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Summary and statement of accounts

Summary - 2007/08

Introduction

Each year we publish our full Statement of Accounts PDF 2Mb (download Acrobat Reader) in accordance with legal requirements and proper accounting practices. The Audit Commission formally approved our accounts for 2007/08 in September 2008. This simple statement aims to make our accounts easier to understand. It summarises how we spent our budget of £62m for the year and also where the money came from.

The Authority has achieved excellent results in the Audit Commission's latest national assessment of performance. For the second year running we attained the top score of `4' for the way we deliver our services to the public and are considered to be performing strongly. In the use of resources assessment, we were judged to be performing well with a score of `3'. In our overall 'direction of travel', we were considered to be improving well with a score of `3'.

What did we spend?

This table summarises the cost of running our services for last year. It shows where the money came from and the change in our general balance (reserves) at the end of the year.

What did we spend money on? £m
Fire safety activities 7
Firefighting and rescue operations 57
Governance arrangements 1
Net cost of services 65
Other income and expenditure 8
Accounting adjustments -11
Net expenditure for the year 62
Where did the money come from?  
Council Tax 35
General Government grant 4
Business Rates 24
General balance at the start of the year 2
Change in general balance 0
General balance at the end of the year 2

Capital expenditure

Capital expenditure is money spent on creating, purchasing or improving our assets. We spent £7m on capital projects in 2007/08.

What we spent it on: £m How we paid for it: £m
Vehicles 2 Loans 5
HQ development project 4 Proceeds from sales of surplus assets 1
Other 1 Other` 1
Total 7 Total 7

What we own and what we owe

This balance sheet shows our assets (what we own), our liabilities (what we owe) and how they are funded at the end of the financial year.

Assets and Liabilities £m Funded by: £m
Land, buildings, vehicles and other assets 106 Reserves not available for distribution 93
Money owed to the Authority 2 Reserves 3
Stocks 1 Pension liability reserve -334
Money owed by the Authority -13  
Future pensions liability -334  
Total -238 Total -238

The future pensions liability is the cost of future pension payments to staff based on service to 31 March 2008. It is matched by a pensions reserve and has no impact on the Council Tax.

Further information

Our full Statement of Accounts is available for downloading - download Statement of Accounts 2007/08... PDF 2Mb (download Acrobat Reader)

We would welcome views on its format and usefulness. Please contact Jane Lovett via e-mail (jane.lovett@hants.gov.uk) or by phone 01962 847518 with your comments or requests for any further information or clarification .