Summary Accounts 2014-15

Introduction

Overview of the Council's spending during the past financial year.

These summary accounts are not subject to audit, they are derived from the 2014-15 Statement of Accounts which runs to 137 pages. The full accounts are available on our Council budgets and spending page.

The Income and Expenditure statement shows a deficit of £24.8m in 2014-15. However this deficit disappears if the revaluation of assets is taken out. The actual spend chargeable against Council Tax was £417.2m, which was £3.4m under budget.

We invested £113.9m in capital projects across the district during the year.

At 31 March 2015 the Council had £33.7m of corporate reserves available to support future spending.

The Council’s net financial worth (assets less liabilities) is -£16.5m. This may look quite low but it includes £734m of pension liabilities that will have to be paid out in future years. We plan to recover this deficit over the next 21 years.

Two Community Schools converted to Academies in 2014-15. As the Council no longer has influence over these schools, these conversions are treated in the SOA as asset disposals for no payment. In 2014-15 this led to a reduction of £7.3m in the value of Property, Plant and Equipment shown on the Balance Sheet as at 31 March 2015.

Service Analysis 2014-15

All Services £million
Employee Expenses 550.4
Other service expenses 688.0
Capital Charges 84.5
Total Expenditure 1,322.9
Fees, charges and other service income -170.6
Government grants and contributions -739.7
Total Income -910.3
Net Expenditure 412.6
West Yorkshire Integrated Transport Authority 23.9
Other non-service adjustments 2.3
Cost of services per income and expenditure 438.8

The tables below show the sub-totals for council services.

Education and Children's Services

  £million
Employee Expenses 379.2
Other service expenses 204.9
Capital Charges 50.8
Total Expenditure 634.9
Fees, charges and other service income -39.3
Government grants and contributions -486.1
Total Income -525.5
Net Expenditure 109.4

Adult and Community Services

  £million
Employee Expenses 35.9
Other service expenses 141.8
Capital Charges 1.2
Total Expenditure 178.9
Fees, charges and other service income -29.0
Government grants and contributions -19.6
Total Income -48.6
Net Expenditure 130.3

Regeneration and Culture

  £million
Employee Expenses 48.0
Other service expenses 68.2
Capital Charges 18.7
Total Expenditure 134.8
Fees, charges and other service income -60.6
Government grants and contributions -11.1
Total Income -71.7
Net Expenditure 63.1

Environment and Sport

  £million
Employee Expenses 45.7
Other service expenses 32.3
Capital Charges 9.2
Total Expenditure 87.3
Fees, charges and other service income -27.9
Government grants and contributions -1.6
Total Income -29.6
Net Expenditure 57.7

Public Health

  £million
Employee Expenses 2.9
Other service expenses 33.2
Capital Charges 0.0
Total Expenditure 36.2
Fees, charges and other service income -0.9
Government grants and contributions -35.3
Total Income -36.3
Net Expenditure -0.1

Central, Corporate and Non-service

  £million
Employee Expenses 38.8
Other service expenses 207.5
Capital Charges 4.6
Total Expenditure 250.9
Fees, charges and other service income -12.8
Government grants and contributions -185.9
Total Income -198.7
Net Expenditure 52.2

Comprehensive Income and Expenditure Analysis

Income and Expenditure (I&E) 2014-15

Description Net Expenditure £million
Education and Children's services 134.3
Adult Social Care 124.9
Highway and transport services 48.0
Environment and regulatory 43.6
Culture and Related services 31.0
Housing services 24.0
Planning and Development services 18.8
Corporate and Democratic Core 8.7
Central services to the public -1.0
Public Health 0.5
Non-distributed costs 6.1
Exceptional Items 0.0
Cost of services 438.8
Other Operating Expenditure (Note 8a) 2.4
Financing and investment income and expenditure (Note 8b) 75.9
Taxation and non-specific grant income (Note 8c) -492.4
Surplus (-)/Deficit on provision of services 24.8
Surplus (-)/Deficit on revaluation of non-current assets -12.9
Re-measurement of Pension net defined benefit/liability 89.1
Other Comprehensive I&E 76.3
Total Comprehensive I&E 101.0

