Financial report 2015/16

At a glance

Every £1 we receive to spend on day-to-day services comes from

Every £1 we receive to spend on day-to-day services comes from

For every £1 we spend on day-today services

For every £1 we spend on day-today services

Spending and capital investment breakdown

Spending

Spending£m
    Children's and Education 552.5
    Highways, Roads and Transportation 75.0
    Adult Social Care 356.7
    Public Health 45.9
    Environmental Services 40.9
    Cultural Services 25.6
    Other Services 26.7
  1123.3

Children's and education

Children's and education £m
Secondary Schools 32.6
Primary Schools 286.8
Children’s Social Care 127.1
Special Schools 23.1
Post 16 5.2
Other Education & Community  52.2
Nursery Schools 25.5
    Total 552.5

Highways

Highways, roads and transportation £m
Public Transport 30.2
Road Maintenance 29.6
Other Transport/Roads 9.8
Street Lighting 2.7
Traffic Management and Road Safety 2.7
    Total 75

Adult social care

Adult social care £m
Older People’s Social Care 118.3
Adults with Physical Disability or Sensory Impairment 23.6
Adults with Learning Disabilities 84.1
Adults with Mental Health Needs 9.5
Other social care 121.2
    Total 356.7

Environmental services

Environmental services £m
Waste Disposal 32.8
Community Safety 4.2
Trading Standards 3.9
    Total 40.9

Cultural services

Cultural services £m
Library Service 17.1
Country Parks, Sport and Arts 7.0
Archives 1.5
    Total 25.6

Public health

Public health £m
Sexual Health 7.2
Obesity 1.3
Substance Misuse 12.5
Smoking & Tabacco 1.7
Children 5-19 16.4
Other 6.8
    Total 45.9

Other services

Other services £m
Corporate and Democratic Core 9.6
Planning & Development 11.6
Other Services 5.4
Non Distributed Costs 0.1
    Total 26.7

Funding

Funding £m
Council Tax 298.7
Dedicated Schools Grant 312.0
National Non-Domestic Rates 104.2
New Homes Bonus Scheme 3.3
Education Services Grant 7.1
Capital Grants and Contributions 43.7
Other Government Grants 212.8
Use of General Fund Balances 3.0
Total Funding 984.8

Capital investment

Capital investment 2015/16 £m
Children & Young People 25.5
Culture & Regenration 0.9
Adult Social Care & Health 0.1
Support services & trading operations 44.4
Total 70.9

Balance sheet

This is a statement of our financial position at the end of the financial year. It is a summary of our assets and of our liabilities. During 2015/16 our total net assets increased by £225m mainly due to Pension Liability and property valuation gains

Net assets

Net assets  2014/15 2015/16
Property, plant & equipment 1185.2 1254.2
Other long term assets 31.3 34.2
Short term investments 20.0 30.0
Debtors 75.7 65.4
Other short term assets 45.2 67.5
  1357.4 1451.3
Less    
Short term borrowings -22.8 -24.1
Short term creditors and provisions -111.3 -100.8
Long term borrowings -398.8 -428.5
Other long term liabilities -142.4 -143.9
Pensions Liability -1087.7 -934.5
  -1763.0 -1631.8
     
Total net assets -405.6 -180.5

Funded by

 Funded by 2014/15 2015/16
Earmarked reserves 170.8 171
General reserves 27.0 24.0
Capital accounting and other unusable reserves 484.3 558.9
  682.1 753.9
Less Pensions reserve -1087.7 -934.5
  -405.6 -180.6

Terms

  • earmarked reserves are amounts set aside for specific purposes. They include amounts set aside for future capital investment and any unspent budgets held by schools
  • general reserves are amounts we have set aside to cover unplanned or unexpected spending demands in the future. While we we need to keep enough aside to maintain a secure financial position we keep these amounts as low as possible so that we can spend more on delivering services while minimising the call on the council tax payer
  • capital accounting and other unusable reserves are amounts held under accounting regulations and are not available for spending by the council
  • pensions reserves represent the liability to the council has to fund pensions earned by past and present employees.