City Council Final Accounts 2003/2004

REPORT OF  DIRECTOR OF LEGAL                              MEETING OF THE

AND  ADMINISTRATIVE SERVICES                             CITY  COUNCIL 28TH JULY, 2004

At its meeting on 14th July, 2004, the Cabinet considered a report of the Director of Finance, containing details of the City Council’s Final Accounts for 2003/2004.  

In accordance with the list of matters which are statutorily reserved for Council, as approved at the Council at its meeting on 5th April, 2000, the decision of the Cabinet, as set out below, is referred to the City Council for consideration:-

CITY COUNCIL FINAL ACCOUNTS 2003/2004

          The Director of Finance submitted a report containing details of the City Council’s Final Accounts for 2003/2004.  Appendix 1 to the report set out details of the General Fund and Appendix 2 contained details of the General Fund Balances.  Appendix 3 set out details of the Collection Fund Account whilst the Housing Revenue Account was set out in Appendix 4 to the report.  Appendix 5 showed the position in respect of the current Capital Programme and Appendix 6 set out the Statement of Accounts for 2003/2004 which reflected the final out-term position. 

The representative of the Director of Finance drew attention to the position which was reported to the Council at its meeting on 5th March, 2004 which showed a forecast overspend of £233,000 and to further work to identify measures, the result of which had enabled the City Council to now show an overall underspend of £1.154m for 2003/2004.

           He pointed out that the Statement of Accounts had been prepared in accordance with the Code of Practice on Local Authority Accounting in Great Britain and the statutory Accounts and Audit Regulations and was subject to audit by the Council’s external auditors. He also pointed out that it would be necessary to review the timetable and process for the approval of the Final Accounts in the light of the new requirements to bring forward the date for the approval of the Accounts, on a phased basis, in accordance with the provisions of the Accounts and Audit Regulations 2003. 

RESOLVED: That (a) the City Council’s final out-turn position in respect of the Final Accounts for 2003/2004 as set out in the report now submitted, be noted;

            (b) approval be given to carry forward an underspend of £134,000 relating to the Grant Aid Budget which is to be earmarked to support local voluntary and community sector organisations;

            (c) approval be given for the carry forward of £883,000 by Social Services against the Pooled Budget for Learning Disability Services;

            (d) approval be given to the formal Statement of Accounts for 2003/2004 in accordance with the details set out in the report and appendices as now indicated; and

            (e) delegated authority be granted to the Director of Finance to amend, as necessary, the statutory determinations and amend the Statement of Accounts in Appendix 6 accordingly.

(NOTE:  1 This item is a matter which is reserved for approval by the City Council and cannot therefore, be called-in for scrutiny.