Revenue Income and Expenditure |
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The Council’s Income and Expenditure Account is equivalent to the Profit and Loss Account included in private sector accounts. It shows the cost of running Council services during the financial year, where the money came from to pay for services and the surplus or deficit at the end of the year. Revenue includes spending - and income - generated from day to day running costs, for example, employees related expenses, transport, premises, supplies and services. For 2007/08 the Income and Expenditure Account details the gross costs of service provision amounting to £56.7 million. A simple explanation of this expenditure is set out in a chart below.
Where the Revenue money came from, 2007/08: A simple explanation of the gross income of £40.3 million shown in the Income and Expenditure Account is set out in the chart below;
Did we keep to our Budget? Not Quite! The net City Council Expenditure for 2007/08 was £16.09 million compared to a budgeted £15.88 million. This therefore led to an effective overspend of £0.2million for 2007/08. This resulted in a transfer from general fund of £0.2 million. Capital Income and ExpenditureCapital spending includes investing in new assets and the refurbishment of old ones like buildings, large equipment and vehicles. Capital expenditure amounted to £4.23m in 2007/08. This compares to the budget of £7.08m. This net under spend is in starting work on a number of projects. A simple table explaining “Where the Capital money is spent, 2007/08” is set along with a graph below.
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