Agenda Item 7

Report to the

Date: 30 June 2009

Report by: Jon Pittam, County Treasurer

tel: 01962 846931 email: tom.niedrum@hants.gov.uk

Subject: Final Accounts 2008/09;
Draft Statement of Accounts 2008/09

Purpose of the Report

The purpose of this report is to inform the Transport for South Hampshire (TfSH) Joint Committee of the final budget outturn for the year 2008/09; to approve the Draft Statement of Accounts for 2008/09.

Recommendations

It is recommended that the Joint Committee:

1. Notes the final outturn for revenue and capital budgets for the 2008/09 financial year and agrees to the carry forward of underspends of £134,000 on revenue budgets and £700,000 on capital budgets to 2009/10.

2. Approves the Annual Governance Statement on pages six to 13 of the Statement of Accounts 2008/09

3. Approves the draft Statement of Accounts for the 2008/09 financial year.

Introduction

1. This report summarises the spending of the TfSH Joint Committee for the last financial year. Overall there was an underspending of £134,000 against revenue resources and £700,000 on capital.

2. The report also includes the draft statement of accounts, which is attached as an appendix, for approval by the Joint Committee.

Funding 2008/09

3. Table 1 below shows TfSH funding for 2008/09.

Table1

Revenue Funding 2008/09

£'000

Core partner contributions

500

Other partner contributions

330

Balance b/f from previous year (Solent Transport)

257

PUSH New Growth Point

279

Interest on balances

15

Total Revenue Funding

1,381

   

Capital Funding 2008/09

 

PUSH New Growth Point

1,700

Total Capital Funding

1,700

   

Total Funding

3,081

Revenue Budget 2008/09

4. Table 2 below shows the final spend for 2008/09 compared to the latest forecast outturn reported at Joint Committee on 29 April 2009.

Table 2

Budget Heading

Latest Forecast Outturn

£'000

Actual

Spend

£'000

Variation

£'000

Bus Rapid Transit

765

767

+2

Fareham Interchange study

30

30

0

Eastleigh Riverside - Multi Modal Study

36

36

0

Eastleigh Riverside - Rail Study

51

50

-1

Outline Design Strategic Development Area studies

66

66

0

Progression of Other Schemes

2

8

+6

Developing the Evidence Base

235

231

--4

Freight Strategy

5

0

-5

Funding Strategy

10

10

0

Support Staff & Audit

45

47

+2

Public Relations and Marketing

2

2

0

Balance to carry forward and additional resources

134

0

-134

Total

1,381

1,247

-134

5. The overall position shows an underspending of £134,000. This compares to the last budget monitoring position which had identified a forecast underspending of £73,000, which the Joint Committee has already agreed to carry forward to 2009/10 for new and existing projects. The main reason for the latest variation of £61,000 is additional resources of £47,000 from previous year accounts being identified, interest on balances of £15,000 and an overspending of £1,000 on scheme budgets.

6. It is recommended that the additional underspending on TfSH revenue accounts of £61,000 is carried forward as a contingency balance for future TfSH revenue projects, on top of the carry forward already agreed.

Capital Budget 2008/09

7. Table 3 below shows the TfSH final outturn position for 2008/09 compared to the latest budget forecast reported to Joint Committee on 29 April 2009.

Table 3

Budget Heading

Lead Authority

Latest Forecast Outturn

£'000

Actual Spend

£'000

Variation

£'000

Bus Rapid Transit

Hampshire County Council

500

500

0

M27 Junction 5 Improvement

Hampshire County Council

100

100

0

Access to Strategic Sites

Hampshire County Council

0

0

0

Tipner - Design and Construction of M275 Slip Road

Portsmouth City Council

400

400

0

Agreed Carry Forward to 2009/10

Hampshire County Council

700

0

-700

Total

 

1,700

1,000

-700

8. Spend on TfSH capital schemes were as expected for 2008/09 with an overall underspend of £700,000 relating to Access to Strategic Sites. This is mainly due to the late notification of the budget and the lead time required to assemble the evidence base to justify access arrangements for strategic sites.

9. It is recommended that this underspending be carried forward to provide additional capital spending in 2009/10 for Developing the Evidence Base.

Statement of Accounts 2008/09

10. The Accounts and Audit Regulations 2003 require the Statement of Accounts for specified bodies, including Joint Committees, to be approved by the 30 June following the year end, by those charged with governance. For TfSH this is the Joint Committee itself.

11. The draft Statement is attached as an appendix, for approval. It is consistent with the figures in this Final Accounts 2008/09 report.

12. The form of the Statement is prescribed by a Code of Practice which constitutes proper accounting practice as required by Section 21 of the Local Government Act 2003, the code is updated each year to take account of the changes in accounting standards.

Section 100 D - Local Government Act 1972 - background papers

 

The following documents disclose facts or matters on which this report, or an important part of it, is based and has been relied upon to a material extent in the preparation of this report.

 

NB the list excludes:

 

1.

Published works.

 

2.

Documents which disclose exempt or confidential information as defined in the Act.

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LOCATION

None

 

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