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 audited 2018/19 accounts can be accessed below: 

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 2018/19 audit letter is to follow. The final 2017/18 annual audit letter can be found via the following link:

 Previous statements of accounts

Budget and financial performance

Last year we had a gross expenditure budget of £76.1 million to be able to deliver our services. The Council's planned net expenditure on services in 2018/19 was £16.8 million, an increase of 2.7% on the previous year.

In summary in 2018/19 we planned to receive:
 Income stream  Value
 Council tax from Elmbridge households £13.8m  
 General Government grant   £2.2m  
 Housing Benefit  £41.3m  
 Surplus on Collection Fund  £0.2m  
 Use of Reserves  £0.8m  
 Rental income, interest, fees and charges and other income  £17.8m  
 To fund total expenditure       £76.1m  

 

 

Financial performance 2018/19

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

 

Service area

Planned spend

£000

Actual spend

£000

Community development  330  338
 Corporate development  2,784  2,691
 Environment and economy  4,990  5,519
 Highways and transport  (1,552)  (2,385)
 Housing  2,458  2,366
 Leisure and culture  5,002  5,405
 Licensing committee  197  208
 Resources  3,496  2,642
 Social  3,185  3,062
 Planning committee  2,027  2,902
 Net cost of all services  22,917               22,748
 Asset rentals  (3,682)  (3,680)
 Interest on balances  (900)  (1,062)
 Contribution from interest equalisation reserve  -  162
 Investment properties  (3,455)  (3,386)
 New Homes Bonus  (1,102)  (1,126)
 Contribution to New Homes Bonus / Property Acquisition Reserve  960  960
 Transfer from council tax freeze grant reserve  (157)  (157)
 To / (from) earmarked reserves  17  45
 Capital financing  2,207  2,301
 Total  16,805      16,805

 

Unspent budgets for specific projects not completed within the year have been carried forward to the current year (2019/20).

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 11.5% 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 £120m in council tax for all of the above organisations, with a collection rate of 98.9%, 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 99.2%.

Organisation  Money  Percentage 
Where the money went in 2018/19 (based on Band D)
 Surrey County Council  £1,411.29  75.8%
 Elmbridge Borough Council  £215.00  11.5%
 Surrey Police  £236.57  12.7%
 Total (Band D)  £1,862.86      100%

 

Net Expenditure - Every pound last year was spent on
 Service  From £1 spent
 Environment and Highways £3.1m e.g. recycling and refuse collection  14p
 Leisure and culture £5.4m e.g. parks, museum and open spaces  24p
 Social affairs £3.1m e.g. community transport  14p
 Corporate development £2.7m e.g. electoral registration  12p
 Planning and Licensing £3.1m e.g. processing planning applications  14p
 Housing £2.4m e.g. securing affordable homes  10p
 Resources £2.6m e.g. council tax collection  11p
 Community development £0.3m e.g. CCTV  1p

   

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 2018/19 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 2018/19 were:

    

 2018/19     

£'000

 Investment properties 18,197
 Sports Hub, Waterside Drive  86
 Brooklands Culvert  300
 Vehicles including waste vehicles  158
 Other public building acquisition and enhancements  978
 Private sector housing grants  568
 Affordable housing grants/loans  207
 Grant expenditure - CIL/ECIF/other  1,365
 Other  129
 IT development/investment  282
 Community transport/centre enhancements  166
 Car park improvements  1,526
 Playground refurbishments/tennis courts  486
 Total  24,448   

 

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