Accounting Manual

Department of Environment, Heritage and Local Government
ACCOUNTING MANUAL
LOCAL AUTHORITY ACCOUNTING MANUAL
Department of Environment, Heritage and Local Government ____________________________________________________ Accounting Manual
LOCAL AUTHORITY ACCOUNTING MANUAL
Foreword
In tandem with the recent move to accrual accounting policies and the introduction of a new financial management system in local authorities, the Department of the Environment, Heritage and Local Government has issued an Accounting Code of Practice (ACoP) to underpin the broad accounting principles to be followed under the new system. A fundamental objective of ACoP is to ensure that there is a common approach to the presentation of financial data in the Annual Financial Statement. The Accounting Manual supplements (ACoP) and sets out in detail the accounting procedures to be applied to individual processes. The objective is to have a common accounting approach across all local authorities. The format and content of the Manual has been agreed with the General Accounting Working Group (Group representative of the Department and local authorities). The working group will consider any suggestions from local authorities regarding the inclusion of other accounting procedures or revision of existing procedures. It would also like to acknowledge the substantial contribution of David Campbell of CCAS in the preparation of this document.
Finance Local May 2006
Acc Manual V1.9 - Page 2
TABLE OF CONTENTS
A. INTRODUCTION ............................................................................................. 5 B. ACCOUNTING STRUCTURE ......................................................................... 6
B.1 Overview of Accounting Structure......................................................................6 B.1.1 Account Elements........................................................................................................... 6 B.1.2 Account Groups.............................................................................................................. 6 B.1.3 Account Analysis............................................................................................................. 7 B.1.4 Transaction Types within the Agresso F.M.S......................................................... 7 B.2 Use of Jobs.........................................................................................................8 B.2.1 Jobs and the Caprev Flag........................................................................................... 8 B.2.2 Balance Sheet and Capital and Refundable Deposits................................................ 8 B.2.3 Year End Rollup Accounts............................................................................................ 8
C. ACCOUNTING TREATMENTS .....................................................................10

C.1 Transfers to/from Reserves.............................................................................. 10 C.1.1 Revenue and Capital Transfers ................................................................................... 10 C.1.2 Balance Sheet Reserves Transfers............................................................................... 10 C.1.3 Inter Capital Transfers.................................................................................................. 10 C.2 Loan Interest and Principal .............................................................................. 11 C.2.1 Loan Interest.................................................................................................................. 11 C.2.2 Loan Principal................................................................................................................ 11 C.3 Reserves ............................................................................................................ 12 C.3.1 Capital Account Reserves ............................................................................................ 12
C.3.1.1 Reserve Funds (Heading 1)............................................................................................ 12 C.3.1.2 Project and Non-Project Balances (Heading 2) ......................................................... 12
C.3.2 Non-Capital Account Reserves................................................................................... 13

C.3.2.1 C.3.2.2 C.3.2.3 C.3.2.4 Loan and Lease Repayment Reserves.......................................................................... 13 Historical Mortgage Funding Surplus/Deficit ........................................................... 13 Shared Ownership Rented Equity Account ............................................................... 13 Specific Revenue Reserve............................................................................................... 13
C.4 Plant, Machinery & Stores................................................................................ 14 C.4.1 Plant & Machinery ........................................................................................................ 14 C.4.2 Stores............................................................................................................................... 14 C.4.3 AFS Adjustment for Plant, Machinery and Stores................................................... 14 C.5 Accruals Processes............................................................................................ 15 C.5.1 Creditors ......................................................................................................................... 15 C.5.2 Accruals........................................................................................................................... 15 C.6 Central Management Charge (Programme Group 9)....................................... 16
D. BALANCE SHEET PROCEDURES ...............................................................17

D.1 Fixed Assets...................................................................................................... 17 D.1.1 Fixed Assets Principles............................................................................................ 17
D.1.2 D.1.3
Purchased Fixed Asset Additions.......................................................................... 18 Constructed Fixed Asset Additions (Transfers from Work in Progress) ....... 19
D.1.3.1 Constructed Fixed Asset Additions - Full Job Completion..................................... 20 D.1.3.2 Constructed Fixed Asset Additions - Part Job Completion .................................... 20
D.1.4 D.1.5 D.1.6 D.1.7
Fixed Asset Disposals ............................................................................................. 21 Fixed Assets Loan Funded.................................................................................. 21 Fixed Assets Lease Funded................................................................................. 21 Fixed Asset Depreciation/Charge......................................................................... 22
D.2 Long Term Debtors / Loans Receivable ...........................................................23 D.2.1 Monthly Mortgage Annuity Loans ............................................................................. 23 D.2.2 Tenant Purchase Average Instalment Loans ............................................................ 24 D.2.3 Shared Ownership Loans............................................................................................. 26
D.2.3.1 Issue of Shared Ownership Loans (Both Schemes).................................................. 26 D.2.3.2 Pre 2003 Shared Ownership Schemes ......................................................................... 27 D.2.3.3 Post 2002 Shared Ownership Schemes ....................................................................... 28
D.2.4 Voluntary Housing (DEHLG Debtor)...................................................................... 29 D.3 Trade Debtors ....................................................................................................30 D.3.1 Invoiced Debtors .......................................................................................................... 30 D.3.2 Tax Relief at Source (TRS) .......................................................................................... 30 D.3.3 Agent Works Recoupable ............................................................................................ 30 D.3.4 Accrued Income ............................................................................................................ 30 D.3.5 Current Portion of Long Term Debtors ................................................................... 30 D.4 Stock ................................................................................................................. 31 D.5 Urban Account ...................................................................................................32 D.6 Finance Leases .................................................................................................33 D.7 Loans Payable...................................................................................................36 D.7.1 Mortgage......................................................................................................................... 36 D.7.2 Non Mortgage Loans.................................................................................................... 37
D.7.2.1 D.7.2.2 D.7.2.3 D.7.2.4 D.7.2.5 D.7.2.6 D.7.2.7 Revenue Funding Loans................................................................................................. 37 Voluntary Housing Loans.............................................................................................. 37 Bridging Finance.............................................................................................................. 39 Shared Ownership Rented Equity Loans.................................................................... 39 Asset/Grant/Other Loans ............................................................................................ 39 Recoupable Loans ........................................................................................................... 41 Inter Local Authority Loans.......................................................................................... 42
D.7.3 Affordable Housing ...................................................................................................... 42 D.8 Refundable Deposits ........................................................................................45
APPENDIX 1 CHART OF ACCOUNTS STRUCTURE.................................. 46 APPENDIX 2 CAPREV FLAGS AND ROLLUP ACCOUNTS ..................... 62 APPENDIX 3 ACCOUNTING STRUCTURE FLOWCHART ....................... 63 APPENDIX 4 BALANCE SHEET IMPACT ON CAPITAL/REVENUE ..... 64
A. INTRODUCTION
Background
The Annual Financial Statement (AFS) for all Local Authorities is now prepared on an accrual basis and includes a balance sheet incorporating all assets and liabilities. This achieves the majority of objectives as set out in the publication Better Local Government. Similar accounting practices and procedures as now applies to all Agresso and non-Agresso authorities. Whilst the Accounting Manual has been prepared mainly for Agresso users the General Accounting working group has recommended that a similar document be prepared by all non-Agresso local authorities
Objective
The primary objective of the Accounting Manual can be summarised as follows: 1. Document the accounting procedures and policies relating to assets, liabilities, income and expenditure. 2. As far as is practical ensure a common approach to both accounting for and in the presentation of financial data. In addition to being a reference document for existing finance staff, it will also be of benefit to new staff members in getting a quicker understanding of the accounting procedures and policies that underpin the new FMS.
Methodology and Content

Individual Local Authorities were requested by the DEHLG to identify accounting procedures to be included in the manual. The final table of contents and presentation has been agreed by the General Accounting Working Group.
B. ACCOUNTING STRUCTURE
B.1 Overview of Accounting Structure

B.1.1 Account Elements
The Chart of Accounts structure within Financial Management System is based on the following basic split of Account Elements: Account Element Range 10000 to 49999 50000 to 59999 60000 to 99998 Heading Balance Sheet Income Expenditure
Income and Expenditure account elements include both capital and revenue items. At year end the capital totals are transferred to Rollup account elements on the Balance Sheet. This is dealt with in detail in Section B.2 below.
B.1.2 Account Groups

The account elements are then divided into further headings by the use of two Account Group values attached to the account element. Generally, the Account Group 1 value dictates the summary heading, for example, the Balance Sheet heading, while Account Group 2 divides this heading in to more detailed values, for example, detail within a note to the accounts. The structure of the account elements can be illustrated as follows by using the account element 11500 as an example: Account Element 11500 - Furniture
Account Group 1 10000 FIXED ASSETS
Account Group 2 10750 Computers, Furniture & Equipment
A detailed analysis of all account elements with the Chart of Accounts, together with the relevant account group relations is shown in Appendix 1. For further analysis of information within the notes to the Annual Financial Statement refer to Mentecs document AFS Rollout Pack.
B.1.3 Account Analysis

Additional analysis under account element is required to breakdown the income and expenditure accounts between capital and revenue transactions. This is done by the use of Job as a cost centre. All income and expenditure accounts must require a job to be entered and the job is then categorised as capital or revenue. There will be further analysis provided on accounts for the purpose of AFS extraction and this analysis will depend on the Financial Management System in place. Examples are as follows: Agresso Integra JD Edwards Subanalysis values and Transaction Types GL Codes, Parent Groups and Transaction Types Category Codes and Subsidiaries
An accounting structure flowchart is included at Appendix 3.
B.1.4 Transaction Types within the Agresso F.M.S.

