2011/2012 audited annual accounts - Falkirk Council

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42. Non-Domestic Rates Account FALKIRK COUNCIL NOTES TO THE CORE FINANCIAL STATEMENTS Non-Domestic Rates are a tax levied by local authorities on the occupiers of commercial, industrial and other non-domestic properties within their area, as distinct from a charge for their use of services. The rates charge for each property is determined by the rateable value placed upon it by the Assessor, multiplied by the National Rate Poundage which is set by Scottish Ministers. The Rate Poundage was set at 42.6 pence. The small business bonus scheme provides relief ranging from 25% to 100% for properties with rateable values of £18,000 and less. The cost of the small business bonus scheme was met from a supplement of 7 pence on properties with rateable values in excess of £35,000. Although councils bill and collect the sums due, these are paid into the National Non-Domestic Rate Pool and allocated back to councils by the Scottish Government. 2010/11 2011/12 £’000 INCOME £000 71,385 Rate Levied (Net of Small Property Relief) 75,070 71,385 TOTAL INCOME 75,070 EXPENDITURE - Small Business Relief (Excludes Small Property Relief) - 2,876 Small Business Bonus Scheme 3,222 1,378 Rating (Disabled Persons) Relief 1,450 1,683 Mandatory Relief 2,411 209 Discretionary Relief 343 87 Sports Club Relief 85 3,073 Voids and Empty Periods 2,818 806 Write-Off of Uncollectable Debts 836 12 Other Adjustments - - Interest on Overpaid Rates - 10,124 TOTAL EXPENDITURE 11,165 61,261 Net Non-Domestic Rate Income 63,905 (963) Adjustments to previous years National Non Domestic Rates (1,077) 60,298 CONTRIBUTION TO NON-DOMESTIC RATE POOL 62,828 60,652 Distribution from Non-Domestic Rate Pool INCOME CREDITED TO THE COMPREHENSIVE INCOME AND 55,518 60,652 EXPENDITURE STATEMENT 55,518 43. Non-Domestic Rates Account Disclosures a) Analysis of Rateable Values as at 1 April, 2011 No. of Premises Rateable Value £’000 % Shops 1,316 40,316 23.1 Hotels and Public Houses 139 4,935 2.8 Offices 886 13,897 7.9 Industrial – Factories, Warehouses, Stores and Workshops 1,263 39,433 22.5 Sports, Leisure, Cultural, Entertainment, Caravans, Holiday Sites 189 4,763 2.7 Garages and Petrol Stations 78 2,364 1.4 Education and Training 87 11,987 6.9 Public Service Subjects 168 6,507 3.7 Quarries and Mines 18 2,254 1.3 Petrochemical 15 29,555 16.9 Religious 156 1,167 0.7 Health/Medical and Care Facilities 155 9,444 5.4 Utilities 20 7,130 4.1 Communications, Advertising and Other 217 992 0.6 Total 4,707 174,744 100.0 b) National Non-Domestic Rates Pool The contribution to Non-Domestic Rate Pool represents the rates collected by the Council and paid over to the Government. The income credited to the Comprehensive Income and Expenditure Statement represents the sum received from the Government from the National Rates Pool, distributed through the Local Government Finance Settlement. 98
44. Common Good Funds FALKIRK COUNCIL NOTES TO THE CORE FINANCIAL STATEMENTS Common Good Funds were inherited from the former burgh authorities of Bo’ness, Denny, Grangemouth and Falkirk in 1975 and are used solely for the benefit of the residents of these areas. Kilns House is part of the former Falkirk Town Council and was revalued at 1 April 2008. 2010/11 £’000 Income and Expenditure Account Former Bo’ness Town Council 2011/12 £’000 99 Former Denny Town Council 2011/12 £’000 Former Grangemouth Town Council 2011/12 £’000 Former Falkirk Town Council 2011/12 £’000 TOTAL £’000 Income (22) Rents Received (1) - - (21) (22) (4) Interest - - - (4) (4) (26) (1) - - (25) (26) Expenditure - Depreciation - - - 28 28 25 Other - - - - - 25 - - - 28 28 (1) (Surplus)/Deficit for Year (1) - - 3 2 Balance Sheet 235 Fixed Assets - - - 207 207 843 Investments 59 6 26 778 869 1,078 Net Assets 59 6 26 985 1,076 Financed by:- 235 Asset Revaluation Reserve - - - 207 207 843 Revenue Reserve 59 6 26 778 869 1,078 59 6 26 985 1,076 Bryan Smail, CPFA MBA Chief Finance Officer 25 September 2012
