Leaders Board £4.4m Insurance Fund EARMARKED RESERVES & £0.9m Commuted Sums/Bonds SCHOOLS BALANCES £1.2m Pension Liability (NW RLB) £57.3m £2.6m Committed 2014-17 £39.2m Available CAPITAL RECEIPTS RESERVE £3.9m Fund Capital Programme £32.2m £28.3m Available To Fund Capital Programme CAPITAL GRANTS UNAPPLIED £8.4m

  7. CASHFLOW STATEMENT (Page 49) OPERATING ACTIVITIES £443.4m+ CASH INFLOWS £18.9m+ £424.5m- CASH OUTFLOWS INFLOW £19.5m- Purchase of Non-current Assets £5.6m- Investments £12.8m- INVESTING ACTIVITIES £15.3m+ Grants & Capital Receipts. £3.0m- Other FINANCING ACTIVITIES £0.7m- Repaid PFI / MRB liabilities £0.6m- £0.1m+ Agency Taxation. INFLOW £5.5m NET INCREASE IN CASH = COLLECTION FUND (Page105) INCOME FROM INCOME FROM BUSINESS COUNCIL TAX RATEPAYERS £65.9m £52.3m £54.2m to St.Helens Council £3.1m Provision for appeals £7.1m to Police £24.3m to Government / Fire £3.2m to Fire £1.0m Movement in Bad Debts £0.4m- previous year deficit £0.2m Retained for Admin. £1.0m Movement in Bad Debts £23.3m to St.Helens Council In-year Movement In-year Movement £0.3m £0.8m £0.6m SURPLUS carried forward (£0.5m DEFICIT brought forward )

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