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

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NOTES TO THE FINANCIAL STATEMENTS 11 Taxation and non specific grant income 2010/11 2011/2012 £000 £000 ( 50,071 ) Council tax income ( 49,619 ) ( 71,282 ) Non domestic rates ( 63,059 ) ( 34,981 ) Non ringfenced government grants ( 44,081 ) ( 24,547 ) Capital grants and contributions ( 23,188 ) ( 180,881 ) Total ( 179,947 ) 12 Property, Plant and Equipment Depreciation The following useful lives and depreciation rates have been used in the calculation of depreciation: Land and buildings Vehicles, plant, furniture and equipment Infrastructure 1 – 50 years 1 – 20 years 2 – 40 years Impairment During 2011/12, impairment reversals (in relation to prior years’ impairment losses) of £364,000 have been credited to the Adult Social Care line of the Comprehensive Income and Expenditure Statement. Revaluation losses For 2011/12, revaluation decreases recognised in the Surplus/Deficit on the Provision of Services include two significant revaluation losses, as follows: £’000 Infirmary area – formerly valued at cost of acquisition as part of the Housing Market Renewal programme. Revaluation loss reflects market value of cleared site, which is significantly lower. 6,129 Darwen Vale High School - valuation reflects closure of school, as site is currently being redeveloped as part of the BSF programme. 4,630 Capital Commitments At 31 March 2012, the Council has entered into a number of contracts for the construction or enhancement of Property, Plant and Equipment in 2012/13 and future years. The majority of contractual commitments in place at 31 March 2012 are in relation to the Building Schools for the Future (BSF) programme, which includes 3 schools funded under the Private Finance Initiative (PFI). By 2012/13 all 3 schools will have commenced a 25 year contract for the construction and maintenance of those schools. The Council will make an agreed annual payment over the life of the contract, which is increased by inflation each year. Capital payments remaining to be made under the PFI contract at 31 March 2012 are £27,087,000 for Pleckgate High School, which became operational in September 2011, and £48,164,000 for Witton Park and Blackburn Central high schools, which are scheduled to become operational in September 2012 (see Note 39 for further details). Also within the BSF programme, but funded directly by the Council rather that 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 £19,000,000 for the 3 schools in total, together with additional lifecycle costs of £5,795,000 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 £7,792,000. The only other contractual commitment is in relation to the completion of works at St Silas’s school, amounting to £809,000 (total contractual commitments at 31 March 2011 were £11.06M). In addition, the Council has commitments to compensation payments estimated at £2,189,000, in relation to the clearance of sites within the area development framework. Most of these will be paid over the next year as claims are received, and have been provided for in the 2012/13 capital programme. - - 40 - -