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Annual Report & Accounts 2011/2012
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FALKIRK COUNCIL INTRODUCTION TO THE
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FALKIRK COUNCIL Supplementary Finan
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FALKIRK COUNCIL The Council’s Gen
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8. PRINCIPAL SOURCES OF FINANCE FAL
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FALKIRK COUNCIL Government grant le
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FALKIRK COUNCIL Activity is account
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12. CONTINGENT LIABILITIES FALKIRK
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FALKIRK COUNCIL 15. REVENUE EXPENDI
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FALKIRK COUNCIL These two cost cate
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Post Employment Benefits FALKIRK CO
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The Council as Lessee Finance Lease
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Loans and Receivables FALKIRK COUNC
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FALKIRK COUNCIL Impairment Assets a
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FALKIRK COUNCIL Further information
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FALKIRK COUNCIL STATEMENT OF RESPON
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FALKIRK COUNCIL Principle 2 - Membe
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System of Internal Financial Contro
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FALKIRK COUNCIL FALKIRK COUNCIL ANN
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FALKIRK COUNCIL 3. Disclosure - Loc
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Surname Forename Post FALKIRK COUNC
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FALKIRK COUNCIL There were no payme
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FALKIRK COUNCIL a) Pension Rights o
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FALKIRK COUNCIL c) Pension Rights o
Page 49 and 50: FALKIRK COUNCIL COMPREHENSIVE INCOM
Page 51 and 52: FALKIRK COUNCIL CASH FLOW STATEMENT
Page 53 and 54: NOTES 1. Analysis of Other Comprehe
Page 55 and 56: 2h. Other Adjustments Adjustment be
Page 57 and 58: NOTES 1. Analysis of Other Comprehe
Page 59 and 60: 2h. Other Adjustments Adjustment be
Page 61 and 62: FALKIRK COUNCIL 3.(a) Amounts Repor
Page 63 and 64: 3(b). Amounts Reported for Resource
Page 65 and 66: 4. Related Party Transactions FALKI
Page 67 and 68: FALKIRK COUNCIL NOTES TO THE CORE F
Page 75 and 76: 14.(a) Property, Plant & Equipment
Page 77 and 78: 15.(a) Heritage Assets FALKIRK COUN
Page 79 and 80: 16. Other Capital Notes FALKIRK COU
Page 81 and 82: 18. Capital Expenditure and Capital
Page 85 and 86: 27.(a) Inventories An analysis of s
Page 87 and 88: 28. Construction Contracts FALKIRK
Page 89 and 90: 32. Grant Income FALKIRK COUNCIL NO
Page 93 and 94: 33.(c)(ii) Credit risk FALKIRK COUN
Page 97 and 98: 39. Housing Revenue Account Disclos
Page 99: 41. Council Tax Account Disclosures
Page 103 and 104: FALKIRK COUNCIL GROUP BALANCE SHEET
Page 105 and 106: FALKIRK COUNCIL GROUP MOVEMENT IN R
Page 113 and 114: 1. Group Accounting Policies FALKIR
Page 115 and 116: FALKIRK COUNCIL NOTES TO THE GROUP
Page 117 and 118: 8(b). Amounts Reported for Resource
Page 119 and 120: FALKIRK COUNCIL GLOSSARY OF TERMS W
Page 121 and 122: FALKIRK COUNCIL 29. Transport Costs
Page 123: Matters on which I am required to r
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2011/2012 audited annual accounts - Falkirk Council

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