ACCOUNTS & AUDIT
The budget reports prepared annually reflect Government and Local Council funding for the local area.
For the financial years ended 31 March 2011 onwards, the Council has been defined as a “smaller relevant body” following the introduction of the Accounts and Audit Regulations 2011. This means that, amongst other things, the Council’s published accounts no longer have to follow the proper practices found in the FRSSE issued by the Accounting Standards Board. Although appropriate accounting practices still have to be followed in preparing the accounts, the published accounts are simply an Annual Return. Following the introduction of the Accounts and Audit Regulations 2011, the District Audit Service no longer audits the Council’s accounts, and an Annual Audit Letter is no longer received. Instead we receive an Issues Arising Report from our new auditors and BDO.
Once again the Council has had to consider its budget in an ongoing difficult economic climate.
This year the Council has had to consider its budget not only in the light of ongoing econonic difficulties, but also the introduction by the Government of a new Local Council Tax Benefit scheme which has resulted in a significant loss of income from Council Tax.
Nevertheless, a budget has been set which requires no increase in Council Tax, resulting in the same charges being in place for the fourth year in a row. In addition, no increase in fees and charges has been implemented, with the exception of Burials fees.
Once again the Council has had to consider its budget in an ongoing difficult economic climate. In the circumstances the Council has again agreed to impose no increase in Council Tax levels this year, resulting in the same charges being in place for the third year in a row.
Although fees and charges have been revised, the increases imposed in some areas are considered reasonable.
The Council set the budget for the year 2011/2012 in an economic climate which continues to be difficult. In the circumstances the Council agreed a budget which resulted in no increase in Council tax for the year.
In addition, fees and charges have been frozen, and the increase in VAT from 17.5% to 20% has been absorbed by the Council. Details of the full budget can be found on the link below.
The Council agreed a Precept on Durham County Council of £1,208,240 for the year 2010/2011. This represented an increase of £38,059 on the previous year and resulted in a Council Tax increase of 2%.
For the year ended 31 March 2010, the SoRP issued by CIPFA no longer applied, and the accounts were prepared in accordance with proper practices found in the Financial Reporting Standard for Smaller Entities (FRSSE) issued by the Accounting Standards Board.