Introduction
Each year the Council is required to produce a Statement of Accounts. This document sets out a summary of our financial affairs and together with the Annual Plan and many other plans we must produce by law, provides a commentary on our performance. Making sure we are accountable for our work is extremely important and our financial statements help to show how your money has been used. The links below provide access to our Statement of Accounts, the Annual Audit Letter and the accounts of The Somerset Waste Partnership.
Corporate Finance and Financial Planning Statement of Accounts
The Statement of Accounts is available to read by everyone. For more information on these accounts, or to obtain a copy of them (free to Somerset residents) please use links in the Downloads section to download a copy in PDF format.
The annual Statement of Accounts summarises our financial affairs for the year and shows our position at the end of the year (31 March). It includes the following
- The Chief Financial Officer’s introduction – highlights some of the most important matters reported in the accounts and comments on any issues
that have had a major effect on our finances, before looking ahead to the future - Statement of responsibilities – explains our responsibilities for our financial affairs and how we make sure we carry out these responsibilities properly
- Annual Governance Statement – gives the results of our yearly assessment of how well we are managing and controlling risks to achieve our aims and meet the responsibilities we have by law
- Statement of accounting policies – summarises the accounting rules and conventions we have used in preparing our accounts
- Comprehensive Income and Expenditure Statement – a summary of our spending on services and where we got the money from
- Statement of Movement in Reserves – shows whether we have over or under-spent against the Council Tax that we raised for the year, taking into account the use of reserves built up in the past and contributions to reserves earmarked for future expenditure
- Balance Sheet – shows our financial position as a whole at the start and end of the financial year
- Cash-flow Statement – shows the overall movement of cash during the year for revenue and capital
- Notes to the Core Financial Statements – provides more information on the figures contained in the above statements
- The Pension Fund – summarises the accounts of our Local Government Pension Fund. We use this fund to pay former employees their pensions
and other benefits when they retire - Glossary of terms – explains terms that we have used throughout the Statement of Accounts
Somerset Council Statement of Accounts 2024/25
Previous years and former Council's accounts
You can use this directory to view previous years Statements of Accounts.
You can now:
- Search by Council
- Search by financial year