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

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16 Operating leases There is a sub-lease for accommodation and facilities with the Department for Work and Pensions which expires 31 March 2018. The charges to the ILF are set in the head lease between the Department and Land Securities Trillium, and the ILF is not able to control or verify the amounts charged. The facilities element is calculated quarterly and may be abated by penalties for failure to deliver the agreed service level. There is a software licence with Ceridian Centrefile Ltd for a HR payroll system which expires on 31 March 2012. Negotiations are ongoing to replace this lease with a new contract for improved services during 2010-11. There is a three-year operating lease for a car for the use of the Chief Executive as part of his loan agreement; allowable petrol costs are claimed as expenses in accordance with ILF travel and expenses policy. Total future minimum lease payments under operating leases for each of the following periods were: 31 Mar 2010 31 Mar 2009 1 Apr 2008 £,000 £,000 £,000 Land and buildings (Equinox House) within one year 1,068 1,109 1,109 within two to five years 4,272 4,436 4,436 after five years 3,204 4,436 5,545 -------------- -------------- -------------- 8,544 9,981 11,090 -------------- -------------- -------------- Other leases within one year 15 8 8 within two to five years 30 16 24 after five years - - - -------------- -------------- -------------- 45 24 32 -------------- -------------- -------------- 94 Independent Living Fund (2006)
Notes to the Accounts for the year ended 31 March 2010 (continued) 17 Trustees’ remuneration, interests and indemnities The Trustees receive remuneration from the Department for Work and Pensions, which passes costs on to the ILF. The total remuneration paid to nine Trustees was £141,000 for 2009-10 and further information is provided in the Remuneration Report (£142,000 for 2008-09). Trustees received reimbursement for travel and subsistence expenses amounting to £11,000 for 2009-10 (£11,000 for 2008-09). For 2008-09 and 2009- 10, one Trustee was a beneficiary of the ILF and received payments in accordance with the objects of the Fund; a procedure is in place to manage actual or perceived conflicts of interest. No other transactions were undertaken in which any Trustee or person connected with any Trustee had a material interest. There are no policies of insurance against loss arising from the neglect or default of the Trustees, nor any policies providing an indemnity for Trustees in respect of the consequences of any such loss. By the terms of the Trust Deed, the Secretary of State for Work and Pensions provides that Trustees are not personally liable for any loss to the ILF other than that arising from wilful and individual fraud, wrongdoing or omission on the part of a Trustee who is found to be liable. 18 Related party transactions The ILF is administered by Trustees appointed by the Secretary of State for Work and Pensions. Related parties are the Trustees, all parts of the Department for Work and Pensions including its agencies (representing the Secretary of State), and the Department for Social Development in Northern Ireland. The Trustees are the controlling party. For 2008-09 and 2009-10, one Trustee was a beneficiary of the ILF and received discretionary grants in accordance with the objects of the Fund. An appropriate procedure is in place to manage actual or perceived conflicts of interest. No other related parties, including the Trustees and key management staff, have undertaken any transactions with the ILF during 2008-09 or 2009-10. 95 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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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
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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 95: Notes to the Accounts for the year
Page 100: Published by TSO (The Stationery Of
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