Summary Accounts 2006/2007
This is a summary of Warwickshire County Councils Statement of Accounts for 2006/2007. The council’s financial year runs from the 1 April to 31 March.
A full copy of the accounts is available by clicking here. Statement of Accounts and Statement on Internal Control 2006-2007
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The accounts for 2006/2007 were approved at the meeting of the County Council on 26 June 2007. The accounts were audited by our external auditors, The Audit Commission, who issued an unqualified opinion on them on 27 September 2007.
The following is a summary of the key elements.
Revenue spending in 2006/2007
After considering the many spending pressures we faced, we increased the Council Tax by 4.93%, and we have continued to encourage managers to save money whenever they can without damaging services. We originally planned to spend £267.3 million, after using some of our past savings and allowing for expected income. Schools’ budgets were again given a high priority, as was spending on other important functions such as social services.
By the end of the year, our final spending to be met from government grants and local taxpayers was £264.2 million (£266.1.million less £1.9 million general grant).
This was £3.1 million (1.16%) less than we had originally planned.
Salaries, wages and other spending on employees made up the largest share of our spending and we spent most of our money on the education service. Our
money in 2006/2007 came mainly from Council Tax, the Government Revenue Support Grant and our share of business rates. Total revenue spending before
income was taken off was £715.7 million.
Further details of our income and expenditure are shown in the Income and Expenditure Account 2006-2007 and the Balance Sheet 2006-2007
Capital spending in 2006/2007 - £90.4 million
Alongside our day-to-day costs, we spend money on assets such as buildings, new roads and major maintenance work. During 2006/2007, our capital
spending came to £90.4 million. Nearly half (47%) went on building work and fees, 30% went on roadworks and bridges, and the rest went on buying
land, vehicles and major equipment, regeneration and improvements to the environment, grants and other costs.
Our spending of £90.4 million was £13.0 million less than our estimate of £103.4 million. This underspend was due to delays on individual projects.
We now plan to spend this £13.0 million in 2007/2008. There are many reasons why these delays happened. Most were out of our control, such as
delays in receiving planning permission, finalising some land purchases and receiving contributions from other organisations.
We spent £41.0 million (46%) on projects relating to children, young people and families, £33.5 million (37%) on projects relating to environment and
economy and the balance of £15.9 million (17%) on other services. The Capital Summary 2006-2007 has a full list of all the capital payments made.
