Introduction by Councillor Wayne Campbell, Deputy Leader and Executive Member for Resource
I am pleased to welcome you to the Council's Statement of Accounts for 2001/02.
This year has seen the introduction of the Government's Comprehensive Performance Assessment (CPA) throughout local government whereby each local authority's performance is assessed by the Audit Commission based on performance information that is produced from a variety of sources. The Accounts play a vital part in this respect as they provide information on the Council's financial performance to a wide range of interested parties. They show how we've spent our money, how we've performed against our budget and how we've invested in our assets.
Bury Council is a low spending, low taxing and low borrowing authority. On average we spend 15% per person less than the other nine Greater Manchester Councils, our Council tax is 8% less than that of these other Councils and we owe 30% less per person as well. Whilst much of this is due to the prudent approach taken by the Council it is also true to say that over the past 10 years Bury has been hit particularly hard by central Government controls on our finances. We therefore remain committed to fighting for a better deal for Bury when it comes to the way that Government funding is shared out between Councils. In July 2002 the Government issued a consultation document on possible changes to the formulae used to distribute Revenue Support Grant to local authorities, and Bury Council will make sure that our voice is heard on behalf of those people who live and work within Bury.
The Council takes its financial responsibilities very seriously. Introducing a new democratic structure within the Council is aimed at, amongst other things, strengthening control over the Council's finances, with a key role being played by the new Scrutiny and Review Panels in examining the Council's spending.
The Accounts demonstrate that we have continued to exercise tight control over our finances. We have kept our spending to within budget and the difference between what we spent and what we planned to spend is less than 1% of our total budget. Given that we have a turnover of more than £300million this is a very commendable performance. We have also invested more than £20million on improving the assets that are so vital to the quality of the services that we aim to provide.
However we will not be resting on our laurels. There are ever increasing demands on the Council's services and this will clearly put our budget under pressure in the years to come. We are improving the way that we set and monitor our budget and a more detailed three-year policy led budget is being developed that links more directly to the Council's aims and objectives and its service plans. We are also bringing together the regular reporting of budget and service performance so that we can make clearer the links between spending and outcomes.
The Council is committed to obtaining "Best Value" from all of its services and this year the preparation and presentation of the Accounts continues to be influenced by the Best Value Accounting Code of Practice (BVACOP) which sets out to modernise the system of local authority accounting to ensure that it meets the changed and changing needs of modern local government.
Finally I would like to take this opportunity to thank all of the Council's Members and officers who have played a part in the production of these Accounts and who have contributed to the sound financial performance that they demonstrate. In 2001/02 the budget for the year was overseen by my colleague, Councillor Derek Boden, the Executive Member for Resource at the time, and I am extremely grateful for the work that he put into the process. I would also like to say thank you to everyone who takes the time to read the Accounts; I hope you find them helpful and informative.
Councillor Wayne Campbell
Deputy Leader of the Council and Executive Member for Resource
