1. 1 Havering Council Summary Statement of Accounts 2015-2016 Draft accounts – subject to audit

2. 2 Summary Statement of Accounts 2015/2016 Contents The Comprehensive Income and Expenditure Statement The Balance Sheet Capital Expenditure and Financing The Cash Flow Statement The Housing Revenue Account The Collection Fund Contact Us 2 Sets out the financial position of the Council at 31 March 2016 Summarises inflows and outflows of cash arising from transactions with third parties A summary of the capital resources generated and consumed by the Authority Contact details for further information and a link to the full set of accounts Transactions in relation to NNDR and Council Tax, and how these have been distributed A separate statement showing income and expenditure on council housing 34567893456789 A summary of the revenue resources generated and consumed by the Authority Draft accounts – subject to audit

3. 3 Summary Statement of Accounts 2015/2016 Comprehensive Income and Expenditure Statement 3 The Comprehensive Income and Expenditure Statement sets out the cost of running Council services over a financial year, from 1 April to 31 March. It shows where the money came from to finance the costs and any surplus of deficit at the end of the financial year. Gross Expenditure on Revenue Services £516.6m £000 Gross Expenditure Gross IncomeNet Service Income and Expenditure Central Services to the Public9,173(2,548)6,625 Cultural, Environmental, Regulatory and Planning Services41,055(11,588)29,467 Children’s and Education Services179,643(147,755)31,888 Highways, Roads and Transport Services24,183(7,682)16,501 Local Authority Housing (HRA)55,492(58,642)(3,150) Other Housing Services111,754(108,999)2,755 Adult Social Care Services78,646(16,936)61,710 Public Health12,057(10,402)1,655 Corporate and Democratic Core4,567(399)4,168 Non Distributed Costs-(415) Cost Of Services516,570(365,366)151,204 Other Operating Expenditure -- (3,575) Financing and Investment Income and Expenditure--12,160 Taxation and Non-Specific Grant Income--(211,770) Surplus on Provision of Services--(51,981) Draft accounts – subject to audit

4. 4 The Balance Sheet 4 The Balance Sheet shows the overall financial position of the Council as at 31 March. It brings together the year end balances of all the Council’s accounts, and presents money owed by and to the Council, assets owned and the balances and reserves at the Council’s disposal. Summary Statement of Accounts 2015/2016 Assets Less Liabilities: 31 March 2016 £000 Fixed and Long Term Assets (e.g. land, buildings) 919,793 Investments200,995 Stock 308 Cash and Bank53,511 Assets Held for Sale3,833 Money owed to the Council41,450 Net Liability related to pension scheme (388,109) Money owed by the Council(287,893) 543,888 Financed By: 31 March 2016 £000 Pension Reserve388,109 Housing Revenue Account Balance(7,155) Collection Fund Balance(2,188) Capital balances and reserves(847,617) Revenue balances and reserves(75,037) (543,888) Draft accounts – subject to audit

5. 5 Summary Statement of Accounts 2015/2016 Capital Expenditure & Financing 5 Capital spend for the year ended 31 March 2016 Capital Expenditure is generally the money spent by the Council on purchasing, upgrading and improving assets such as buildings, roads and council housing. The Council receives the benefit from capital spending over a long period of time. Capital Expenditure £59.5m Financing of Capital Expenditure – £59.5m Draft accounts – subject to audit

6. The Cash Flow Statement 6 Opening Cash Balance Closing Cash Balance INFLOW OUTFLOW £30.441m £53.511m £41.802m £18.732m This summarises the Council’s cash payments and receipts for the financial year. Summary Statement of Accounts 2015/2016 Draft accounts – subject to audit

7. 7 Housing Revenue Account 7 ring-fenced account showing income and expenditure associated with the provision, The Housing Revenue Account is a separately maintained management and maintenance of Council Housing. Summary Statement of Accounts 2015/2016 INCOME £000 Council house rents (49,672) Housing subsidy & rents receivable (399) Service charges & other income (8,571) Total income(58,642) EXPENDITURE Repairs and maintenance 7,744 Supervision and management 19,950 Capital financing costs 26,750 Housing subsidy and other costs 1,048 Total expenditure55,492 NET COST OF SERVICES(3,150) Transfers to/from reserves and internal accounting 1,417 Adjustments between accounting and funding basis 3,248 Decrease in HRA balance in year1,515 Draft accounts – subject to audit

8. 8 Summary Statement of Accounts 2015/2016 The Collection Fund 8 The Collection Fund shows the income received from council taxpayers, council tax benefit and business ratepayers and how it is distributed between the Council and others. Collection Fund for the year ended 31 March 2016 Collection Fund Expenditure £190.3m Collection Fund Income £197.2m Draft accounts – subject to audit

9. 9 10 Summary Statement of Accounts 2015/2016 Further detailed information is given in the full version of the Council’s 2014/2015 audited accounts available on our website: https://www.havering.gov.ukhttps://www.havering.gov.uk If you have any questions or comments on the Council’s accounts please contact: Mike Board Corporate Finance & Strategy Manager London Borough of Havering Central Library, St Edward’s Way Romford RM1 3AR Or e-mail corporatefinance@havering.gov.ukcorporatefinance@havering.gov.uk Contact Us 9