The use of transaction types within the Agresso F.M.S. dictates the disclosure of certain information within the Annual Financial Statement. At present this specifically relates to three areas as follows: DESCRIPTION/HEADING Note 8 (a) - Loans Payable Borrowings Early Redemptions Other Adjustments (Non Cash) Repayments Note 9 - Urban Account Received/Paid Charge for Year TRANSACTION TYPE AR, BA, GB GR GA Any other T.T.
AR, AP Any other T.T.
Appendix 7 - Summary of Major Collections Receipts * AR, BA, DD Refunds * AP, OP, MP Write Offs WO,WW, IW Waivers WV Accrued Any other T.T. * Receipts and Refunds are combined and netted off for the purpose of Appendix 7. Note: For a full list of transaction types please refer to the most recent version of the COA Checker issued by the LGCSB.
B.2
Use of Jobs
B.2.1 Jobs and the Caprev Flag

Transactions will only form part of the Capital/Revenue accounts based on the account elements used. These specific account elements require a Job and based on the Jobs Caprev flag will subsequently form part of the capital account, revenue account or refundable deposits. The account elements are as follows:
Account Range
13000-14399
Description
Fixed Asset Suspense
Job Required
Yes
Note
Must be cleared to zero at year end but any interim balance will form part of the revenue or capital accounts. All transactions form part of the capital account, revenue account and refundable deposits Job is required as a memorandum entry only and does not form part of the capital or revenue accounts. Job is not required on any of these account elements and does not form part of the capital or revenue accounts
50000-99998 10000-12999 45000-45999 14400-44999 46000-49999
Income and Expenditure Fixed Assets Capitalisation Balance Sheet Other
Yes No
No
Where the account element forms part of the Capital account, Revenue account or Refundable Deposits its precise nature is dictated by the Caprev flag on the job as follows: Revenue - Flags P, R & S Capital - Flags beginning with C* or RS* Refundable Deposits - Flag RSR A full list of Caprev flags is included at Appendix 2.
B.2.2 Balance Sheet and Capital and Refundable Deposits

The Balance Sheet requires the inclusion of capital and refundable deposits at year end and this is done by the use of year end rollup journals. These journals are only performed at a summary level as described in Section B2.3. Subsequent to the rollup journals the overall income and expenditure account will only include revenue transactions.
B.2.3 Year End Rollup Accounts

Capital and Refundable Deposits transactions within the Income and Expenditure account are posted by summary journal to the Balance Sheet at year end. This procedure is carried out in order to calculate the revenue surplus/deficit for the year and act as a static figure for the prior year comparative. A specific rollup account exists on the Balance Sheet for each Caprev flag. Cumulative Income and Expenditure for Work-in-Progress and Preliminary Expenditure flags (CP* and CW*) are
posted separately with the remaining flags posted as the net position. The detailed rollup accounts are shown at Appendix 2. Other factors to be considered on Rollup journals and accounts are: Rollup journals are only performed after AFS finalisation for the purpose of comparative figures and the correct operation of the AG05 year end process. Any subsequent adjustments to the AFS must be reflected by an additional rollup journals adjustment. For the purposes of reporting on a financial year prior to AFS finalisation, the capital amounts are rolled up within the reporting structure to avoid repeating manual journals. Rollup Journals are performed as a reversing journals, posted in period 13 and reversed in period 00 of the following year.
Note: Refer to Section B.3/B.4 of Year-end document for detailed postings of Year End Rollups.
C. ACCOUNTING TREATMENTS
C.1 Transfers to/from Reserves

Transfers to/from reserves relate to items on the capital and/or revenue account that do not form part of standard expenditure or income under standard accounting principles. Transfers to/from reserves can be broken down in to three categories: 1) Movement of funds between revenue and capital 2) Balance Sheet reserves transfers 3) Inter Capital Transfers The account elements referring to the above transfers are: 59900 Revenue/Capital Income 65965 Revenue/Capital Expenditure 59940 Inter-Capital Income 65940 Inter-Capital Expenditure
C.1.1
Revenue and Capital Transfers
The movement of funds from revenue to capital or from capital to revenue show separately on the face of the Income and Expenditure account and also show as separate columns on the capital statement (Appendix 6 to the AFS). Examples would include provisions made in the budget process for future expenditure or the transfer of Plant & Machinery profit to capital. Any movement between revenue and capital that does not relate to normal expenditure or income for that year must be disclosed against the above two account elements. Therefore, such expenditure/income shows as a separately below the line and not part of the programme group structure.
C.1.2 Balance Sheet Reserves Transfers

Certain transactions within the AFS require separate disclosure in order to comply with proper accounting practice. Examples of this are as follows: The revenue funding of the principal portion of non mortgage loans The write off of the historical mortgage funding gap to revenue Movements in the specific revenue reserve
Section D.7.2.5 illustrates the use of account 65965 Transfer to/from reserves for the funding of the principal portion of non-mortgage loans through revenue. Where the principal portion is funded from capital it would not form part of transfers/to/from reserves. The standard account element for loan repayments, 90120, would be used in that case.
C.1.3 Inter Capital Transfers

Accounts 59940 and 65940 are used to transfer balances or funding from one capital job to another. An example of such a transfer would be the transfer of development levies income from the RSD development levies reserve job to a roads job. The journals in this instance would be as follows: Dr 65940 Programme Group 4 Development Levies Job Code (RSD flag) Cr 59940 Programme Group 2 Roads Scheme Job Code (CWF flag)
C.2 Loan Interest and Principal

C.2.1 Loan Interest
Within the revenue account loan interest is charged above the line for all mortgage and nonmortgage loans.
C.2.2 Loan Principal

As illustrated in section D.7 no loans charge principal to the revenue or capital account with the exception of Asset/Grant funding loans. Where the principal of these loans are revenue funded the principal will show below the line as Transfer to/from Reserves (see section D.7.2.5). Where the principal is funded from capital the principal shows as expenditure in the capital statement to avoid disclosure in the columns as Transfers to Revenue or Transfer from Revenue.
C.3 Reserves
Reserves with a Local Authority Balance Sheet can be categorised into two headings: Capital Account Reserves Non Capital Account Reserves
C.3.1 Capital Account Reserves

All capital job balances not at Preliminary or Work-in-Progress stages are categorised as Capital Reserves within the top half of Note 11 to the AFS. Primarily these balances fall into two headings: 1) Reserve funds created in capital which are ring-fenced for specific future purposes 2) Project schemes (completed) and non-project schemes which are further classified as funded or unfunded. The Caprev flags with these related headings are as follows:
Flag RSA RSN RSD RSS RSI RS CAF CAU COU RSF RSU Flag Description Realised TP Annuities Unrealised TP Annuities Reserves Development Levies Reserves Asset Funds Reserves Insurance Funds Reserves Other Completed Asset Funded Completed Asset Unfunded Completed Asset Opening Unfunded Non Project Balances - Funded Non Project Balances Unfunded Reserve Type Tenant Purchases Annuities - Realised Tenant Purchases Annuities - Unrealised Development Levies Asset Funding Reserves Insurance Fund Reserves Other Reserves Project Balances Funded Project Balances Unfunded Project Balances Unfunded Non Project Balances Funded Non Project Balances Unfunded Heading 1 1 1 1 1 1 2 2 2 2 2
C.3.1.1 Reserve Funds (Heading 1) Reserve funds relate to the various credit balances on capital jobs which have the Caprev flags specified as heading 1 within the above table. These funds will be transferred as funding to specific projects in the future. C.3.1.2 Project and Non-Project Balances (Heading 2) Project and Non-Project balances relate to the various overspends or credit balances on capital jobs which have the Caprev flags specified as heading 2 within the above table. It is split as follows: Project Balances are net balances on capital jobs which relate to an existing asset in the Fixed Asset Register. The balance exists due to over or under spending on the job. Non-Project Balances are net balances on capital jobs which do not relate to an existing asset in the Fixed asset register. Example being capital maintenance works or DPG/ERG balances. Project and Non-Project are further classified as funded or unfunded as follows: A Funded job will have future funding agreed. An Unfunded job will have no future funding agreed.
C.3.2 Non-Capital Account Reserves

Non Capital Reserves were created directly from the changeover to Balance Sheet accounting and show within the bottom half of Note 11 to the AFS or on the face of the Balance Sheet. The following accounts refer:
Account Description 48400 Loan Repayment Reserve 48500 Lease Repayment Reserve 47600 Historical Mortgage Funding Gap 48950 CPI Indexation Reserve 48000 Specific Revenue Reserve Reserve Heading Non Mortgage Loans Principal to be Amortised Lease Repayment Principal to be Amortised Hist. Opening Mortgage Funding Surplus/(Deficit) Shared Ownership Rented Equity Account Specific Revenue Reserve
C.3.2.1 Loan and Lease Repayment Reserves This relates to the future funding required on the outstanding principal on Non Mortgage loans and Finance Leases. Section D.7.2.5 (Loan) and section D.6 (Lease) refers. C.3.2.2 Historical Mortgage Funding Surplus/Deficit This reserve relates to the take-on of all mortgage loans receivable and payable at the date of transition to balance sheet accounting. It allowed for timing differences at this date by including balances on capital jobs relating to issues/redemptions of mortgage loans. Finally, it is reduced by any subsequent write-offs of the deficit/surplus to the revenue account. C.3.2.3 Shared Ownership Rented Equity Account This relates to the indexation on Pre 2003 Shared Ownership schemes, on both the customer and HFA loans. The indexation accrues in line with the Consumer Price Index. Refer to sections D.2.3.2 and D.7.2.4. C.3.2.4 Specific Revenue Reserve The specific revenue reserve arose from the take-on of Debtors at 1st January in the year of changeover to accrual accounting for income. The debtors primarily relate to the main income areas of rates, water, loans and rents. Certain miscellaneous income streams were also taken on to the specific revenue reserve where the income stream did not directly relate to expenditure already incurred in the revenue account. Certain expenditures will also have been charged to the Specific Reserve where the expenditure resulted from the changeover to accrual accounting and therefore constituted a change in accounting policy.
C.4 Plant, Machinery & Stores

The performance of Plant & Machinery activity and Stores activity exists in the revenue account of Local Authorities.
C.4.1 Plant & Machinery

Plant and Machinery is charged to various jobs in all programme groups according to a hourly, daily, or weekly charge-out rate. This equates to the income within the Plant & Machinery account and exists on jobs with the Caprev flag of P. The costs of running the plant and machinery account will also be recorded on various revenue jobs with the Caprev flag of P. An income and expenditure account can then be viewed based on these jobs and any profit is transferred to a capital fund for the future purchase of plant and machinery.
C.4.2 Stores
Goods held in stores are charged to various jobs at a mark-up on the average cost price. This mark-up is recorded as income on jobs with the Caprev flag of S. The related costs of running the stores are also held on these S flagged jobs in programme 0802. Refer to section D.4 for a worked example of stores.
C.4.3 AFS Adjustment for Plant, Machinery and Stores

The budget process does not cater for activity on Plant, Machinery and Stores and therefore an adjusting year-end journal is required in the AFS to remove the activity from programme 0802 as follows: Step 1: Set up a dummy revenue job with a Caprev flag of R within programme 0802. Step 2: Ascertain total income charged to jobs on all P and S flags Step 3: Perform an adjusting journal to remove the income by using the dummy job as follows: Dr 59000 and Cr 69000
C.5 Accruals Processes

Within AFS Note 5, Creditors & Accruals, the following distinction is made between Creditors and Accruals:
C.5.1 Creditors
Creditors relate to invoices approved and matched for payment.
C.5.2 Accruals
Accruals relate to purchase orders approved and GRNd prior to close off of the financial year. It will also include manual accruals posted after close-off. Accruals can be classified into two categories: Stock accruals relate to amounts due in respect of purchases to stores. Account 41100 refers in the COA. Within the Agresso FMS stock accruals arise automatically in the general ledger once the GRN has been performed. Non-stocked accruals relates to expenditure accruals, other than purchases to stores, which have been received but not matched for payment at date of year end close-off. Account 41000 refers in the COA. Note: Within the Agresso FMS a separate process must be run at month/year end to post non-stocked accruals to the general ledger. They do not post automatically as with stocked accruals. Note: Certain manual accruals will also be required where a purchase order or GRN does not exist. Example, un-invoiced solicitors fees.
C.6 Central Management Charge (Programme Group 9)

