2011/2012 audited annual accounts - Falkirk Council

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FALKIRK COUNCIL 14. Financial Instruments Adjustment Account This is a balancing account to allow for differences in statutory requirements and proper accounting practices for borrowing and lending. This account is a technical accounting presentation and is not available for distribution. 15. Financing Costs This includes the costs of financing the sums borrowed by the Council to cover the capital repayment of loans, interest charges and debt management expenses, as well as external repayments for operational leases. 16. Fixed or Non-Current Assets These are created by capital expenditure incurred by the Council. They include property, vehicles, plant, machinery, roads, computer equipment, etc. 17. Generally Accepted Accounting Practice in the UK (UK GAAP) This is the overall body of regulation that established how company and local authority accounts had to be prepared in the United Kingdom (prior to the transition to International Financial Reporting Standards). 18. Gross Expenditure This includes all expenditure attributable to the service and activity including employee costs, expenditure relating to premises and transport, supplies and services, third party payments, support services and capital charges. 19. Gross Income This includes the charges to individuals and organisations for the direct use of the Council’s services. 20. Joint Venture This is an entity in which the Council has an interest on a long-term basis and is jointly controlled by the Council and one or more entities under a contractual or other binding agreement. 21. Non-Distributable Costs These costs cannot be allocated to specific services and are, therefore, excluded from the total cost relating to service activity in accordance with the Service Reporting Code of Practice. Charges for added pension years and early retirement are examples of these costs. 22. Payments to Other Bodies This includes grants to individuals and organisations, bursaries as well as payments to other local authorities, Health Boards, Joint Boards and organisations providing services that complement or supplement the work of the Council. 23. Pension Reserve This represents the difference between accounting for pension costs in line with UK Accounting Standards, and the funding of pension costs from taxation in line with statutory requirements, and is equal to the change in the pension liability (i.e. the commitment to provide retirement benefits). 24. Property Costs This includes rents, rates, insurance, repairs and maintenance, upkeep of grounds, heating, lighting, furnishings and fittings. 25. Revaluation Reserve This fund is a store of gains on the revaluation of fixed assets not yet realised through sales. This reserve is a technical accounting presentation and is not available for distribution. 26. Specific Government Grant This includes grants received from Central Government in respect of a specific purpose or service (e.g. housing benefit, education, community regeneration, or community services). 27. Supplies & Services This includes food, materials, books, uniforms, protective clothing, the purchase of equipment, the purchase of tools, the maintenance of equipment or tools, and various services that are conducted by external contractors. 28. Transfer Payments This includes the cost of payments to individuals for which no goods or services are received in return by the local authority e.g. Housing Benefit. 118
FALKIRK COUNCIL 29. Transport Costs This includes the costs of operating vehicles and plant such as fuel, repairs, maintenance, tyres, licences, insurance and the procurement of transport for school children. 30. Various Other Costs This relates to items of expenditure that do not fall into any of the other categories. 119
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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
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FALKIRK COUNCIL COMPREHENSIVE INCOM
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FALKIRK COUNCIL CASH FLOW STATEMENT
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NOTES 1. Analysis of Other Comprehe
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2h. Other Adjustments Adjustment be
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NOTES 1. Analysis of Other Comprehe
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2h. Other Adjustments Adjustment be
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FALKIRK COUNCIL 3.(a) Amounts Repor
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3(b). Amounts Reported for Resource
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4. Related Party Transactions FALKI
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FALKIRK COUNCIL NOTES TO THE CORE F
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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 and 100: 41. Council Tax Account Disclosures
Page 101 and 102: 44. Common Good Funds FALKIRK COUNC
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: FALKIRK COUNCIL GLOSSARY OF TERMS W
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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