Financial performance and annual accounts

We want the council's finances to be as clear and open as possible. We also believe it is important to explain our budgeting processes in a clear and accessible format. We account to you for the ways in which we spend your money.

Statement of accounts

The statement of accounts is by definition a statutory, formal document which sets out a high level view of how the money has been spent and where the money has come from. Since it is designed to meet specific government and accounting requirements, it is a technical document which means that it is not always easy to understand. The unaudited 2021/22 accounts were published on 01 July 2022 and can be accessed below along with annual governance statement for 2021/22, the required declaration by the responsible officer and the statement for the exercise of public rights.

The council's external auditors provide an annual audit letter which sets out the findings from their work on the statement of accounts and related matters. The final 2020/21 annual audit letter can be accessed below:

 Previous statements of accounts

Budget and financial performance

Last year we had a gross expenditure budget of £77.2 million to be able to deliver our services. The Council's planned net expenditure on services in 2020/21 was £18.7 million, an increase of 5.8% on the previous year.

In summary in 2020/21 we planned to receive:

Income stream and value

  •  Council tax from Elmbridge households: £14.8m  
  •  General Government grant: £2.3m  
  •  Housing Benefit: £36.3m  
  •  Surplus on Collection Fund: £1.6m  
  •  Use of Reserves: £1.0m  
  •  Rental income, interest, fees and charges and other income: £21.2m  
  •  To fund total expenditure: £77.2m  

Financial performance 2020/21

The following provides a summary of the council's income and expenditure for the year. A full copy of the statement of accounts is available.

Figures are in £000

Service areas:

  • Community development - Planned: 330 Actual: 300
  •  Corporate development -  Planned: 2,606 Actual: 2,172
  •  Environment and economy – Planned: 6,006 Actual: 5,691
  •  Highways and transport – Planned: (1,488) Actual: 977
  •  Housing – Planned: 2,633 Actual: 2,332
  •  Leisure and culture – Planned: 5,681 Actual: 5,344
  •  Licensing committee – Planned: 281 Actual: 264
  •  Resources – Planned: 3,951 Actual: 3,100
  •  Social -  Planned: 3,504 Actual: 3,561
  •  Planning committee – Planned: 2,507 Actual: 2,452
  • Covid 19 - Planned: 0 Actual:2,107 
  •  Net cost of all services – Planned: 26,011 Actual: 28,300
  •  Depreciation reversal - Planned (4,239) Actual (4,239)
  •  Interest on balances - Planned: (1,100) Actual: (1,011)
  •  Covid 19 Grants - Planned: 0 Actual: (5,064)
  •  Contribution from interest equalisation reserve - Planned: - Actual: (89)
  •  Investment properties – Planned: (3,808) Actual: (3,076)
  •  New Homes Bonus – Planned: (864) Actual: (864)
  •  Contribution to New Homes Bonus / Property Acquisition Reserve - Planned: 864 Actual: 864
  •  Transfer from Council tax freeze grant reserve - Planned: (150) Actual: (150)
  •  Transfer from Business Rates Reserve - Planned (817) Actual: (817)
  •  Transfer from Rent Risk Reserve - Planned: 0 Actual: (350)
  •  To / (from) earmarked reserves -  Planned: (5) Actual: 1,076
  •  Capital financing - Planned: 2,798 Actual: 2,795
  •  Total - Planned: 18,690  Actual: 17,375

Unspent budgets for specific projects not completed within the year have been carried forward to the current year (2021/22).

The Council has put in place arrangements for the identification and management of risk, with robust policies and procedures covering all aspects of the authority's activities. This ensures that both strategic and operational risks are fully considered in the development of improvement plans and projects, and in the effective delivery of services. The Council's approach to risk management is available from the Head of Finance.

Council tax

Although Elmbridge Borough Council collects all of the council tax for the Borough, we actually only receive 11.3% of the money collected. The bulk of the money goes to Surrey County Council and Surrey Police for their services in this Borough. Residents living in Claygate pay slightly more as a contribution to the Claygate Parish Council, which is set by the Parish Councillors themselves. Last year we collected a total of £131m in council tax for all of the above organisations, with a collection rate of 98.4%, one of the best in the Country. We also collect business rates acting as an agent for Central Government and Surrey County Council, and as principal in respect of our own proportion of receipts under the new Business Rates Retention Scheme, where the collection rate was 94.6%.

Where the money went in 2020/21 (based on Band D)

  •  Surrey County Council: £1,511.46 (75.2%)
  •  Elmbridge Borough Council: £226.30 (11.3%)
  •  Surrey Police: £270.57 (13.5%)
  •  Total (Band D): £2,008.33  (100%)

Net Expenditure - Every pound last year was spent on

  •  Environment and Highways £6.7m e.g. recycling and refuse collection: 23p in every £1
  •  Leisure and culture £5.3m e.g. parks, museum and open spaces: 19p in every £1
  •  Social affairs £3.6m e.g. community transport: 13p in every £1
  •  Corporate development £2.2m e.g. electoral registration: 8p in every £1
  •  Planning and Licensing £2.7m e.g. processing planning applications: 10p in every £1
  •  Housing £2.3m e.g. securing affordable homes: 8p in every £1
  •  Resources £3.1m e.g. council tax collection: 11p in every £1
  •  Community development £0.3m e.g. CCTV: 1p in every £1
  • Covid 19 £2.1m e.g. closure of leisure facilities, homelessness: 7p in every £1

Our capital programme

In addition to income and expenditure on the day to day running of our services, we have what is called a 'capital programme' for funding large projects such as renovation of buildings and purchase of new assets. The Capital Programme for 2020/21 was financed from CIL and other grants and contributions, capital receipts received from the sale of surplus property, revenue underspends and external borrowing.  View a more detailed list of the Council's investment in capital projects.

The major items of capital expenditure in 2020/21 were:

Figures in £'000

  •  Economic regeneration acquisitions: 6,803
  •  Grant Expenditure - CIL/ECIF/Other: 1,341
  •  Other Public Building Acquisition and Enhancements: 624
  •  Claygate Pavilion: 537
  •  Hersham Village Hall: 526
  •  Private sector housing grants: 459
  •  Affordable housing grants/loans:395
  •  IT development/investment: 290
  •  Car park improvements: 284
  •  Barnet House: 261
  •  Weybridge Street Scape: 220
  •  Weybridge Hall flat conversion: 137
  •  Community transport/centre enhancements: 99
  •  Elmbridge Public Space CCTV upgrades: 88
  •  Other: 86
  •  Vehicles: 46
  •  Sports Hub, Waterside Drive: 15
  • Playground Refurbishments/Tennis Courts: 14
  •  Total: 12,225

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