General Fund 2014-15

Description Net Expenditure £million
Total Comprehensive I&E 101.0
Reverse out Other Comprehensive I&E -76.3
Reverse out capital transactions not charged to the General Fund 1.8
Reverse out other transactions not charged to the General Fund -33.5
Sub-total -6.9
Transfers to revenue reserves 9.1
Total 2.2
Balance brought forward 1 April 51.3
Deficit for the year

-2.2

General Fund 31 March 2015 49.1

Balance Sheet and Cash Flow

Balance Sheet

Description £million
Property, Plant and Equipment 1,112.3
Heritage Assets 35.8
Investment Property 47.9
Intangible assets 3.7
Long term debtors 1.7
Long Term Assets 1,201.5
   
Short term Investments 53.7
Assets held for sale 2.8
Inventories 2.2
Short term debtors 84.3
Cash and cash equivalents 99.3
Current Assets 242.3
   
Cash and cash equivalents -4.4
Short term borrowing -59.4
Short term creditors -103.9
Provisions -10.6
Current Liabilities -178.3
   
Provisions -10.4
Long term borrowing -332.1
Other long term liabilities -933.2
Deferred income 0.0
Capital grants receipts in advance -6.4
Long Term Liabilities -1,282.1
   
Net Assets -16.5
   
Cash reserves -218.0
Non-cash reserves 234.5
Total Reserves 16.5
   

Cash Flow Statement

Description £million
Net (surplus) or deficit on provision of services (see I&E) 24.8
Reverse out non-cash movements -182.5
Reverse out investing and financing transactions shown elsewhere 66.4
Include interest and dividends received and paid 45.0
Net cash flows from Operating Activities -46.4
Investing activities 0.8
Financing activities 33.4
Net (increase) or decrease in cash and cash equivalents

-12.2

   
Balance Sheet Movement  
Cash and cash equivalents at beginning of reporting period 82.8
Cash and cash equivalents at end of reporting period 95.0
Net (increase) or decrease in cash and cash equivalents -12.2

Capital Summary 2014-15

Capital Expenditure

Description £million
Children's and Young People  
Primary schools expansion programme 17.4
Targeted basic needs 16.6
   
Property and Economic Development  
City Centre Growth Zone 9.2
Office rationalisation/former library 5.8
Tyrls redevelopment 4.0
Essential maintenance 2.1
Property Programme (formerly B-Works) 1.6
Odeon Cinema 1.2
   
Highways and Transport  
Capital highway maintenance 2.9
Local Pinch Points 1.9
Bridges 1.3
Pothole Fund 1.0
   
Climate, Housing, Employment & Skills  
Affordable housing programme 7.0
Disabled housing facilities 2.7
Carbon efficiencies 1.2
   
Environment and Sport  
Vehicle replacement 7.1
City Centre Sports Facility 1.0
   
Other 29.9
Total 113.9

Capital Financing

Description £million
Government and other grants 76.0
Borrowing paid back in future years 23.1
Revenue contributions/ revenue reserves 10.2
Receipts from sale of land and buildings 4.4
Other finance leases 0.2
Total 113.9

The Collection Fund

The council is responsible for collecting council tax within Bradford on behalf of itself, the West Yorkshire Police and the Fire Service. This is done via a separate ringfenced account called the Collection Fund.

The Council also collects Business Rates. It retains a 49% share of these, with the remaining amounts going to Central Government and the Fire Service.

At the end of 2014/15 the Council's share of the Collection Fund had a deficit of £5.1m, which will have to be recovered in future years.

Contingent Liabilities/Assets

The Balance Sheet includes creditors and provisions for cases where the council is reasonably sure that it will have to meet particular costs in the future. However there are other cases where there is uncertainty over whether the council may or may not have to pay out future costs, or receive income. These cases are called Contingent Liabilities, or Contingent Assets in the case of receiving income.

They are described in the Statement of Accounts but the council does not have to set aside any money to cover them so long as they are still uncertain.

At 31st March 2015, the council's Contingent Liabilities included an agreement to guarantee the pension funds of various outside bodies. Contingent Assets included an outstanding claim with HM Revenue and Customs.