The Central Management Charge is an accumulation of certain costs and income that are allocated to programme groups. At month/year end programme 9 must be allocated across the other eight programme groups on the basis of expenditure. This allocation is done excluding transfers (accounts 59900 & 65965) and must be done separately for the following headings: Heading Expenditure Grants & Subsidies Goods & Services Contributions from Other Local Authorities Account used for Allocation 65650 Individually to relevant programme account Individually by original account element 57800
Example: XYZ County Council has programme 9 expenditure of 500,000 and grant income (50400) of 100,000 to be split over the eight programme groups as follows. Programme 1 2 3 4 5 6 7 8 Total Basis 20% 15% 15% 10% 5% 10% 10% 15% 100% Expenditure 100,000 75,000 75,000 50,000 25,000 50,000 50,000 75,000 500,000 Grants 20,000 15,000 15,000 10,000 5,000 10,000 10,000 15,000 100,000 Dr 100,000 75,000 75,000 50,000 25,000 50,000 50,000 75,000 CMC Job 01289999 02289999 03289999 04289999 05289999 06289999 07289999 08289999
The expenditure allocation is performed as follows: Account Job 65650 09289999 65650 01289999 65650 02289999 65650 03289999 65650 04289999 65650 05289999 65650 06289999 65650 07289999 65650 08289999
Cr 500,000
The Grant income allocation is performed as follows: 50400 09881234 100,000 50050 01289999 50100 02289999 50150 03289999 50200 04289999 50250 05289999 50300 06289999 50350 07289999 50400 08289999
100,000 75,000 75,000 50,000 25,000 50,000 50,000 75,000
Notes: Grants & Subsidies accounts have specific accounts for each programme and therefore the allocation must be performed to the specific account element as detailed above. Goods & Services and Contributions Other LA are performed similar to expenditure using the original account element for all lines of the allocation.
D. BALANCE SHEET PROCEDURES
D.1 Fixed Assets

D.1.1 Fixed Assets Principles
Valuation Historical Fixed Assets were taken on to the Financial Management System on a valuation basis as set out in the Fixed Asset Guidelines. On-going asset additions are valued at cost on an accruals basis. Capitalisation/Funding As all Fixed Assets require a funding source the corresponding funding exists as a Capitalisation Account Reserve on the Balance Sheet. All Fixed Assets therefore show as both an Asset and a Reserve on the face of the Balance Sheet. And must equal in all circumstances. This applies even in the case of overspending on an asset where total funding has not been received. Fixed Asset Thresholds The following thresholds have been established for the inclusion of assets in the fixed asset register: Recommended Threshold Dublin & Cork Authorities * 10,000 10,000 10,000 10,000 10,000 Recommended Threshold Other Authorities 5,000 5,000 5,000 5,000 5,000
Asset Type Furniture Equipment Plant & Machinery Heritage Assets Library Books
Current Threshold 1,270 1,270 No threshold No threshold No threshold
* Includes Dublin and Cork City Councils, Dun Laoghaire-Rathdowne, Fingal, South Dublin and Cork County Councils. Fixed Asset thresholds may be set lower than the above amounts but not higher. Depreciation Under the current method of accounting, the charge for depreciation is offset by the amortisation of the capitalisation (source of funding). This method has no impact on Income & Expenditure and consequently the charge for depreciation and the corresponding credit from amortisation is excluded from the Income & Expenditure Statement. The depreciation policies are as follows: Asset Type Plant & Machinery - Long life - Short life Equipment Furniture Heritage Assets Housing & Building Playgrounds Parks Bases S/L S/L S/L S/L S/L S/L
Depreciation Rate 10% 20% 20% 20% Nil Nil 20% 2%
Land Roads Water Assets - Water schemes - Drainage schemes
S/L S/L
Nil Nil Asset life over 70 years Asset life over 50 years
Disposals In respect of disposable assets, income is credited to a specific reserve (capital job with RSS caprev flag) and is generally applied in the purchase of new assets as noted in the Accounting Code of Practice (Ref page 24 par 3.2.3). Proceeds of the sale of local authority houses are to be applied as directed by the DEHLG. Revaluation Fixed assets are subject to revaluation procedures every five years.
D.1.2 Purchased Fixed Asset Additions

The Fixed Asset suspense accounts (13000 to 14399) are used to identify the purchase of Fixed Assets by a Local Authority. These accounts are temporary holdings accounts and must be cleared out on a regular basis by the Fixed Asset Registrar. Care should be taken to clear the accounts at both job and account level. Any balances existing on jobs on these accounts are treated as normal revenue/capital expenditure. Assets purchased over the Fixed Asset threshold and not purchased on a capital construction scheme that will itself form part of Fixed Assets should be journalled to the Fixed Register. Posting Steps: Step 1: Plant purchased for 50,000 against capital job 0123C Plant & Machinery Fund Reserve. Dr 13200 Cr 32000 Step 2: Setup Fixed Asset ID PL052 in Fixed Asset Register and transfer to register. A default F.A. job for purchased assets exists of 0888. Dr 10500 Cr 13200 Step 3: Show Funding of Asset from Revenue against the Capital Job, The posting to 45100 reflects the type of funding, i.e. revenue, loan, lease etc. Dr 65700 Cr 45100. Step 4: Transfer funding from revenue Dr 65965 Cr 59900
10500 F.A. Plant Long Life 50,000
Step 2 (Job 0888, ID PL052)
Step 1 (Job 0123C)
13200 Plant Long Life Suspense 50,000 Step 2 (Job 0123C)
50,000
32000 Bank Step 1
50,000
45100 Capitalisation Plant Long Life Step 3 (Job 0888, ID PL052, Funding REVFUNDED)
50,000
Step 3 (Job 0123C,)
65700 Transfer to Fixed Assets/Capitalisation 50,000 65965 Transfer to/from Reserves (Exp.) 50,000 59900 Transfer to/from Reserves (Inc.) Step 4 (Job 123C) Capital Account Summary 50,000 Step 2 13200 50,000 Step 4 59900 100,000 0 Revenue Account Summary 50,000
Step 4 (Revenue Job)
50,000
Step 1 13200 Step 3 65700 Bal b/d Step 4 65965
50,000 50,000 100,000
Other Points: The funding of the asset purchase is dictated by the funding value account analysis used on the 45100 account element and not by the job posting. Therefore, if this asset had been funded by a loan drawdown receipted to the capital job rather than by previous years revenue transfers the only change would be the use of the funding value LOAN and not REVFUNDED. Where more than one significant funding source exists the journal should be split against the appropriate SOURCING values. The default job 0888 is used on both Balance Sheet accounts 10500 and 45100. Job on these accounts is purely a memorandum entry (Balance Sheet) and does not form part of the revenue or capital account. Therefore, even if these postings has been against different jobs they would still not show on the revenue/capital account. This default job is used for purchased assets only, where an asset is constructed the original scheme job is used. However, the actual funding job can be used if preferred as the job is only a memo entry on the balance sheet. A review of expenditure accounts should be performed on a regular basis to identify fixed asset additions which have not hit the Fixed Asset Suspense accounts due to posting errors.
D.1.3 Constructed Fixed Asset Additions (Transfers from Work in Progress)

Capital schemes such as Housing, Roads, and Water/Sewerage schemes must be added to the Fixed Asset register on completion of the scheme. Once all expenditure has been accrued on the scheme it can then be transferred from Work in Progress to Fixed Assets. No expenditure on constructed schemes should hit the Fixed Asset Suspense accounts mentioned at D.1.2 above. A distinction is made between schemes which are fully completed with no further activity on the job and schemes where there is part completion of an asset on the job. Part completion of assets would primarily relate to Housing schemes where some houses may be completed and rented with construction ongoing on the remaining houses. Certain housing schemes may also contain a mix of social, affordable and voluntary activity which must be separated to individual jobs.
D.1.3.1 Constructed Fixed Asset Additions - Full Job Completion The procedure for constructed asset additions where the job is fully complete is as follows: Pre-posting Steps: Ensure all income and expenditure is accrued on the capital job and no amounts are posted to the Fixed Asset Suspense accounts 13000 to 14399. Perform an expenditure enquiry on the job on accounts 60000 to 99998 which provides the total Fixed Asset cost for entry in the Fixed Asset register. Perform an enquiry on both income and expenditure (50000 to 99998) to ascertain any remaining net balance on the job. Where a balance exists, its funding and completeness should be verified. Change the Caprev flag on the job from CWF/CWU to CAF (where balance is nil, in credit, or where there is a debit balance but future funding has been identified. If a debit balance exists and no definite future funding has been identified the flag should be changed to CAU. Set up the scheme as a Fixed Asset ID within the Fixed Asset Register. Posting Steps: A single accounting entry is required to record the asset on the balance sheet as follows Dr Relevant FA Account (10000-12999) Original scheme job (not default job as with purchased assets) Fixed Asset ID. Account analysis signifying constructed addition, e.g. ADDW Cr Relevant Capitalisation Account (45000-45999) Original scheme Job (not default job as with purchased assets) Fixed asset ID Funding type received on the capital job, e.g. Grant, Loan etc. Account analysis signifying constructed addition, e.g. ADDW
Other Points: The capital job used on the F.A. account range 10000-12999 will be used as a check against total expenditure on that job within the capital account. This is particularly relevant to the AFS reconciliation of Assets transferred from Work in Progress. The effect of changing the flag from CW* to CA* is to remove cumulative expenditure and income on the job from Work in Progress on the Balance Sheet and show the net balance on the job as Funded/Unfunded Project balance within Note 11 of the AFS. D.1.3.2 Constructed Fixed Asset Additions - Part Job Completion Where an asset is constructed but the job relates to a larger asset, the portion of expenditure relating to the completed asset must be transferred to a new job. The new (completed) job will have a flag of CA* while the overall job will continue to have a flag of CW*. The estimated value of the completed portion of the asset is transferred in two steps as follows: Step 1: Step 2: Dr 59940 (Existing CWF job) Dr 65940 (New CAF job) Cr 65940 (Existing CWF job) Cr 59940 (New CAF job)
Note: The WIP to Fixed Asset reconciliation will not identify the new job as a completed asset unless it is entered as part of the prior year csv file.
D.1.4 Fixed Asset Disposals

As all Fixed Asset purchases are funded originally from grant, loan, revenue etc., any proceeds received on the sale/disposal of Fixed Assets equates to a profit on disposal. The recommended procedures for asset disposal are as follows:
Pre-Posting Steps: Ensure all receipts from disposal of fixed assets are credited to the sale/disposal account elements in the range 55260 to 55399. The receipts should be posted against a capital job with a RS* flag as the proceeds can only be used for specific purposes. Review Sale/Disposal account elements and check for valid asset disposals Enquire as to whether any trade-ins have occurred which would not have involved the receipt of sale proceeds Posting Steps: Step 1: Dr Relevant Capitalisation Account (45000-45999) Original Job used on the cost addition posting Fixed asset ID and account analysis noting a disposal transaction, e.g. DIS. Funding type used on the original addition posting, e.g. Grant, Loan etc. Relevant FA Account (10000-12999) Original scheme job (not default job as with purchased assets) Fixed Asset ID and account analysis noting a disposal transaction, e.g. DIS. Relevant Accumulated Depreciation Account (10000-12999) Relevant Amortisation Account (45000-45999)
Cr
Step 2: Dr Cr
For illustration of the above posting steps see Section D.6 Finance Leases, at step 7 of this example. Final Steps: Close Fixed Asset ID within Fixed Asset Register and vouch zero balance on both the asset/depreciation accounts and capitalisation/amortisation accounts. Other Points: The transaction credit to the Fixed Asset cost account should signify the transaction as a disposal transaction. The type of analysis will depend on the F.M.S. in place. E.g. Agresso ASSETCLA DIS. Proceeds of Disposals within the Capital account should only be used to purchase additional fixed assets as outlined in the Accounting Code of Practice. Any reserve balance on these jobs will have a Caprev flag of RSS Reserves Asset Funding.
D.1.5 Fixed Assets Loan Funded