12 Property, Plant and Equipment - movements in 2011/12 Cost or Valuation Land & buildings Vehicles, plant, furniture & equipment NOTES TO THE FINANCIAL STATEMENTS Infrastructure Assets Community Assets Assets under construction Total Property, Plant & Equipment PFI Assets included in Property, Plant & Equipment £000 £000 £000 £000 £000 £000 £000 At 1 April 2011 302,084 25,338 87,673 7,453 37,273 459,821 0 Additions 28,966 4,123 4,340 26 21,478 58,933 27,211 Revaluation increases / (decreases) recognised in the Revaluation Reserve 544 0 0 0 0 544 0 Revaluation increases / (decreases) recognised in the Surplus/Deficit on the Provision of Services Derecognition - Disposals ( 31,136 ) 0 0 0 0 ( 31,136 ) (1,211 ) ( 2,035 ) 0 0 0 0 ( 2,035 ) 0 Derecognition - Other ( 249 ) 0 0 0 0 ( 249 ) 0 Assets reclassified ( 84 ) 8,365 0 0 ( 10,075 ) ( 1,794 ) 0 Other movements in cost or valuation ( 95 ) 0 0 0 0 ( 95 ) 0 At 31 March 2012 297,995 37,826 92,013 7,479 48,676 483,989 26,000 Accumulated Depreciation and Impairment At 1 April 2011 ( 21,043 ) ( 22,383 ) ( 13,380 ) 0 0 ( 56,806 ) 0 Depreciation charge ( 7,156 ) ( 938 ) ( 2,307 ) 0 0 ( 10,401 ) ( 298 ) Depreciation written out to the Revaluation Reserve Depreciation written out to the Surplus/Deficit on the Provision of Services Impairment losses/ (reversals) recognised in the Revaluation Reserve Impairment losses/ (reversals) recognised in the Surplus/Deficit on the Provision of Services Derecognition - Disposals 13,463 0 0 0 0 13,463 0 0 0 0 0 0 0 0 ( 117 ) 0 0 0 0 ( 117 ) 0 ( 364 ) 0 0 0 0 ( 364 ) 0 270 0 0 0 0 270 0 Derecognition - Other 77 0 0 0 0 77 0 Other movements in depreciation or impairment 95 0 0 0 0 95 0 At 31 March 2012 ( 14,775 ) ( 23,321 ) ( 15,687 ) 0 0 ( 53,783 ) ( 298 ) Net Book Value At 31 March 2012 283,220 14,505 76,326 7,479 48,676 430,206 25,702 At 31 March 2011 281,041 2,955 74,293 7,453 37,273 403,015 0 - - 41 - -
Page 1: Statement of Accounts 2011/2012
Page 4 and 5: INDEPENDENT AUDITORS’ REPORT TO T
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Page 8 and 9: - - 6 - -
Page 10 and 11: FINANCIAL REPORT 2011/2012 1.0 Over
Page 12 and 13: FINANCIAL REPORT 2011/2012 it will
Page 14 and 15: FINANCIAL REPORT 2011/2012 Schools
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
Page 24 and 25: NOTES TO THE FINANCIAL STATEMENTS F
Page 26 and 27: NOTES TO THE FINANCIAL STATEMENTS t
Page 28 and 29: NOTES TO THE FINANCIAL STATEMENTS T
Page 30 and 31: Depreciation is calculated on the f
Page 32 and 33: NOTES TO THE FINANCIAL STATEMENTS C
Page 34 and 35: NOTES TO THE FINANCIAL STATEMENTS
Page 36 and 37: NOTES TO THE FINANCIAL STATEMENTS P
Page 38 and 39: NOTES TO THE FINANCIAL STATEMENTS A
Page 40 and 41: NOTES TO THE FINANCIAL STATEMENTS 7
Page 44 and 45: 12 Property, Plant and Equipment -
Page 46 and 47: Reconciliation of the carrying valu
Page 52 and 53: NOTES TO THE FINANCIAL STATEMENTS C
Page 58 and 59: NOTES TO THE FINANCIAL STATEMENTS R
Page 68 and 69: 31 March 2011 NOTES TO THE FINANCIA
Page 70 and 71: - other departure costs (i.e. pay i
Page 72 and 73: Assets and liabilities in relation
Page 74 and 75: NOTES TO THE FINANCIAL STATEMENTS M
Page 76 and 77: NOTES TO THE FINANCIAL STATEMENTS I
Page 78 and 79: The provision made against estimate
Page 80 and 81: COLLECTION FUND INCOME AND EXPENDIT
Page 82 and 83: ANNUAL GOVERNANCE STATEMENT Forewor
Page 84 and 85: ANNUAL GOVERNANCE STATEMENT Equalit
Page 86 and 87: ANNUAL GOVERNANCE STATEMENT Officer
Page 88 and 89: ANNUAL GOVERNANCE STATEMENT A healt
Page 90 and 91: GLOSSARY OF TERMS Accounting polici
Page 92 and 93:
GLOSSARY OF TERMS Financial liabili
Page 94:
GLOSSARY OF TERMS Remuneration - Al
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