Summary Accounts 2004/2005
This is a summary of the Warwickshire County Council Statement of Accounts for 2004/2005. The councils financial year runs from the 1 April to the 31 March.
A full copy of the accounts is available by clicking here. Accounts 2004/2005
This is the first time we have produced summary accounts. If you have any comments on the format or the content of the summary then please contact us.
If you find this document difficult to understand we can provide it in another format. Please contact Navdip Sodhi on 01926 418174.
The accounts for 2004/2005 were approved at the meeting of the County Council on 21 July 2005. The accounts were audited by PricewaterhouseCoopers who issued an unqualified opinion on them on 26 October 2005.
The following is a summary of the key elements of these accounts.
Revenue spending in 2004/2005
After considering the many spending pressures we faced, we increased the Council Tax by 6.6%, and we have continued to encourage managers to save money whenever they can without damaging services. We originally planned to spend £465.1 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 £461.1 million. This was £4.0 million (0.86%) 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 2004/2005 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 £649.7 million.
Further details of our income and expenditure are shown in the Consolidated Revenue Account 2004/2005 and the Consolidated Balance Sheet 2004/2005
Capital spending in 2004/2005 - £75.9 million
Alongside our day-to-day costs, we spend money on assets such as buildings, new roads and major maintenance work. During 2004/2005, our capital spending came to £75.9 million. More than half went on building work and fees, 32% 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 £75.9 million was £6.5 million less than our estimate of £82.4 million. This underspend was due to delays on individual projects. We now plan to spend this in 2005/2006. 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 £32.2 million (42%) on education projects, £36.6 million (48%) on projects relating to planning, transport or economic strategy (PTES) and the balance of £7.1 million (10%) on other services.
