Summary of accounts 2007/08

Hull City Council's financial information for 2007/08

Income and expenditure account

This account summarises the resources that have been generated or consumed in providing services and managing the council during the last year. The table below summarises what the council spent on services.

Service	Gross Expenditure 2007/08 £'000	Gross Income 2007/08 £'000	Net Expenditure 2007/08 £'000	Net Expenditure 2006/07 £'000
Adult social care	96,327	35,687	60,640	58,744
Children's and education services	290,773	206,583	84,190	69,814
Cultural, environmental and planning services	110,052	42,711	67,341	66,166
Highways, roads and transport services	32,048	13,684	18,364	19,660
Housing General Fund services	127,605	114,289	13,316	17,654
Other	55,717	35,135	20,582	30,782
	712,522	448,089	264,433	262,820
The Housing General Fund covers housing benefit payments, housing advice and private sector renewal.

Housing revenue account

The housing revenue account is the council's landlord account for management and maintenance of its housing stock. It is a stand-alone account funded by housing rents and government subsidy.

	2007- 08 £'000		The council owned the following types and numbers of dwellings at 31 March 2008:
Income			Houses	21,500
Rents	77,554		Flats	6,480
Other income	4,757		Other	12
	82,311		Total	27,992
Expenditure
Repair and maintenance	25,905
Supervision and management	21,257
Capital and financing costs	34,419
Other costs	1,966
	83,547
Deficit for the year	(1,236)

Balance sheet	31 March 2008 £'000
Fixed and other long term assets (includes land and buildings, council dwellings, vehicles, plant and machinery)	1,811,799
Stock	1,226
Cash overdrawn	(11,696)
Money owed to the council	194,715
Money owed by the council	(810,761)
Council net worth	1,185,283
Financed by: Balances and reserves	1,185,283
	1,185,283

Revenue funding External funding received by the council to pay for net expenditure, excluding fees and charges and specific grants, was £200.942m for 2007/08. This was made up as follows:
Collecting the council tax For 2007/08, Hull City Council's share of the council tax was set at £1,023.73 for a Band D Property. This is calculated by dividing the budgeted amount required to fund net expenditure (£70.408m) by the number of Band D equivalent properties (68,776). The collection rate for 2007/08 was 94.4%. Capital expenditure Capital expenditure happens when we buy land and property, build or carry out major refurbishments to our buildings and purchase major items of equipment which will have a long-term value to the council. During 2007/08 the city council spent £153.670m on capital schemes. Major expenditure included: £41.057m on council dwellings £34.836m on other land and buildings £9.143m on infrastructure £6.228m on vehicles, plant, furniture and equipment
Funding of capital expenditure Funding of capital expenditure comes from a variety of sources, as follows:

info

This information is an extract from the council's Summary of Accounts for 2007/08. It does not replace the annual publication of the council's 2007/08 accounts, but rather provides a snapshot of it. The published Summary of Accounts and full Statement of Accounts for 2007/08 are available on the council's website, or for inspection at the Corporate Finance offices, City Treasury, Guildhall Road, Hull.