Total expenditure on capital and revenue services in 2002 amounted to €90.4m (2001 €87.0m). Of this €42.8m. (2001 €38.1m) was spent on revenue services and €47.6m (2001 €48.9m) was spent on capital services. Both figures indicate a very high level of activity during the year and the €47.6m spent on capital services is an indication of the Council’s ongoing commitment to position Sligo and the North West region to have a good quality of physical, social and recreational infrastructure and a satisfactory range of ancillary services.
The council’s policy is to process payments in accordance with the provisions of the Act.
Much work continues to be done on the development of the financial managements systems in the local authorities.
As part of Better Local Government a major program was put in place to ensure maximum efficiency and effectiveness in local authorities. In relation to the finance function this involved enabling it to provide a more professional role in the management of its finances.
The Department of the Environment and Local Government introduced a new financial management system (FMS). This involved the introduction of a full double - entry system of accounts operated on the accruals principle which replaced the traditional approach of preparing accounts on a receipt and expenditure basis. The old system was an outdated, single entry, cash based system which contained a number of drawbacks. It is also proposed to introduce a new costing system to adequately generate information on the true cost of providing a service.
These systems will provide the financial information necessary for enhanced planning and decision making. They will also offer the opportunities for enhanced efficiencies and value for money through the automation of predominately manual processes and increased systems integration. Phase 1 of the FMS (Agresso) rolled out in April 2001 and concentrated on the purchase to pay cycle and stock incorporating creditors and accruals. Phase 2 of this new financial management system - Accounting for Income and the take on of Debtor balances is being implemented during April - June 2003.
The structure of the Annual Financial Statement (AFS) has been changed to bring it into line with modern reporting formats and structures. The notes to the accounts will support the two main schedules that now form the financial accounts (the Revenue Account Statement and Statement of Balances). All of the remaining schedules that form part of the existing format of the AFS will now be included as appendices.
These changes both to the format and content of the AFS for 2002 are as follows:
A limited form of asset accounting relating to purchased assets was introduced in 2001 following the implementation of the new system Agresso. This is now being extended. The current target from the Department is to have the AFS for 2003 prepared on an accrual basis, incorporating a balance sheet that will include all assets both historical and current. The Capital Account will be de-aggregated and shown under various assets, liabilities and reserves in the balance sheet.
| Revenue Account | Capital Account | Totals | ||||
|---|---|---|---|---|---|---|
| 2002 € | 2001 € | 2002 € | 2001 € | 2002 € | 2001 € | |
| Expenditure | 42,798 | 38.067 | 47,648 | 48,862 | 90,446 | 86,929 |
| Receipts | 42,776 | 35.669 | 44,577 | 47,689 | 87,303 | 83,388 |
| Surplus(Deficit) | -72 | -2,368 | -3,071 | -1,173 | -3,143 | 3,541 |
| Opening Balance | -1,987 | 381 | -1,067 | 106 | -3,054 | 487 |
| Closing Balance | -2,059 | -1,987 | -4,138 | -1,067 | -6,197 | -3,054 |
| Revenue Account-Adopted Estimates | Programme Groups € | Expenditure % | Adopted Estimates € |
|---|---|---|---|
| Housing and Building | 3,541 | 8 | 4,067 |
| Road Transportation & Safety | 16,774 | 39 | 15,187 |
| Water & Sewerage | 3,785 | 9 | 3,420 |
| Developmental Incentives & Control | 2,458 | 6 | 1,954 |
| Environmental Protection | 6,441 | 15 | 5,897 |
| Recreation & Amenity | 2,480 | 6 | 2,457 |
| Agriculture, Education,Health & Welfare | 2,927 | 7 | 2,603 |
| Miscellaneous | 4,392 | 10 | 39,298 |
| Total | 42,798 | 100 | 39,298 |
| Sources of Funds-Revenue Account | 2002 € | 2002 % | 2001 € | 2001 % |
|---|---|---|---|---|
| Local Government Fund | 11,204 | 26 | 8,151 | 23 |
| Other State Grants | 17,047 | 40 | 14,920 | 42 |
| Goods/Services | 10,528 | 25 | 8,539 | 24 |
| Rates | 2,468 | 6 | 2,266 | 6 |
| Urban Change | 1,479 | 3 | 1,823 | 5 |
| Total | 42,726 | 100 | 35,699 | 100 |
| Sources of Funds-Capital Account | 2002 € | 2002 % | 2001 € | 2001 % |
|---|---|---|---|---|
| Local Government Fund | ||||
| Other State Grants | 26,446 | 59 | 33,250 | 70 |
| Goods/Services | ||||
| Rates | ||||
| Urban Change | ||||
| Borrowing | 11,046 | 25 | 10,640 | 22 |
| Transfer from Revenue | 663 | 2 | 429 | 1 |
| Redemp. Housing Loans | 1,940 | 4 | 983 | 2 |
| Other Receipts | 4,482 | 10 | 2,387 | 5 |
| Total | 44,577 | 100 | 47,689 | 100 |
| Sources of Funds-Total | 2002 € | 2002 % | 2001 € | 2001 % |
|---|---|---|---|---|
| Local Government Fund | 11,204 | 13 | 8,151 | 10 |
| Other State Grants | 43,493 | 50 | 48,170 | 58 |
| Goods/Services | 10,528 | 12 | 8,539 | 10 |
| Rates | 2,468 | 3 | 2,266 | 3 |
| Urban Change | 1,479 | 2 | 1,823 | 2 |
| Borrowing | 11,046 | 13 | 10,640 | 13 |
| Transfer from Revenue | 663 | 0 | 429 | 0 |
| Redemp. Housing Loans | 1,940 | 2 | 983 | 1 |
| Other Receipts | 4,482 | 5 | 2,387 | 3 |
| Total | 87,303 | 100 | 83,388 | 100 |