Where the disposal of an asset involves the repayment of a loan which funded the purchase refer to steps 6 and 7 of section D.7.2.5 below.
D.1.6 Fixed Assets Lease Funded

Where the disposal of an asset has been funded by a finance lease refer to section D.6 below.
D.1.7 Fixed Asset Depreciation/Charge

As described under section D.1.1 above depreciation does not hit expenditure. Also, the equivalent credit relating to the amortisation of capitalisation (source of funding) does not hit income. The depreciation transaction is an automated routine and is as follows: Dr Cr Accumulated Amortisation Accounts within Reserves (45000-45999) Accumulated Depreciation Accounts within Fixed Assets (10000-12999)
D.2 Long Term Debtors / Loans Receivable

Long-term debtors/loans receivable can be summarised under the following headings as set out in note 3 of the Annual Financial Statement. Long- Term Mortgage Advances Tenant Purchase Advances Shared Ownership Rented Equity Voluntary Housing Inter Local Authority Loans Long Term Investments Other Long-term mortgages relate to monies lent by local authorities for the purchase of houses. The monies to fund this type of lending will have been borrowed from the HFA and will be reflected under long-term loans payable (see section D7). Details of other long term debtors are set out in D.2.2-D.2.2.4.
D.2.1 Monthly Mortgage Annuity Loans

Mortgage Annuity Loans refer to accounts 21200 to 21240 in the Chart of Accounts. The issue, repayment and redemption of such loans are as follows: Step 1: Issue Reconstruction Loan of 20,000. Dr 21220 Cr 32000 Step 2: Monthly instalment including Tax relief and Mortgage Protection Dr 21275 Dr 21800 Cr 21220 Cr 55251 Cr 55252 Step 3: Part payment of instalment by customer Dr 32000 Cr 21800 Step 4: Customer Loan Redemption routine Dr 21275 Dr 21800 Cr 21220 Cr 55251 Cr 55252 Step 5: Account cleared by customer Dr 32000 Cr 21800
21220 Loans Reconstruction 20,000 Step 2 Step 4 Bal c/d 20,000 Nil 21275 TRS Due from Revenue 25 10 Bal c/d 35 35 21800 Commercial Debtor 455 Step 3 20,012 Step 5 Bal c/d 20,467 Nil
Step 1
170 19,830 Nil 20,000
Bal b/d
Step 2 Step 4 Bal b/d
35 35
Step 2 Step 4
300 20,167 Nil 20,467
Bal b/d
32000 Bank 300 Step 1 20,167 Bal c/d 20,467 467 55251 Loan Interest Receivable Step 2 (Revenue Job) 480 Step 4 (Revenue Job) 480 Bal b/d 55252 Loan Charges Step 2 (Revenue Job) 22 Step 4 (Revenue Job) 22 Bal b/d Revenue Account Summary Step 2 55251 Step 2 55252 Step 4 55251 502 Step 4 55252 502 Bal b/d
20,000 467 20,467
Bal c/d
295 185 480 480
Bal c/d
15 7 22 22
Bal c/d
295 15 185 7 502 502
Note: As with all mortgage loans the above reconstruction loan will be funded by the drawdown of an equivalent mortgage loan from the HFA. The accounting entries relating to this drawdown are detailed at section D7.1.
D.2.2 Tenant Purchase Average Instalment Loans

Tenant Purchase Loans Tenant Purchase loans are old loans that were treated as a rent within the old HVX system. On changeover to accrual accounting the capital balance was re-calculated and taken on as a loan to the F.M.S. Repayments of both principal and interest on these loans are classified as Internal Receipts and can only be spent as advised by the DEHLG on Capital Housing Construction Schemes. Under accrual accounting the opening principal (capital) taken on was ring fenced in a separate reserve called Unrealised Tenant Purchase Annuities. As these loan balances reduced the reduction amount each year was transferred from the Unrealised TP Annuities Reserve to the Realised TP Annuities Reserve. Therefore, each year the principal amount outstanding on these loans should agree to the balance on the Unrealised TP Reserve. Average Instalment Basis Tenant Purchase loans are calculated on an average instalment basis which is normally quarterly, half-yearly or annually. While the Average Instalment basis applies primarily to old Tenant Purchase Loans it can also apply to Mortgage loans. Under the average instalment basis, in order to calculate a weekly or monthly charge to the customer, the instalment is averaged and a temporary instalment is posted. This results in what is termed as 6 monthly - weekly loans, 6 monthly monthly loans or Yearly monthly
loans. For example, a 6 monthly weekly loan has an instalment that charges twice yearly and an average instalment that charges to the customers every week for 26 weeks. The average instalments are charged to account 21100 Loans Suspense account. An example of a Tenant Purchase Loan is as follows: Step 1: Step 2: Step 3: Step 4: Take on TP Annuity Loan (12 weeks into 26 week cycle) Dr 21245 Cr 21100 Cr 55100 Average instalments charged for remaining 14 weeks Dr 21100 Cr 21800 Full 6 monthly instalment charged Dr 21100 Cr 21245 Cr 55100 Transfer Principal reduction from unrealised to realised job Dr 55100 Cr 55100
Step 3 Bal c/d
21100 Loans Suspense 1,300 Step 1 (12 x 50) Nil Step 2 (14 x 50) 1,300 Bal b/d
600 700 1,300 Nil
Step 1
Bal b/d
21245 Loans Tenant Purchase 7,000 Step 3 Bal c/d 7,000 6,050 21800 Commercial Debtors 700
950 6,050 7,000
Step 2 (14 x 50)
Step 3
21275 TRS due from Revenue 50
55100 Annuities (Job-UNREALISED T.P. Annuities) Step 4 (Unrealised Job) 350 Step 1 (Unrealised Job) Bal c/d 6,050 6,400 Bal b/d 55100 Annuities (Job-REALISED T.P. Annuities) Step 3 (Realised Job) 700 Step 4 (Realised Job) 700 Bal b/d Capital Account Summary 350 Step 1 55100 Step 3 55100 6,750 Step 4 55100 7,100 Bal b/d
6,400 6,400 6,050
Bal c/d
350 350 700 700
Step 4 55100 Bal c/d
6,400 350 350 7,100 6,750
Other Points: The realised job balance of 700 includes both principal and interest as both are used as funding within Internal Receipts. Interest included within the weekly average instalment is temporarily treated as principal until the full instalment is charged.
D.2.3 Shared Ownership Loans

The Shared Ownership Scheme refers to the purchase of a house by a customer whereby the customer owns a percentage of the property (annuity portion) and pays a rent for the remaining portion (equity portion). He is then legally obliged to purchase the equity portion in the future. There are two types of Shared Ownership scheme: 1) Pre 2003 Schemes where the equity is indexed in line with the Consumer Price Index and increases in value year on year 2) Post 2002 Schemes where the customer is charged a base interest rate on the equity but it given credit for the rent he/she pays. Typically, in times of low interest rates the equity value will reduce on this type of scheme. D.2.3.1 Issue of Shared Ownership Loans (Both Schemes) The following example illustrates the accounting entries for a typical monthly shared ownership annuity mortgage issued to a customer. For the purpose of this example we will assume the house price is 150,000, being annuity 90,000 (60%) and equity 60,000 (40%). The customer pays a deposit of 5,000 which is offset proportionately off both the annuity and equity. Step 1: Deposit paid by customer 5,000 Dr 32000 Cr 14802 Step 2: Booking deposit paid to solicitor 15,000. Dr 14802 Cr 32000 Step 3: Balance of Equity Issued by Purchase Order (150,000-5,000)x40%=58,000 15000+5,000=48,000 Dr 14802 Cr 32000 Step 4: Loan Cheque issued (150,000 - 5,000) x 60% = 87,000 Dr 21230 Cr 32000 Step 5: Receive Equity Loan Funding from HFA Dr 32000 Cr 47032 Step 6: Receive Annuity Loan Funding from HFA Dr 32000 Cr 47230
14802 Shared Ownership Rented Equity (Post 02) 15,000 Step 1 (SOSREF 12345) 48,000 Bal c/d 63,000 58,000 32000 Bank 5,000 Step 2 58,000 Step 3 87,000 Step 4 Nil 150,000 21230 Loans Shared Ownership 87,000
Step 2 (SOSREF 12345) Step 3 (SOSREF 12345) Bal b/d
5,000 58,000 63,000
Step 1 Step 5 Step 6 Bal c/d
15,000 48,000 87,000 150,000
Step 4
47032 Non Mortgage Loans SOS Rented Equity Step 5
58,000
47230 Mortgage Loans - SOS Annuity Step 6
87,000
Other Points: The shared ownership accounts referred to above relate to the Post 2002 scheme. The pre 2003 scheme would be done in the same manner with the use of accounts 14800 and 47030 in place of 14802 and 47032. D.2.3.2 Pre 2003 Shared Ownership Schemes As mentioned previously, the equity for such schemes is calculated in line with the consumer process index (CPI). The HFA will add indexation to their loan on this basis once a year on the December statement but this indexation only applies to 30th June. Therefore, it is applied 6 months in arrears. Indexation on both customer equity and HFA loan will hit account 48950 Shared Ownership CPI reserve. This account will hold the cumulative variance on both sides of the indexation. An example is as follows: Step 1: Equity Issued to customer in March 2002 50,000 (CPI Mid March 130.5) Dr 14800 Cr 32000 Step 2: Loan Received from HFA 50,000 Dr 32000 Cr 47030 Step 3: Post calculation of customer equity to December 2002 (CPI 133.5) Dr 14800 Cr 48950 Step 4: Post Equity per HFA Statement 31st December 2002 (CPI June 2002 131.5) Dr 48950 Cr 47030 Step 5: Accrue HFA Indexation July to Dec 2002 (reversing period 00) Dr 48950 Cr 410007
14800 Shared Ownership Rented Equity 50,000 958 Bal c/d 50,958 50,958 32000 Bank 50,000 Step 1 Nil 47030 Non Mortgage Loans SOS Rented Equity Step 2 50,383 Step 4 50,383 Bal b/d
50,958 50,958
Step 2 Bal c/d
50,000
Bal c/d
50,000 383 50,383 50,383
Step 4 Step 5
48950 Shared Ownership CPI Reserve 383 Step 3 575 Bal c/d 41000 Accruals Step 5
958 Nil
575
D.2.3.3 Post 2002 Shared Ownership Schemes This scheme charges a base interest rate on the equity (say, 2.75%) but then allows the rent paid (3.8%) to reduce the equity. In this case where the rental percentage is higher than the base interest rate there will be a reduction in equity. The HFA allow an administration charge fee of 0.5% to be charged to the customer which results in an overall rental charge of 4.3%. An example is as follows: Step 1: Equity Issued to customer in January 2004 100,000 Dr 14802 Cr 32000 Step 2: Loan Received from HFA 100,000 Dr 32000 Cr 47032 Step 3: Rent Received inclusive of 0.5% administration charge (4.3%) Dr 32000 Cr 55000 Step 4: Calculate interest charge on customer Equity to 31 Dec, 2.75% - Dr 14802 Cr 55000 Step 5: Reanalyses Rental charge from income (3.8% excl. Admin.) Dr 55000 Cr 14800 Step 6: Process HFA Repayment Dr 47032 Dr 90100 Cr 32000
14802 Shared Ownership Rented Equity 100,000 Step 5 2,750 Bal c/d 102,750 98,950 32000 Bank 100,000 Step 1 4,300 Step 6 Bal c/d 500 47032 Non Mortgage Loans SOS Rented Equity 1,050 Step 2 98,950 100,000 Bal b/d 55000 Rents 3,800 Step 3 3,250 Step 4 7,050 Bal b/d 90100 Housing Loan Repayments 2,750
Step 1 Step 4 Bal b/d Step 2 Step 3
3,800 98,950 102,750
100,000 3,800 500
Bal b/d Step 6 Bal c/d
100,000 100,000 98,950 4,300 2,750 7,050 3,250
Step 5 Bal c/d
Step 6
Step 5 55000 Step 6 90100 Bal c/d
Revenue Account Summary 3,800 Step 3 55000 2,750 Step 4 55000 500 7,050 Bal b/d
4,300 2,750 7,050 500
Other Points: The above example assumes rents have been charged as a subscription to account 55000. Some Local Authorities may charge the Shared Ownership rent as an additional charge on the loan and therefore hit account 55252. No subsidy has been allowed for in this example The annual charge of 3.8% increases each year on 1st July by 4.5%. For simplicity of the calculation the above example ignores this increase.
D.2.4 Voluntary Housing (DEHLG Debtor)

