I am pleased to introduce the Council's Draft Statement of Accounts for 2016-17. These statements summarise the financial performance of the Council during 2016-17 showing expenditure on all services during the year and the financial position at 31st March 2017 and incorporates all the statements and disclosure notes required by statute.
The Council incurs revenue and capital expenditure during the course of any financial year in the delivery of services. All expenditure must be charged against a revenue account of the Authority unless it can be classified as capital-type expenditure. Generally speaking, revenue expenditure relates to items consumed within the year whereas capital expenditure creates an asset which has a useful life beyond one year. Revenue expenditure is largely financed from government grants, non-domestic rates, council taxes, fees and charges and interest income. Capital spending is financed mainly from capital receipts, government grants, revenue contributions and long-term borrowing.
The Council's draft accounts for the financial year 2016-17 are set out in full via the link below. The prior year's accounts are also given for comparison.
Chief Finance Officer