Archived decisions

24

Movement on Reserves

Balance

Net

Balance

1 April

Movement

31 March

Reserve

2006

in the year

2007

See note

£'000

£'000

£'000

Fixed Asset Restatement Account

-2,090,757

-74,447

-2,165,204

24a

Capital Financing Account

-283,550

-1,045

-284,595

24b

Pensions Reserve

588,820

20,220

609,040

6h

Earmarked Reserves

-92,946

-16,661

-109,607

24c

Other balances

174

-174

0

24d

General Fund

-4,167

-12,575

-16,742

-1,882,426

-84,682

-1,967,108

24a

Fixed asset restatement account

This represents a store of net gains on revaluation of fixed assets, written down by net

book value of asset disposals. The reserve is not cash backed as it relates to unrealised

assets. The movement in the account is analysed below:

2005/06

2006/07

£'000

£'000

Balance brought forward 1 April

-1,633,394

-2,090,757

Net gain on valuation of fixed assets

-521,165

-81,002

Transfer of Magistrates Courts' assets

53,082

Release of grants on assets transferred to Magistrates'

-17,673

Book value of assets sold

10,720

24,228

Balance at 31 March

-2,090,757

-2,165,204

24b

Capital financing account

The capital financing account contains expenditure financed from revenue and capital

receipts together with the statutory amount required to provide for the repayment of

external loans less the amounts included for depreciation and writing down deferred

charges. The reserve is not cash backed.

The movement in the account is analysed below:

2005/06

2006/07

£'000

£'000

Balance brought forward 1 April

-272,420

-283,550

Revenue contributions

-35,552

-21,697

Capital receipts applied

-10,720

-24,227

Minimum revenue provision

-20,988

-22,083

Depreciation

54,953

69,609

Deferred charges

19,686

9,324

Deferred government grants and contributions

-20,544

-13,936

released

External contribution to minimum revenue provision

2,035

1,965

Balance as at 31 March

-283,550

-284,595

51

24c

Earmarked reserves

Specific amounts are set aside as reserves for future policy purposes or to cover

contingencies. Schools reserves are made up of net underspendings on budgets

managed by governors as adjusted for advances made under the school balances

loan scheme. They are not available to other services.

The opening and closing balances for each reserve is shown below:

31 March

Net

31 March

2006

movement

2007

in the year

£'000

£'000

£'000

Schools

-33,388

-4,651

-38,039

Capital

0

-1,432

-1,432

Landfill allowances

-3,538

703

-2,835

Local Public Service Agreement

Reward Grant

-2,712

-3,353

-6,065

Insurance

-7,300

1,285

-6,015

Designated underspendings

-3,565

-2,823

-6,388

Grant equalisation

-23,750

-1,200

-24,950

Modernisation, restructuring and

efficiency

-3,505

3,505

0

Job evaluation implementation

-10,400

-8,090

-18,490

Trading accounts

-4,286

-568

-4,854

Invest-to-save

-253

-8

-261

Other

-249

-29

-278

-92,946

-16,661

-109,607

24d

Other balances

Largely internal recharges between the main County Council accounts and schools

with local bank accounts.

52