Voluntary Housing relates to expenditure on the construction of houses for external social agencies, such as Respond, which is recouped in full from the DEHLG. The Local Authority is only acting as an intermediary to perform the following steps: 1) 2) 3) 4) Construct the houses and pass title to the Social Agency Drawdown HFA loans to fund the expenditure Repay principal and interest on the HFA loans Recoup HFA repayments in full from the DEHLG.
Account 14850 within the Chart of Accounts relates to DEHLG Debtor Voluntary Housing. This relates to the DEHLGs liability to the Local Authority to repay the outstanding HFA loans in respect of Voluntary Housing. This debtor should agree to the HFA loan liability included in account 47010 Non Mortgage Loans Voluntary Housing. A worked example on the operation of this account is included as part of section D.7.2.2 Voluntary Housing.
D.3 Trade Debtors

The operation of Trade Debtors within the F.M.S. can be categorised in to the following headings: Invoiced Debtors Tax Relief at Source due from Revenue Agent Works Recoupable Accrued Income Current Portion of Long Term Debtors
D.3.1 Invoiced Debtors

Accounts 21500 to 21900 within the COA refer to debtors which are invoiced through the billing or sales module in the F.M.S. This involves the mandatory use of debtors control account, income department, and customer ID. Invoices and receipts to customers would follow standard accounting practice for Debtors Ledger Control accounts.
D.3.2 Tax Relief at Source (TRS)

Account 21275 within the COA refers to TRS that is deducted automatically from customer loans instalments which is then recouped from the Revenue Commissioners. Subsequent refunds received are simply posted direct to this account.
D.3.3 Agent Works Recoupable

This debtor refers to capital job codes which are fully recoupable from an outside source and where the Local Authority is only acting as an intermediary or agent on the code. Account 27000 relates to this debtor and is a year end rollup account. Therefore, no direct postings are required to show this debtor as any jobs with Caprev flag RSW will automatically rollup and show on this account. On AFS finalisation a single year-end rollup journal is required as mentioned above at section B.2.2.
D.3.4 Accrued Income

This relates to debtors that have not been invoiced through the billing module but have been accrued to income by posting a reversing journal at year end. Account element 28000 primarily refers.
D.3.5 Current Portion of Long Term Debtors

The portion of principal due within 12 months of the Balance Sheet date on Customer Loans and DEHLG Voluntary Housing Debtor is journalled from Long Term Debtors to show as Trade Debtors. The reversing journal required is: Dr Account 21995 Cr Account 14995.
D.4 Stock
The various stock account elements within the Chart of Accounts are as follows:
Account 15000 15100 15200 15300 15400 15500 16000 16500 17000 18000 19000 19050 19100 19150 Description Material Stores Housing Stores Roads Stores Water Stores Drainage Stores Environmental Stores Machinery Stores Machinery Yard Equipment Bitumen Stores Fuel Stores Quarry IT Stores Stockpiles Print Stores
Unlike the stores procedure prior to accrual accounting, when stock is purchased it is held in the above balance sheet asset accounts and does not become expenditure on the job until it is issued from stores. A summary of the stores procedure is as follows: Step 1: Raise Stock Order and GRN goods into stores Dr 15000 Cr 41100 Step 2: Match GRN against invoice for payment Dr 41100 Cr 35000 Step 3: Issue portion of stock to roads job Dr 70990 Cr 15000 Cr 59100
15000 Material Stores 12,000 Step 3 Bal c/d 12,000 9,000 41100 Stock Accruals 12,000 Step 1 Nil 35000 Trade Creditors Step 2 70990 Goods Issued from Stores Step 3 (Any revenue or capital job) 3,300 59100 Stores Mark-up Step 3 (Program 0802 Job, S flag) Revenue Account Summary 3,300 Step 3 59100 Bal c/d 3,300
Step 1
3,000 9,000 12,000
Bal b/d
Step 2 Bal c/d
12,000
12,000
300
Step 3 70990
300 3,000 3,300
D.5 Urban Account

The Urban account (account 29500) reflects the asset/liability of the County Council to/from the Borough/Town Councils. Its operation within the FMS can be summarised as follows: The proportion of expenditure relevant to Borough/Town Councils to the County Council is estimated within the budget process at budget time. During AFS preparation the actual expenditure relevant to Borough/Town Councils would be reviewed and an adjustment then posted by the County to the county charge Prior to accrual accounting the corresponding adjustment was never recorded in the books of the Borough/Town Councils. Therefore, the liability was taken on through the Specific Revenue Reserve Within the current AFS all councils reflect the County Charge on an accrual basis and therefore account 29500 should be agreed across all Authorities Disclosure of the charge and the receipt/payment will be obtained by account analysis.
For example, within the Agresso FMS this is done by transaction type as follows: Charge for Year Received/Paid GL/MI AP/AR
D.6 Finance Leases

Assets funded by Finance Leases use the following account elements within the COA: 39500 Short Term Lease Agreements 46000 Long Term Lease Liability 48500 Lease Repayment Reserve 90000 Lease Interest As both the principal and interest repayment is funded from Revenue, the principal portion, calculated using the sum of digits method, is shown below the line as Transfers to/from Reserves. Sum Of Digits Method This method is used to estimate the interest portion of a finance lease repayment. The basic formula is as follows: Interest Charge x Repayment No.+ (Repayment no. 1) + (Repayment No. 2) +. ----------------------------------------------------------------------------------------Sum of Repayment No.s 10,000 4 years Quarterly 4 years x 4 quarters = 16 16+15+14+13+12+11+10+9+8+7+6+5+4+3+2+1 = 136 695 April to June 2005 16+15+14 = 45 11,120 1,120 1,120 x 45/136 = 370
Example: Asset Cost: Lease Term: Repayment Terms: No. of Repayments: Sum of Repayment No.s: Quarterly Repayment (Incl. VAT): First Quarter Due: Quarters paid 2006: Total Repayment Amount: Overall Interest Charge: Interest Charge in First 3 Quarters:
The following accounting entries are required: Step 1: Asset Purchase Set up Dr 10750 Cr 45150 Step 2: Lease Liability Set up Dr 48500 Cr 46000 Step 3: Quarterly Lease Repayments Jun/Sep/Dec (695 x 3 = 2,085) Dr 90000 Cr 32000 Step 4: Repost Principal Portion (2,085 370 = 1,715) Dr 46000 Cr 90000 Step 5: Post Principal Funding from Revenue Dr 65965 Cr 48500 Step 6: Post Current Portion of lease liability (695x4=2,780) Dr 46000 Cr 39500 Step 7: Post Depreciation at 20 % - Dr 45160 Cr 10760 Step 8: Dispose of Asset for 7,000 Dr 32000 Cr 55300 Step 9: Dispose of Asset Dr 45150 Cr 10750 & Dr 10760 Cr 45160 Step 10: Repay Finance Lease Dr 46000 Dr 39500 Cr 32000 Step 11: Record Funding of Lease Redemption Dr 90000 Cr 48500 Other Points: The total short and long term lease liability (accounts 39500 & 46000) must agree to the Lease Repayment Reserve (48500) The lease repayment reserve represents the future funding required on the lease.
Accounting Entries:
10750 Fixed Asset Computer Equipment 10,000 Step 9 10760 Accum Depreciation Computer Equipment 2,000 Step 7 32000 Bank 7,000 Step 3 (695 x 3) Step 10 39500 Short Term Lease Agreements 2,780 Step 6 45150 Capitalisation of Computer Equipment 10,000 Step 1 45160 Amortisation of Capitalisation Computers 2,000 Step 9 46000 Finance Lease Liability 1,715 Step 2 2,780 5,505 10,000 Bal b/d 48500 Lease Repayment Reserve 10,000 Step 5 Step 11 10,000 Nil 55300 Sale/Disposal Computers Step 8 (Capital Job) 65965 Transfer to/from Reserves 1,715 90000 Lease Interest 2,085 Step 4 (Revenue Job) 8,285 Bal c/d 10,370 8,655 Revenue Account Summary 2,085 Step 4 90000 1,715 Bal c/d 3,800 2,085
Step 1
10,000
Step 9
2,000
Step 8
2,085 8,285
Step 10
2,780
Step 9
10,000
Step 7
2,000
Step 4 Step 6 Step 10
10,000
10,000 Nil
Step 2
1,715 8,285 10,000
Bal b/d
7,000
Step 5 (Revenue Job)
Step 3 (695 x 3) (Revenue Job) Step 11 (Capital Job) Bal b/d Step 3 90000 Step 4 1,715 (Below the line) Bal b/d
1,715 8,655 10,370
1,715 2,085 2,085
Step 11 90000
Bal b/d
Capital Account Summary 8,285 Step 8 55300 Bal c/d 8,285 1,285
7,000 1,285 8,285
D.7 Loans Payable

