Statement of Accounts 2007/2008 - in Summary
The Summary of Accounts provides an overview of the Council's Statement of Accounts for 2007/08 and includes the balance sheet and a summary of capital expenditure during the year, the Income and Expenditure Account and the Housing Revenue Income and Expenditure Account. At the bottom of this page you can download the full Statement of Accounts for 2007/2008.
Corporate Objectives
The Council has adopted three corporate objectives to focus its activities; these corporate objectives are supported by related service priorities that cascade down into service plans and budgets.
- work in partnership to manage growth to benefit everyone in South Cambridgeshire now and in the future;
- Planning new communities and protecting existing communities
- Affordable housing
- Recycling - deliver high quality services that represent best value and are accessible to all our community;
- High quality services
- Strong management and prioritisation
- Equality - enhance quality of life and build a sustainable South Cambridgeshire where everyone is proud to live and work;
- Listening and engaging
- Community safety
- Protecting the environment
- Sustainability
- Rural transport
- Sport and recreation
- Vulnerable in the community
- Economic development
Capital and revenue expenditure in 2007/08 has been analysed to show how the Council is meeting the three corporate objectives. There are also priorities such as value for money and customer care which are relevant to all services.
Balance sheet - What the Council owns and is owed
The Balance Sheet shows the current financial position of the Council at the year-end; it gives the value of the Councils assets and its liabilities.
| 31 March 2008 | £000's |
|---|---|
| Buildings and land owned by the Council | 493,810 |
| Vehicles, equipment and other assets | 4,435 |
| Stock | 26 |
| Cash in bank and cash investments | 28,015 |
| Money owed to the Council | 4,655 |
| Money owed by the Council | -25,123 |
| Total assets less current liabilities | 505,818 |
Financed by: Council accounts, reserves and balances -505,818
Capital expenditure
Capital expenditure represents money spent on purchasing, upgrading and improving assets. The Council receives the benefit from capital expenditure over a long period of time; the table outlines the capital investment made during 2007/08 and how it links to corporate objectives. The Council has two separate capital programmes - housing and general services.
This is detailed in the Annual Report 2007/2008 - did we have anything left over?
The cost of the Council's services: Income and Expenditure Account for the year ended 31 March 2008
The Income and Expenditure Account represents the cost of running Council services between April 2007 and March 2008; the money to finance these costs comes from council tax, business rates and government grant.
More details can be found
This is detailed in the Annual Report 2007/2008 - Net Expenditure.
Did we have anything left over?
We spent a little less on services in 2007/08 than we received, leading to a surplus on our Income and Expenditure account. The surplus was added to the balance from previous years to give a new balance of £7.8 million.
| General Fund balance | £000's |
|---|---|
| Balance at 1 April 2007 | -6,546 |
| Add: surplus for the year | -1,275 |
| Balance at 31 March 2008 | -7,821 |
Some of the surplus will be used in the current year on projects that were planned for but not completed in 2007/08. In accordance with best practice, the Council has a five year medium term financial strategy which plans for the phased use of the General Fund balance to provide services and meet spending pressures due to population growth, etc.
Housing Revenue Income and Expenditure Account
The Housing Revenue Income and Expenditure Account includes all the expenditure and income associated with the Council's 5,625 homes; all expenditure is funded from rental income and contributes to corporate objective 1 by delivering affordable housing for local people. Around 50% of rental income has to be paid to the Government, with only the balance of income being available to spend on Council Housing.
This is detailed in the Annual Report 2007/2008 - did we have anything left over?
The future for council housing in South Cambridgeshire
The Council considered two possible options of retaining council housing within the Council or transferring council housing to a housing association as being most appropriate.
In January 2008, the Council resolved: that the Council develop a housing transfer proposal in consultation with its tenants. Council recognises that housing transfer cannot proceed without the support of its tenants and wishes to involve them fully in developing its proposal. Council further recognises that retention will be an option for consultation.
What have we achieved?
Efficiency
Under the Government's Gershon saving scheme the Council was expected to identify £1,343,000 worth of efficiency savings between 2005/06 and 2007/08. The Council has ensured it continues to deliver value for money services by exceeding this target and achieving £1,930,000 savings through restructuring, increased productivity and procurement initiatives.
Corporate Governance
A follow-up inspection by the Audit Commission in March 2008 reported that the Council had made good progress against each of the four corporate governance themes of:
- community focus;
- structures and processes;
- risk management and internal control; and
- leadership, culture and standards of conduct
Corporate Plan
The Council has published a Corporate Plan setting out its priorities for the coming year and how it intends to deliver them; this provides the blueprint for 2008/09 showing how service delivery links directly to the agreed corporate objectives.
Council Tax for 2007/08
The Council Tax is set in terms of a band D property which is a property in the valuation band from £68,001 to £88,000 at 1991 prices. For a band D property, the Council Tax for 2007/08 was £1,292.84. This is one of the lowest tax levels in the country and most of the money is raised on behalf of the County Council.
Your services:
Council tax is the money needed by Cambridgeshire County Council, Cambridgeshire Fire Authority, Cambridgeshire Police Authority, South Cambridgeshire District Council and those Parish Councils within the district of South Cambridgeshire to provide services to benefit residents.
The District Council aims to provide good value quality services; these include:
- Refuse collection, recycling and street cleaning
- Kerbside collection of household waste and materials for recycling
- Collection of bulky items
- Street cleaning and prevention of fly tipping - Environmental Health
- Monitoring, education and enforcement of health and safety and food hygiene in commercial premises
- Pest treatments and advice. Nuisances to residents - noise and air pollution.
- Regulation and licensing (e.g. taxi, liquor, building safety) - Planning and economic development
- Dealing with planning applications, building control and enforcement action
- Developing a plan framework for the district
- Conserving and enhancing the built and natural environment
- Supporting the development of the local economy - Housing Services
- Improving the supply of affordable homes
- Provision of housing advice
- Management of the Council's housing stock - Recreation and Leisure
- Helping to bring arts, entertainment and creative activity to all our villages and supporting organisations providing facilities used by South Cambs residents - Other Services
- Collection of council tax and business rates
- Administration of council tax and housing benefit
- Elections and electoral service
Some FACTS
- South Cambs is the Homelessness Beacon Council for East Anglia
- Scores on the Doors (This link will open in a new window)! Food hygiene ratings initiative for food premises. Over 500 food businesses listed.
- Householders and businesses helped the Council to recycle 53% of the waste collected
- 99.1% council tax and 99.8% business rate collected, the Council has one of the highest collection rates in the country
Download:
If you require any further information please contact the Council's Principal Accountant (email: sally.smart@scambs.gov.uk (This link will open in a new window)).
