Explanation of Variances
2022-23
Please scroll down for the accessible version.
Explanation of variances 2022/23 – pro forma
Name of smaller authority:
Insert figures from Section 2 of the AGAR in all blue highlighted boxes.
Please ensure variance explanations are quantified to reduce the variance excluding stated items below the 15% / £500 / £100,000 threshold.
| Item | 2023 £ | 2022 £ | Variance £ | Variance % | Is > 15%? | Is > £100,000? | Explanation (must include narrative and supporting figures) |
|---|---|---|---|---|---|---|---|
| 1 Balances Brought Forward | 22,498 | 17,568 | Explanation of % variance from PY opening balance not required – Balance brought forward does not agree. | ||||
| 2 Precept or Rates and Levies | 19,500 | 17,230 | -2,270 | 11.64% | NO | NO | |
| 3 Total Other Receipts | 43,014 | 9,652 | -33,362 | 77.56% | YES | NO | Variances between 2021/22 & 2022/23. Interest £69; VAT (£3,394); Misc receipts £1,224; Projects: beach clean donation £2,000; Woodland Project funding £32,443; Bootle in Bloom donations £870; Office space rental £150. Total £33,362 |
| 4 Staff Costs | 2,483 | 2,214 | -269 | 10.83% | NO | NO | |
| 5 Loan Interest / Capital Repayment | 0 | 0 | 0 | 0.00% | NO | NO | |
| 6 All Other Payments | 57,038 | 19,738 | -37,300 | 65.39% | YES | NO | Variances between 2021/22 & 2022/23. Clerks/council expenses £416 (land surveys and maps); Insurance £5; CALC Subscription £10; SLCC membership (£1); Donations/fees £1,431 (Jubilee celebrations); Grass & Gardens £702; Toilets – Cleaning (£264), Consumables £75, Utilities £24, Repairs (£112); General maint & Defib £4,034 (renewing fencing, defib & repairs to phone box); Projects £34,413 (Beach Clean costs and creating a Woodland Project); Misc Purchases (£1,179); Hall Rental (£30); Footlight Maint £42; Bootle in Bloom (£2,265). Total £37,301 |
| 7 Balances Carried Forward | 25,491 | 22,498 | -2,993 | 11.74% | NO | NO | |
| 8 Total Cash and Short Term Investments | 0 | 0 | 0 | 0.00% | NO | NO | |
| 9 Total Fixed Assets plus Other Long Term Investments and Assets | 52,888 | 50,588 | -2,300 | 4.35% | NO | NO | |
| 10 Total Borrowings | 0 | 0.00% | NO | NO | |||
| Excessive Reserves Ratio | 1.30723 | 1.30575 |
Explanation for ‘high’ reserves
Please complete or update the highlighted boxes when the total in Box 7 is greater than 2 times the value of Box 2.
Box 7 is more than twice the value of Box 2 because the authority held the following breakdown of reserves at year end:
| Description of reserve | £ | £ |
|---|---|---|
| Earmarked reserves: | ||
| Reserve 1 | 0 | |
| Reserve 2 | 0 | |
| Reserve 3 | 0 | |
| Reserve 4 | 0 | |
| Reserve 5 | 0 | |
| General reserve | 0 | |
| Total reserves (must agree to Box 7) | 0 | |
| Box 7 per Annual Return | 22,498 | |
| Difference | -22,498 | PLEASE PROVIDE AN EXPLANATION FOR THIS DIFFERENCE |
Column B: Reserves should be renamed to show the specific purpose / name given by this authority.
Column D – General reserves: This should relate to normal operating funds and should equal the difference between total earmarked reserves and the value of Box 7 on Section 2 of the AGAR.
Column D – Earmarked items: A value for the amount earmarked for each specific reserve should be entered. There may be fewer than 5 reserves or more and the number can be reduced or extended as appropriate.