Annual accounts

The Council’s Statement of Accounts for 2017 to 2018, including the Annual Governance Statement, is available for viewing in the following document, Statement of Accounts 2017 to 2018 (PDF, 2.98MB).

Inevitably, much of the information in the document is of a technical nature satisfying the requirements of statute and local authority accounting practice.

The main statements in the Accounts include:

  • The Movement in Reserves Statement - shows the movement in the year on the different reserves held by the authority, analysed into "usable reserves" i.e. those that can be applied to fund expenditure or reduce local taxation, and other reserves
  • The Comprehensive Income and Expenditure Statement - shows the expenditure and income relating to all of the Council's services, the principal sources of finance, which include Government Grants and the Council Tax, and the net surplus or deficit for the year
  • The Balance Sheet - showing the Council's overall financial position at the end of the year for all activities except the Pension Fund which is held in trust
  • The Cash Flow Statement - summarises the inflows and outflows of cash arising from transactions with third parties for revenue and capital purposes excluding the Pension Fund
  • The Pension Fund - Local authorities administer pension schemes to provide benefits for employees

At the end of the year, the final financial position is considered as part of a comprehensive review of performance against both financial and non-financial targets. As required by the Accounts and Audit Regulations, the audited Statement of Accounts is then approved by the Council's Audit Committee by the end of September following the end of the financial year.

Each year, the Council's Auditors produce an Audit Letter (PDF, 453KB) which sets out the results of their work at the Council. The letter covers the Council's governance arrangements, its accounts, performance and inspection work.

The Annual Governance Statement is also published along with the Statement of Accounts. This reviews the Council's corporate governance arrangements.