Statement of Accounts 2011/2012 - Blackburn with Darwen Borough ...

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FINANCIAL REPORT 2011/2012 Schools’ related variations: Savings across schools’ budgets - 1,640 Building Schools for the Future – additional income from partners - 310 Building Schools for the Future – PFI charges (funded from government grant) + 1,730 - 220 Other variations to budgets - 673 Actual expenditure 148,585 4.4 Individual variations greater than £250,000 have been identified above. The remaining net changes to budgets of £0.673M has ensured the delivery of services to around 0.42% of its overall budget. 5.0 Capital Expenditure 5.1 The Council spent a total of £44,669,000 (£60,381,000 in 2010/11) on capital investment in the year compared with an original budget of £44,263,000. The most significant schemes in 2011/12 are listed below: £000’s Adult Social Care Adaptation of homes – disabled facilities / minor works 1,420 Children’s Services Adaptation of homes – disabled facilities / minor works 301 Building Schools for the Future 16,246 St. Silas’ CE Primary School 4,655 Wensley Fold CE Primary School 2,426 Housing Clearance programme 1,802 Group Repair & Facelift schemes 300 The Boulevard Resource Centre 530 Regeneration Local Transport Plan - Structural maintenance of carriageways 1,112 - Bridge strengthening and maintenance 946 - Minor works packages 375 Cathedral Quarter Development 616 Town Centre Improvements 565 Town Centre Public Realm 726 Darwen Townscape Heritage initiatives 473 Blackburn Market 2,327 Redevelopment of existing Market site 1,878 Resources Corporate ICT 2,280 Youth Zone 619 Old Town Hall Stonework 470 6.0 Building Schools for the Future 6.1 The Building Schools for the Future (BSF) project involves the extensive building, remodelling and operation of 9 secondary schools across 8 sites in Blackburn with Darwen together with ICT managed services. The total programme capital investment is estimated at around £150M and includes 3 schools funded under the Private Finance Initiative (PFI). - - 12 - -
FINANCIAL REPORT 2011/2012 6.2 Balfour Beatty Education was appointed as preferred bidder in October 2009, and the Council together with Bolton Metropolitan Borough Council, Balfour Beatty Education and Building Schools for the Future Investments formed the Local Education Partnership (LEP). The LEP will design, build and maintain the schools as well as provide ICT managed services. 6.3 By 2012/13 all 3 PFI schools (Pleckgate, Witton Park and Blackburn Central high schools) will have commenced a 25 year contract for construction and maintenance. Payments remaining to be made under the PFI contract at 31 March 2012 are detailed in Note 39. Pleckgate High School became operational in September 2011 and the assets used under the PFI contract have been recognised in the Council’s 2011/12 Balance Sheet, within Property, Plant and Equipment. These assets are balanced by the recognition of a liability for amounts due to the scheme operator to pay for the capital investment, which appears in the Balance Sheet within Other Long Term Liabilities. Witton Park and Blackburn Central high schools are both due for completion in summer 2012, and are scheduled to become operational in September 2012. 6.4 Also within the BSF programme, but funded directly by the Council rather than under a PFI, are three design and build contracts for Darwen Vale High School, St Bedes RC High School and Tauheedul Islam Girls’ High School. The committed expenditure is estimated at £19M for the 3 schools in total, together with additional lifecycle costs of £5.795M for Darwen Vale High School (a proportion of which may be charged to revenue). The committed capital expenditure relating to ICT for all schools within the programme is £7.792M. 7.0 Pensions Liability 7.1 The Pensions Liability appearing in the Balance Sheet represents the excess of the accrued pension liabilities, assessed on a prescribed basis, compared with the market value of assets at a single point in time (i.e. 31 March 2012). It is an actuarially calculated figure for accounting purposes, and uses different actuarial assumptions from the full valuation of the Fund. 7.2 The liability represents the underlying commitments that the Council has in the long-run to pay retirement benefits. The total liability of £183M has a substantial impact by reducing the net worth of the Council as recorded in the balance sheet. However, statutory arrangements for funding the deficit mean that the financial position of the Council remains healthy, with the deficit being made good by increased contributions over the remaining working life of employees, as assessed by the scheme actuary. E HALL Director of Finance Blackburn with Darwen Borough Council - - 13 - -
Page 1: Statement of Accounts 2011/2012
Page 4 and 5: INDEPENDENT AUDITORS’ REPORT TO T
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Page 10 and 11: FINANCIAL REPORT 2011/2012 1.0 Over
Page 12 and 13: FINANCIAL REPORT 2011/2012 it will
Page 16 and 17: STATEMENT OF RESPONSIBILITIES 1.0 T
Page 18 and 19: COMPREHENSIVE INCOME AND EXPENDITUR
Page 20 and 21: CASH FLOW STATEMENT The Cash Flow S
Page 22 and 23: NOTES TO THE FINANCIAL STATEMENTS M
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Page 30 and 31: Depreciation is calculated on the f
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Page 46 and 47: Reconciliation of the carrying valu
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NOTES TO THE FINANCIAL STATEMENTS 2
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NOTES TO THE FINANCIAL STATEMENTS T
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31 March 2011 NOTES TO THE FINANCIA
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- other departure costs (i.e. pay i
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Assets and liabilities in relation
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NOTES TO THE FINANCIAL STATEMENTS M
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NOTES TO THE FINANCIAL STATEMENTS I
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The provision made against estimate
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COLLECTION FUND INCOME AND EXPENDIT
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ANNUAL GOVERNANCE STATEMENT Forewor
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ANNUAL GOVERNANCE STATEMENT Equalit
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ANNUAL GOVERNANCE STATEMENT Officer
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ANNUAL GOVERNANCE STATEMENT A healt
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GLOSSARY OF TERMS Accounting polici
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GLOSSARY OF TERMS Financial liabili
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GLOSSARY OF TERMS Remuneration - Al
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Statement of Accounts 2011/2012 - Blackburn with Darwen Borough ...

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