Loans Payable is divided into two main headings, Mortgage and Non Mortgage. As already outlined in section D2 mortgage related borrowing will have a corresponding related debtor.
D.7.1 Mortgage
These are annuity type loans from financial institutions which are used as funding for equivalent annuity loans issued to customers. The various headings within the COA are as follows: Equivalent Customer Loan Account 21200 21210 21215 21216 21220 21225 21230 21231 21235 21240
Account 47200 47210 47215 47216 47220 47225 47230 47231 47235 47240
Description Mortgage Loans - Income Related Mortgage Loans - SDA Mortgage Loans - Annuity (Standard) Mortgage Loans - Annuity (Affordable) Mortgage Loans - Reconstruction Mortgage Loans - LRM Mortgage Loans - Shared Ownership (Standard) Mortgage Loans - Shared Ownership (Affordable) Mortgage Loans - Convertible Mortgage Loans - Caravan
The above loans payable headings equate to the headings mentioned under section D.2.1 for Long Term Debtors & Mortgage Advances. Repayments of Mortgage Loans to financial institutions can be summarised as follows: Institution HFA OPW Other Terms Twice yearly on 30th June and 31st December Twice yearly on 1st April and 1st November Monthly or Quarterly.
The accounting treatment of a mortgage loan issue, repayment and redemption is as follows: Step 1: Loan Received from HFA 500,000 Dr 32000 Cr 47220 Step 2: Repayment made to HFA Dr 47220 Dr 90200 Cr 32000 Step 3: Loan Redemption Dr 47220 Dr 90100 Cr 32000
47220 Mortgage Loans Reconstruction 1,500 Step 1 498,500 Bal c/d 500,000 Nil 32000 Bank 500,000 Step 2 7,250 Step 3 507,250 Bal b/d 90100 Housing Loan Repayments 6,500 750 Bal c/d 7,250 7,250
Step 2 Step 3 Bal b/d Step 1 Bal c/d
500,000 Nil 500,000
8,000 499,250 507,250 7,250
Step 2 (Revenue Job) Step 3 (Revenue Job) Bal b/d
7,250 7,250
D.7.2 Non Mortgage Loans

Non Mortgage Loans are divided within the following headings in the COA: Account 47000 47010 47020 47030 47031 47032 47033 47040 47050 47060 47300 Related Account Description None Non Mortgage Loans - Revenue Funding 14850 Non Mortgage Loans - Voluntary Housing None Non Mortgage Loans - Bridging Finance 14800 Non Mortgage Loans - S.O. Rent Equity (Standard) 14801 Non Mortgage Loans - S.O. Rent Equity (Affordable) 14802 Non Mort Loans - SOS Rented Equity Post '02 (Std) 14803 Non Mort Loans - SOS Rented Equity Post '02 (Aff) 48400 Non Mortgage Loans - DPG's and ERG's 48400 Non Mortgage Loans Assets 14860 Non Mortgage Loans Recoupable 29000 Inter Local Authority Loans Payable Section D.6.2.1 D.6.2.2 D.6.2.3 D.6.2.4 D.6.2.4 D.6.2.4 D.6.2.4 D.6.2.5 D.6.2.5 D.6.2.6 D.6.2.7
All non mortgage loans charge interest only to the revenue account as with mortgage loans. The treatment of principal varies with the type of loan which is dealt with in the following sections. D.7.2.1 Revenue Funding Loans Revenue Funding Loans relates to loans drawn down to fund cash shortfalls or revenue deficits. Primarily these loans existed on the old Statement of Balances prior to the changeover to Balance Sheet accounting. The loan is treated under the normal accounting practice of principal against the loan and interest to revenue. No corresponding or contra accounting entries are required. D.7.2.2 Voluntary Housing Loans The nature of Voluntary Housing schemes has been explained at section 2.4 above. Here we will explain the accounting entries involved in recording Voluntary Housing activity. The following example illustrates the more complex situation where a Local Authority is not entitled to claim back 100% of the loan charges due to the Housing scheme not being complete. Where 100% loan charges are recouped steps 7 to 9 would not be necessary as step 6 would include the full loan charges recoupment. Step 1: Step 2: Step 3: Step 4: Step 5: Step 6: Incur expenditure in construction of houses - Dr 69300 Cr 32000 Drawdown loan from HFA to fund expenditure Dr 32000 Cr 47010 Record DEHLG liability to fully fund HFA loan repayment Dr 14850 Cr 55220 Repay loan charges to HFA Dr 47010 Dr 90120 Cr 32000 Recoup HFA loan charges from DEHLG - Dr 21500 Cr 14850 Cr 50050 Receive Recoupment of loan Charges (assume only 60% due to scheme not complete) Dr 32000 Cr 21500 Step 7: Receive additional HFA loan to fund loan charges on incomplete schemes (40%) Dr 32000 Cr 47010 Step 8: Record DEHLG liability to fund additional loan (40%) Dr 14850 Cr 55220 Step 9: Record additional loan charges funding as expenditure Dr 90120 Cr 21500
14850 DEHLG Debtor Voluntary Housing Step 3 (DEHLG) 200,000 Step 5 (Recoup Principal) Step 8 (Additional Loan) 4,000 Bal c/d 204,000 Bal b/d 201,500 21500 Government Debtors 10,000 Step 6 (Receipt Recoupment) Nil Step 9 (Additional Loan) 10,000 Bal b/d 32000 Bank 200,000 Step 1 (Construction) 6,000 Step 4 (Principal/Interest Repaid) 4,000 Bal c/d 210,000 Nil
2,500 201,500 204,000
Step 5 (Recoup Principal/Interest) Bal c/d
6,000 4,000 10,000 Nil
Step 2 (Loan Drawdown) Step 6 (Receipt Recoupment) Step 7 (Additional Loan Funding) al b/d
200,000 10,000 Nil 210,000
47010 Non Mortgage Loans Voluntary Housing Step 4 (Principal Repaid) 2,500 Step 2 (Loan Drawdown) Bal c/d 201,500 Step 7 (Additional Loan Funding) 204,000 Bal b/d 50050 Env - Housing & Buildings (Grants) Step 5 (Recoup Int.)-REVENUE 55220 Non Housing Loans Drawdowns Step 3 (DEHLG) CAPITAL Bal c/d 204,000 Step 8 (DEHLG) CAPITAL 204,000 Bal b/d 69300 Contract Payments Step 1 (Construction) CAPITAL 200,000 90120 Non Housing Loan Repayments Step 4 (Loan Interest) REVENUE 7,500 Step 9 (Additional Loan) CAPITAL 4,000 Bal c/d 11,500 Bal b/d 11,500 Revenue Account Summary 7,500 Step 5 50050 Bal c/d Capital Account Summary 200,000 Step 3 55220 4,000 Step 8 55220 Bal c/d 204,000 0
200,000 4,000 204,000 201,500
7,500
200,000 4,000 204,000 204,000
11,500 11,500
Step 4 90120
7,500 0 200,000 4,000 0 204,000
Step 1 69300 Step 9 90120
Bal b/d
D.7.2.3 Bridging Finance Temporary Bridging Finance Loans are treated like a bank overdraft and do not hit the capital job as funding. They do not include 5 or 7 year interest only loans as they would come under the category of Asset/Grant loans. On receipt of a bridging finance loan the loan is simply accounted for as follows: Dr 32000 Bank Cr 47020 Non Mortgage Loans Bridging Finance Unlike other forms of non-mortgage loans, no corresponding or contra accounting entries are required. Where interest is rolled up on the loan the entry would be as follows: Dr 90200 Overdraft and other financial charges and the relevant capital or revenue job Cr 47020 - Non Mortgage Loans Bridging Finance D.7.2.4 Shared Ownership Rented Equity Loans These loans refer to the HFA funding of the equity portion of Shared Ownership. As described within section 2.3 there are two types of scheme: 1) Pre 2003 scheme is where the Local Authority pays an interest charge on the loan and the equity is increased each year in line with the Consumer Price Index. Accounts 47030 and 47031 refer. 2) Post 2002 scheme is where the Local Authority pays a fixed charge of 3.8% on the outstanding loan. Where the base interest rate is lower than the fixed charge the excess amount reduces the loan amount. Alternatively, if the base interest rate is higher than the fixed charge the loan value will increase by the shortfall. Accounts 47032 and 47033 refer. The accounting entries are included within section D.2.3.2 and D.2.3.3. D.7.2.5 Asset/Grant/Other Loans Asset/Grant loans (Accounts 47040 and 47050) are loans taken out to fund asset purchase, grant payments or other sundry activities which have no specific funding source outside the Local Authority. Repayments of principal and interest on the loans are normally funded from revenue in future years. However, in certain cases loans will be funded from capital sources, such as land sales etc. When funded from revenue sources the principal repaid on these loans show below the line as Transfers to/from Reserves on the Revenue Account. The unpaid principal, which equates to the outstanding loan, is held in account 48400, the Loan Repayment Reserve. An example of an asset funding loan following on from the purchase of plant 50,000 as per example above section D.1.2 is as follows Step 1: Drawdown of loan from HFA Dr 32000 Cr 47050 Step 2: Record funding of loan Dr 48400 Cr 55220 Step 3: Loan charges repayment Dr 47050 Dr 90120 Cr 32000 Step 4: Record principal funding of repayment Dr 65965 Cr 48400 Step 5: Dispose of asset, proceeds 40,000 Dr 32000 Cr 55290 Step 6: Record Disposal of asset Dr 45100 Cr 10500 Step 7: Redeem loan Dr 47050 Dr 90120 Cr 32000 Step 8: Record redemption funding Dr 90120 Cr 48400
Purchased Asset (Section C1.2) Bal b/d
10500 F.A. Plant Long Life 50,000 Step 6 (Disposal Book Entry) Nil 32000 Bank 50,000 Purchase Asset (Section C1.2) 45,000 Step 3 (Loan Charges) 7,200 Step 7 (Loan Redeemed) 102,200 Bal b/d
50,000
Step 1 (Loan Drawdown) Step 5 (Disposal Proceeds) Bal c/d
50,000 2,700 49,500 102,200 7,200
45100 Capitalisation Plant Long Life Step 6 (Disposal Book Entry) 50,000 Purchased Asset (Section C1.2) Bal b/d Nil 47050 Non Mortgage Loans Assets 1,000 Step 1 (Loan Drawdown) 49,000 Bal c/d 50,000 Nil 48400 Loan Repayment Reserve 50,000 Step 4 (Principal Funding) Nil Step 8 (Redemp. Funding) 50,000 Bal b/d 55220 Non Housing Loans Drawdowns Step 2 (Loan)-CAPITAL 55290 Sale/Disposal Plant Long Life Step 5 (Disp. Proceeds)-CAPITAL 65965 Transfer to/from Reserves Step 4 (Prin. Funding)-REVENUE 1,000 90120 Non Housing Loan Repayments Step 3 (Interest) REVENUE 1,700 Step 7 (Redeem-Interest)-REVENUE 500 Step 8 (Redeem Funding)-CAPITAL 49,000 Bal c/d 51,200 Bal b/d 51,200 Revenue Account Summary 1,000 1,700 500 Bal c/d 3,200 3,200
50,000
Step 3 (Principal) Step 7 (Loan Redeemed) Bal b/d
50,000 Nil 50,000
Step 2 Bal c/d
1,000 49,000 50,000 Nil
50,000
45,000
51,200 51,200
Step 4 65965 Step 3 90120 Step 7 90120 Bal b/d
3,200 3,200
Purchase Asset (Section C1.2) Step 8 90120 Bal c/d Bal b/d
Capital Account Summary 50,000 Step 2 55220 49,000 Step 5 55290 Bal c/d 99,000 4,000
50,000 45,000 4,000 99,000
Other Points: The debit balance of 4,000 on the capital account must be funded from asset reserve funds held elsewhere in the capital account. Where the loan principal is funded from capital, step 4 would hit account 90120 instead of account 65965. Where interest is rolled up, for example on a land loan, the entry would be: Dr 90200 Cr 47040, and, Dr 48400 Cr 55220. This shows the interest as both expenditure on the capital job and as funding by additional loan drawdown. D.7.2.6 Recoupable Loans This refers to loans taken out be a Local Authority on behalf of an outside body and the repayments of these loans are funded by that outside body. Voluntary housing would be a similar type of loan. A specific example of a recoupable loan would be a loan to the Harbour Commission to fund work done on a pier reconstruction. The Local Authority would perform the construction work, drawdown the loan and make the repayments. The Harbour Commission would then refund the loan repayments to the Local Authority. The accounting entries would be as follows: Step 1: Incur expenditure on Pier reconstruction Dr 69300 Cr 32000 Step 2: Drawdown loan from financial institution Dr 32000 Cr 47060 Step 3: Record funding as recoupable loan Dr 14860 Cr 55220 Step 4: Repay loan charges Dr 47060 Dr 90120 Cr 32000 Step 5: Recoup loan charges from the Harbour Commission Dr 21900 Cr 14860 Cr 53500 Step 6: Receive cash for recoupment Dr 32000 Cr 21500
14860 Other Loans Recoupable 50,000 Step 5 (Recoupment) Bal c/d 50,000 49,000 21900 Other Debtors 2,700 Step 6 (Cash Recoupment) 32000 Bank 50,000 Step 1 (Pier Expenditure) 2,700 Step 4 (Loan Charges) Nil 52,700 Bal b/d
Step 3 (Funding)
1,000 49,000 50,000
Bal b/d
Step 5 (Recoupment)
2,700
Step 2 (Loan Drawdown) Step 6 (Cash Recoupment) Bal c/d
50,000 2,700 52,700 Nil
Step 4 (Principal) Bal c/d
47060 Non Mortgage Loans Recoupable 1,000 Step 2 (Loan Drawdown) 49,000 50,000 Bal b/d 53500 Other Recreation & Amenity Step 5 (Recoupment)-REVENUE 55220 Non Housing Loans Drawdowns Step 3 (Funding)-CAPITAL 69300 Contract Payments 50,000
50,000 50,000 49,000
1,700
50,000
Step 1 (Pier Reconstion)-CAPITAL
90120 Non Housing Loan Repayments Step 4 (Interest) REVENUE 1,700
Transactions on both the capital and revenue account net off to zero as shown above. D.7.2.7 Inter Local Authority Loans Inter Local Authority Loans Payable (Account 47300) are loans given from one Local Authority to another Local Authority either within or outside that county. The loan will also be reflected as a Long Term Debtor (account 29000) in the AFS of the receiving Local Authority. The accounting entries are standard as under normal accounting for loans. Principal repaid reduces the loan and interest is charged to revenue. No further accounting entries are required.
D.7.3 Affordable Housing

