Annual Report and Accounts 2009-10 - Welfare Reform impact ...

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Formal recovery is managed by a specialist team within the ILF and amounts with repayment arrangements in place are recorded for debt management purposes. Where unspent moneys are returned by individuals in the normal course of business (see note 2(i)) those amounts are not included in the formal recovery system as there has been no inappropriate payment. Grants under formal recovery comprise amounts originally paid to individuals, which are now under formal recovery, mostly by instalments or deductions from ongoing payments. Recoveries are profiled over the expected repayment period, and the amounts are discounted to present day value. Impairment is also considered, in particular where there is a probability that recovery arrangements may not be sustained for a prolonged period. Of the recoveries due over one year, £510,000 is expected to be received within the next two to five years and £257,000 is expected to be received within the next five to 10 years (£415,000 and £199,000 respectively at 31 March 2009). Formal recovery includes a number of processes, such as factual investigation, identification of a presumed receivable, negotiation to achieve acknowledgement of a formal receivable, civil proceedings for recovery, and repayment in full or by agreed instalment schedule. A receivable is only recognised in the accounts when all the steps of the process have been completed and it is probable that economic benefits will flow to the ILF. 90 Independent Living Fund (2006)
Notes to the Accounts for the year ended 31 March 2010 (continued) 12 Cash and cash equivalents 2009-10 2008-09 £,000 £,000 Balance at 1 April 2009 7,307 7,970 Net cash inflow/(outflow) 4,292 (663) -------------- -------------- Balance at 31 March 2010 11,599 7,307 -------------- -------------- 31 Mar 2010 31 Mar 2009 1 Apr 2008 £,000 £,000 £,000 Balances apportioned to Benefit account 11,412 7,302 7,773 Administration account 187 5 197 -------------- -------------- -------------- 11,599 7,307 7,970 -------------- -------------- -------------- Cash and cash equivalents comprise bank balances which are held in current accounts in a UK commercial bank. 13 Current liabilities (a) Amounts falling due for payment within one year 31 Mar 2010 31 Mar 2009 1 Apr 2008 £,000 £,000 £,000 Grant liabilities 12,811 11,185 9,593 Trade payables 533 219 321 Accruals 350 227 243 -------------- -------------- -------------- 13,694 11,631 10,157 -------------- -------------- -------------- (b) There were no amounts falling due for payment after one year. 91 Annual Report and Accounts 2009-10
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Independent Living Fund (2006) Annu
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Independent Living Fund (2006). Ann
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Contents. About us 4 Engaging effec
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5 Annual Report and Accounts 2009-1
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A message from the Chairman and the
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Our values and behaviours. The ILF
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11 Annual Report and Accounts 2009-
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Delivering a high quality service t
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Strategic aim 1 Our application cle
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A new advisory group supports our T
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Strategic aim 2 At the event, we la
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Strategic aim 3. Engaging proactive
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23 Annual Report and Accounts 2009-
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Strategic aim 4 Finally, our commit
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Audit service The Comptroller and A
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Strategic aim 5 Business continuity
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Increasingly, the experiences and n
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The ILF prides itself in placing us
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Introducing the people behind the I
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Introducing the people behind the I
Page 41 and 42: 39 Annual Report and Accounts 2009-
Page 43 and 44: Trustees’ appointments, training
Page 45 and 46: Management Commentary • Biannual
Page 47 and 48: Management Commentary The ILF reque
Page 49 and 50: Statement of Accounting Officer’s
Page 51 and 52: • to be appraised by the Chief Ex
Page 53 and 54: Remuneration Report for the year en
Page 63 and 64: Capacity to handle risk Whilst ever
Page 65 and 66: Statement on Internal Control for t
Page 67 and 68: Statement on Internal Control for t
Page 69 and 70: The Certificate and Report of the C
Page 71 and 72: The Certificate and Report of the C
Page 73 and 74: Statement of Financial Position as
Page 75 and 76: Statement of Cash Flows for the yea
Page 77 and 78: Transferred Assets Reserve - relate
Page 79 and 80: In the current year the FReM includ
Page 81 and 82: Notes to the Accounts for the year
Page 91: Notes to the Accounts for the year
Page 100: Published by TSO (The Stationery Of
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