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

GLOSSARY OF TERMS
Remuneration - All sums paid to or receivable by an employee and sums due by
way of expenses allowances (as far as those sums are
chargeable to UK income tax) and the money value of any other
benefits received other than in cash. Pension contributions
payable by the employer are excluded.
Reserve - Amounts set aside for purposes falling outside the definition of a
provision are considered as reserves.
Revenue expenditure funded
from capital under statute - Expenditure that legislation allows to be classified as capital for
funding purposes when it does not result in the expenditure
being carried on the Balance Sheet as a fixed asset, e.g. private
sector housing improvement grants.
Revenue Support Grant - A Government grant in aid of local authority services generally.
It is based on the Government’s assessment of how much the
Council needs to spend in order to provide a standard level of
service.
Termination benefits - Amounts payable as a result of either an employer’s decision to
terminate an employee’s employment before the normal
retirement date, or an employee’s decision to accept voluntary
redundancy in exchange for those benefits.
The Code - Code of Practice on Local Authority Accounting in the United
Kingdom 2010/11 (Based on International Financial Reporting
Standards).
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