Affordable Housing schemes are schemes whereby the Local Authority builds houses and sells the houses at low cost to individuals qualifying for the scheme. Construction of the houses is financed by a temporary bridging loan until the houses are subsequently sold. On sale of the houses a long term mortgage loan is drawn down to repay the bridging finance, as normally the Local Authority will provide annuity or shared ownership loans to the customers to finance the purchase. An example of an affordable housing scheme of 5 houses is as follows: Step 1: Transfer land cost to affordable scheme 100,000 - Dr 65000 Cr 59940 Step 2: Record disposal of land from Fixed Assets 100,000 - Dr 45250 Cr 11250 Step 3: Incur expenditure on house construction 850,000 - Dr 69300 Cr 32000 Step 4: Drawdown bridging finance to fund expenditure 850,000 - Dr 32000 Cr 47020 Step 5: Deposits received from customers (5,000 x 5 = 25,000) Dr 32000 Cr 59010 Step 6: Rollup Interest charged on Bridging Finance loan 10,000 Dr 90200 Cr 47020 Step 7: 5 houses sold by loan (960,000/5=192,000Dep. 5,000=187,000) Dr 21216 Cr 35000 Step 8: Transfer house sales as funding 935,000 Dr 35000 Cr 55250 Step 9: Draw down 25 year mortgage loan 935,000 Dr 32000 Cr 47216 Step 10: Repay Bridging Finance 860,000 Dr 47020 Cr 32000
11250 Fixed Asset Land Step 2 21216 Loans Annuity (Affordable) 935,000 32000 Bank 850,000 Step 3 25,000 Step 10 935,000 Bal c/d 1,810,000 100,000 35000 Trade Creditors 935,000 Step 7 (Loans 187,000 x 5) Nil 45250 Capitalisation Land 100,000 47020 Non Mortgage Loans Bridging Finance 860,000 Step 4 Nil Step 6 47216 Mortgage Loans Annuity Affordable Step 9 55250 Housing Loan Repay/Redemptions Step 8 (Affordable Job)
100,000
Step 7 (Loans 187,000 x 5)
Step 4 Step 5 Step 9 Bal b/d
850,000 860,000 100,000 1,810,000
Step 8 Bal b/d
935,000
Step 2
Step 10 Bal b/d
850,000 10,000
935,000
935,000
55320 Sale/Disposal Land Step 1 (Land Bank Job) 59010 Non Material Deposits Step 5 (Affordable Job) 65000 Land Purchase 100,000 69300 Contract Payments 850,000 90200 Overdraft Interest & Financial charges 10,000
100,000
25,000
Step 1 (Affordable Job)
Step 1 65000 Step 3 69300 Step 6 90200 Bal c/d
Capital Account Summary 100,000 Step 8 55250 850,000 Step 1 55320 10,000 Step 5 59010 100,000 1,060,000 Bal b/d
935,000 100,000 25,000 1,060,000 100,000
Other Points: Balance of cash at bank and the capital balance on the capital account of 100,000 equates to the reserve created on the sale of land on the land bank capital job. This would be subsequently used as funding for future land purchases. The annuity loan amount is the total expenditure on the affordable capital job, including bridging interest, less the deposit paid by the customer. On completion of the transactions the affordable job nets to zero. The Caprev flag relevant to the affordable housing job is RSW Agent Works Recoupable. Any interim balance on the job will therefore rollup to Trade Debtors in the AFS. In the above example it was assumed that no physical cheque was required to be issued to the solicitor. Where this is required step 8 above would be replaced by the following two entries: 1) Issue loan cheques Dr 35000 Cr 32000 2) Receipt loan cheques Dr 32000 Cr 55250
D.8 Refundable Deposits

Local Authorities receive cash deposits and bonds from developers which are refundable to the developer on the fulfilment of certain conditions agreed to in advance. The recommended treatment for these deposits is the set-up of a separate joint deposit account to hold such refundable deposits until maturity. A summary of the steps involved is as follows: Step 1: Receive deposit from developer Dr 33100 Cr 59000 Step 2: Add interest gained on deposit Dr 33100 Cr 58000 Step 3: Refund deposit to developer Dr 33100 Cr 99050
33100 Joint Deposit Accounts Refundable 10,000 Step 3 200
Step 1 Step 2
10,200
59000 Other Income Step 1 (Job with RSR Caprev flag) 58000 Investment Interest Step 2 (Job with RSR Caprev flag) 99050 Refunds 10,200
10,000
200
Step 3 (Job with RSR Caprev flag)
Other Points: Small deposits such as road opening deposits etc. are not required to follow the above procedure. The receipt and refund of such deposits may hit revenue jobs. Where the developer does not meet the conditions of the bond the deposit may then be transferred to the capital expenditure job that it relates to (Dr 99050 Cr 59000) Historically, Local Authorities have receipted certain refundable deposits to the main county fund bank account without setting up a separate deposit account. In these cases the balance on account 33100 will not agree the balance due on the refundable deposit job codes (flagged RSR). The balance on all RSR flagged jobs is rolled up to account 42000 on the balance sheet at year end.
APPENDIX 1 CHART OF ACCOUNTS STRUCTURE

