Attachment 1.2

Explanation of significant variances in the accounting statements - Section 2

Parish Council name:                             ILAM PARISH COUNCIL

Please explain any variances of more than 15% between the totals for individual boxes in Section 2. We do not require explanations for variances of less than £200; however, in some cases there may be ‘compensating’ variances which leave the overall total for a box relatively unchanged – e.g. where there was a major one-off project in one year (e.g. contribution to village hall extension of £30,000), but a totally different expense of a similar size in the next (e.g. purchase of playground equipment of £28,000). In such cases, it would be helpful to provide an explanation of movements within each box.  We also ask you to explain any change where there is a movement to or from zero. Please either use the proforma below, or complete a separate schedule if more space is required.

Section 2	2018/19 £	2019/20£	Variance (+/-) £	Detailed explanation of variance (for each reason noted please include monetary values (to nearest £10)
Box 2 Precept	800	800	0
Box 3 Other income	311	217	-94	Sale of scaffolding prev yr £50, this yr zero VAT refund this yr £17, prev yr £58
Box 4 Staff costs	0	0	0
Box 5 Loan interest/ capital	0	0	0
Box 6 Other payments	884	1268	+384	Lengthman’s payment prev yr zero, this yr £200 Topsoil, planters, chippings prev yr zero, this yr £480 Road signs prev yr zero, this yr £70 Defibrillator battery prev yr £230, this yr zero Bunding prev yr £120, this yr zero
Box 7 Balances carried forward	954	703	-251	Council wished to keep precept at same level and decided £700 was sufficient reserve to carry forward
Box 9 Fixed assets & long term assets	855	1015	+160	Following purchased: 2 x Planters £100 Road sign £34 Defibrillator sign £26
Box 10 Total borrowing	0	0	0