Annual Report and Statement of Accounts 2005

Like any organisation the Council manages its money on an annual cycle. The Council's financial year runs from 1st April to the 31st March. Oldham has recently completed its draft set of accounts for 2005/06 which included 12 months of spending and income up to 31st March 2006. The Accounts include:

• Consolidated Revenue Account that identifies the income and expenditure in the whole of the year;
• Consolidated Balance Sheet that shows a snapshot of the Authority's assets (things we own or is owing to us that has a monetary value) and liabilities (money we owe but have not yet paid) at 31st March;
• Statement of Total Movement in Reserves that summaries what the Councils has to fund risks going forward
• Housing Revenue Account that identifies the spending in the year on Council houses, including money spent with First Choice Homes Oldham; and
• Cashflow Statement that sets out the movement in cash during the year.

This year the statement also includes an introduction by the Leader and the Chief Executive that sets out the overall performance of the Council both in terms of money and non-financial performance. This shows that 2005/06 was an encouraging year with significant change being made and a small surplus being achieved. Looking forward if this financial position is maintained it will allow a sound platform for continual improvement.

You can download the full Statement of Accounts here (PDF 390Kb).

We are also keen to seek your views as to how we can improve the accounts both in terms of presentation and meaning. As a result, we would welcome your feedback on areas for improvements to next years accounts which you can make by completing the Annual Report questionnaire.

You may also be interested in the Audit Commission publication; Council's Accounts - Your Rights.

We thank you for your time and effort in helping us move forwards to excellence.

John Bland, Assistant Chief Executive (Finance, IT and Resources)

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