Account Description Acgrp1 Acgrp2 Acgrp2 Description
BALANCE SHEET
FIXED ASSETS - NOTE 1 10000 Fixed Asset-Local Authority Housing 10010 Accum Deprec-Local Authority Housing 10250 Fixed Asset-Other Buildings 10260 Accum Deprec-Other Buildings 10500 Fixed Asset-Plant Long Life 10510 Accum Deprec-Plant Long Life 10600 Fixed Asset - Plant Short Life 10610 Accum Depreciation - Plant Short Life 10750 Fixed Asset-Computer Equipment 10760 Accum Deprec-Computer Equipment 11000 Fixed Asset-Other Equipment 11010 Accum Deprec-Other Equipment 11250 Fixed Asset-Land 11300 Fixed Asset-Parks and Recreational 11310 Accum Deprec-Parks and Recreational 11500 Fixed Asset-Furniture 11510 Accum Deprec-Furniture 12000 Fixed Asset-Heritage 12250 Fixed Asset-Road Network 12260 Accum Deprec-Road Network 12500 Fixed Asset-Water Network 12510 Accum Deprec-Water Network 12750 Fixed Asset-Sewerage Network 12760 Accum Deprec-Sewerage Network LONG TERM DEBTORS - NOTE 3 14400 Long Term Investments 14450 Long Term Investments - Cash Funds 14700 Long Term Advances 14800 Shared Ownership Rented Equity (Standard) 14801 Shared Ownership Rented Equity (Affordable) 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 14400 14400 14400 14400 14400 10000 10010 10250 10260 10500 10510 10500 10510 10750 10760 10750 10760 11250 11300 11310 10750 10760 12000 12250 12260 12500 12510 12500 12510 14400 14450 14400 14800 14800 LA Housing Accm Depn Housing Buildings Accm Depn Buildings P&M (Long & Short Life) Accm Depn P&M (Long & Short Life) P&M (Long & Short Life) Accm Depn P&M (Long & Short Life) Computers, Furniture & Equipment Accm Depn Computers, Furniture & Equipment Computers, Furniture & Equipment Accm Depn Computers, Furniture & Equipment Land Parks and Recreational Accm Depn Parks and Recreational Computers, Furniture & Equipment Accm Depn Computers, Furniture & Equipment Heritage Roads Network Accm Depn Roads Network Water & Sewerage Networks Accm Depn Water & Sewerage Networks Water & Sewerage Networks Accm Depn Water & Sewerage Networks Long Term Debtors - Other Long Term Investments Long Term Debtors - Other Shared Ownership Rented Equity Shared Ownership Rented Equity
Account
Description
Acgrp1 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14400 14500 14500 14500 14500 14500 15000 15000 15000 15000 15000 15000
Acgrp2 14800 14800 14850 14400 14995 21100 21101 21101 21101 21101 21101 21101 21101 21101 21101 21101 21101 21245 21270 21101 29000 14500 14510 14520 14600 14610 15000 16000 16000 16000 16000 16000
Acgrp2 Description Shared Ownership Rented Equity Shared Ownership Rented Equity Voluntary Housing Long Term Debtors - Other Current Portion on Long Term Debtors Loans Suspense Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Long Term Mortgage Advances Tenant Purchases Advances Long Term Mortgage Advances Long Term Mortgage Advances Inter Local Authority Loans Work In Progress Expenditure Funded Work In Progress Expenditure UnFunded WIP Land Preliminary Expenses Expenditure Funded Preliminary Expenses Expenditure UnFunded Main Stores Machinery Stores Machinery Stores Machinery Stores Machinery Stores Machinery Stores
14802 Shared Ownership Rented Equity Post '02 (Standard) 14803 Shared Ownership Rented Equity Post '02 (Affordab) 14850 DOE Debtor - Voluntary Housing 14860 Other Loans Recoupable 14995 Current Portion of Long Term Debtors (Cr) 21100 Loans - Suspense 21200 Loans - Income related 21205 Loans - Agency Commission 21210 Loans - SDA 21215 Loans - Annuity (Standard) 21216 Loans - Annuity (Affordable) 21220 Loans - Reconstruction 21225 Loans - Low Rise Mortgage 21230 Loans - Shared Ownership (Standard) 21231 Loans - Shared Ownership (Affordable) 21235 Loans - Convertible 21240 Loans - Caravan 21245 Loans - Tenant Purchase - Pre 88 21270 Special Repayment Account 21295 HFA Agency Loans - Creditor Contra 29000 Inter company Loan WIP/PRELIMINARY (ROLLUP A/C's) - NOTE 2 14500 Year End Rollup Work in Progress Funded 14510 Year End Rollup Work in Progress Unfunded 14520 Year End Rollup Work in Progress - Land 14600 Year End Rollup Preliminary Expenses Funded 14610 Year End Rollup Preliminary Expenses Unfunded STOCK - NOTE 4 15000 Material Stores 15100 Housing Stores 15200 Roads Stores 15300 Water Stores 15400 Drainage Stores 15500 Environmental Stores
Account
Description
Acgrp1 15000 15000 15000 15000 15000 15000 15000 15000 21300 21500 21500 21500 21500 21500 21500 21500 21500 21500 21500 21500 21500 21500 21500 21500 21500 29500 32000 32000 32000 32000
Acgrp2 16000 16000 17000 18000 19000 19000 19000 19000 21300 21275 20000 21500 21600 21700 21800 21800 21850 21900 20000 21990 21995 27000 20000 28500 30000 29500 32000 32000 32000 32000
Acgrp2 Description Machinery Stores Machinery Stores Bitumen Stores Fuel Stores Other Stores Other Stores Other Stores Other Stores Unallocated Cash Account TRS Refundable Other Debtors Government Debtors Other Local Authorities Commercial Debtors Non-Commercial Debtors Non-Commercial Debtors Development Levy Debtors Other Services Other Debtors Old HFA Agency Arrears Current Portion of Long Term Debtors Agent Works Recoupable Other Debtors Provision for Doubtful Debts Prepayments Urban Account Cash at Bank Cash at Bank Cash at Bank Cash at Bank
16000 Machinery Stores 16500 Machinery Yard Equipment 17000 Bitumen Stores 18000 Fuel Stores 19000 Quarry 19050 IT Stores 19100 Stockpiles 19150 Print Stores UNALLOCATED INCOME - BALANCE SHEET FACE 21300 Unallocated Cash Account TRADE DEBTORS & PREPAYMENTS - NOTE 5 21275 TRS Holding Account 21400 Unrealised FX in Debtors Account 21500 Government Debtors 21600 Other Local Authorities 21700 Commercial Debtors 21800 Non Commercial Debtors 21830 RAS Debtors Control Account 21850 Development Levies Debtors 21900 Other Debtors 21950 RAS Debtors Control Account 21990 Old HFA Agency Loans - Debtors Arrears Contra 21995 Current Portion of Long Term Debtors (Dr) 27000 Year End Rollup Agent Works Recoupable 28000 Miscellaneous Debtors 28500 Bad Debt Provision 30000 Prepayments URBAN ACCOUNT - NOTE 7 29500 Inter Company CASH AT BANK - BALANCE SHEET FACE 32000 Main Current Account 32100 Payroll Bank Account 32150 Sterling Bank Account 32300 Environment Waste - DD Bank Account
Account
Description
Acgrp1 32000 32000 32000 31000 31000 31000 34000 34000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 35000 39500 39500
Acgrp2 32000 32000 32000 31000 31000 31000 34000 34000 35000 35000 35100 35110 35110 35130 35100 35100 35100 35130 35130 35130 35200 35300 35100 35100 39995 41000 41000 39500 39500
Acgrp2 Description Cash at Bank Cash at Bank Cash at Bank Bank Investments Bank Investments Bank Investments Cash on Hand Cash on Hand Trade Creditors Trade Creditors Other Creditors Grants Grants Revenue Commissioners Other Creditors Other Creditors Other Creditors Revenue Commissioners Revenue Commissioners Revenue Commissioners Other Local Authorities Deferred Income Other Creditors Other Creditors Current Portion of Long-Term Creditors Stocked & Non-Stocked Goods Received Accruals Stocked & Non-Stocked Goods Received Accruals Finance Leases Finance Leases
32310 Rates - DD Bank Account 32320 Water Charges - DD Bank Account 32330 Environmental Charge - DD Bank Account INVESTMENTS - BALANCE SHEET FACE 33000 Deposit Account 33100 Joint Deposit Accounts Refundable 33500 Short Term Investments CASH ON HAND - BALANCE SHEET FACE 34000 Petty Cash 34600 Cash on Hand CREDITORS & ACCRUALS - NOTE 6 35000 Trade Creditors 35050 RAS Landlords Control Account 35100 Expenses 35110 Higher Education Grants 35120 Other Grants 35130 Revenue Commissioners 35140 Payroll Deductions - Creditors 35150 Superannuation Awards/Refunds 35160 Housing Loans 35170 Relevant Contracts Tax 35180 Professional Services W/T Tax 35190 VAT Control Account 35200 Other Local Authorities 35300 Deferred Income 38000 Net Pay Control Account 39600 Savings Scheme 39995 Current Portion of Long Term Creditors (Cr) 41000 Accruals 41100 Stock Accruals FINANCE LEASES (SHORT TERM) - BALANCE SHEET FACE 39500 Short Term Lease Agreements 39510 Lease Interest Liability REFUNDABLE DEPOSITS (ROLLUP A/C) - NOTE 9
Account
Description
Acgrp1 42000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000 45000
Acgrp2 42000 45000 45010 45010 45000 45010 45000 45010 45010 45000 45010 45000 45010 45010 45000 45000 45010 45010 45000 45000 45000 45010 45000 45010 45010 45000 45010 45000 45010 45010 45000 45010
Acgrp2 Description Refundable Deposits Capitalisation Capital Amortisation Capital Amortisation Capitalisation Capital Amortisation Capitalisation Capital Amortisation Capital Amortisation Capitalisation Capital Amortisation Capitalisation Capital Amortisation Capital Amortisation Capitalisation Capitalisation Capital Amortisation Capital Amortisation Capitalisation Capitalisation Capitalisation Capital Amortisation Capitalisation Capital Amortisation Capital Amortisation Capitalisation Capital Amortisation Capitalisation Capital Amortisation Capital Amortisation Capitalisation Capital Amortisation
42000 Year End Rollup Refundable Deposits Creditor CAPITALISATION - NOTE 10 45000 Capitalisation of LA Housing 45010 Cap Amortisation of LA Housing 45020 Revaluation of Land 45050 Capitalisation of Other Buildings 45060 Cap Amortisation of Other Buildings 45100 Capitalisation of Plant Long Life 45110 Cap Amortisation of Plant Long Life 45120 Revaluation of Housing Stock 45150 Capitalisation of Computer Equipment 45160 Cap Amortisation of Computer Equipment 45200 Capitalisation of Other Equipment 45210 Cap Amortisation of Other Equipment 45220 Revaluation of Buildings 45250 Capitalisation of Land 45300 Capitalisation of Office Furniture 45310 Cap Amortisation of Office Furniture 45320 Revaluation of Equipment 45400 Capitalisation of Heritage Assets 45420 Revaluation of Computers 45450 Capitalisation of Road Network 45460 Cap Amortisation of Road Network 45500 Capitalisation of Water Network 45510 Cap Amortisation of Water Network 45520 Revaluation of Machinery 45550 Capitalisation of Sewerage Network 45560 Cap Amortisation of Sewerage Network 45600 Capitalisation of Plant Short Life 45610 Cap Amortisation of Plant Short Life 45620 Revaluation of Office Equipment 45650 Capitalisation of Parks and Recreational 45660 Cap Amortisation of Parks and Recreational WIP/PRELIMINARY INCOME (ROLLUP A/C's) - NOTE 2
Account
Description
Acgrp1 45700 45700 45700 45700 45700 45700 46000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47000 47500 47500
Acgrp2 45700 45710 45710 45710 45800 45810 46000 47000 47010 47020 47030 47030 47030 47030 47040 47040 47060 47200 47200 47200 47200 47200 47200 47200 47200 47200 47200 47300 47995 47500
Acgrp2 Description Receipts WIP Funded Receipts WIP UnFunded Receipts WIP UnFunded Receipts WIP UnFunded Receipts Preliminary Expenses Funded Receipts Preliminary Expenses UnFunded Finance Leases Non-Mortgage Loans - Revenue Funding Non-Mortgage Loans - Voluntary Housing Non-Mortgage Loans - Bridging Finance Non-Mortgage Loans - Shared Ownership-Rented Equit Non-Mortgage Loans - Shared Ownership-Rented Equit Non-Mortgage Loans - Shared Ownership-Rented Equit Non-Mortgage Loans - Shared Ownership-Rented Equit Non-Mortgage Loans - Assets/Grants Non-Mortgage Loans - Assets/Grants Non-Mortgage Loans - Recoupable Mortgage Loans Mortgage Loans Mortgage Loans Mortgage Loans Mortgage Loans Mortgage Loans Mortgage Loans Mortgage Loans Mortgage Loans Mortgage Loans Non-Mortgage Loans - Inter-Local Authority Loans Current Portion of Loans Payable Other Long Term Liabilities
45700 Year End Rollup Work in Progress Receipts Funded 45710 Capital Amortisation of Office Furniture 45710 Year End Rollup Work in Progress Receipts Unfunded 45720 Revaluation of Office Furniture 45800 Year End Rollup Preliminary Expenses Funded 45810 Year End Rollup Preliminary Expenses UnFunded FINANCE LEASES (LONG TERM) - BALANCE SHEET FACE 46000 Long Term Lease Liabilities LOANS PAYABLE - NOTE 8 47000 Non Mortgage Loans - Revenue Funding 47010 Non Mortgage Loans - Voluntary Housing 47020 Non Mortgage Loans - Bridging Finance 47030 Non Mortgage Loans - S.O. Rent Equity (Standard) 47031 Non Mortgage Loans - S.O. Rent Equity (Affordable) 47032 Non Mort Loans - SOS Rented Equity Post '02 (Std) 47033 Non Mort Loans - SOS Rented Equity Post '02 (Aff) 47040 Non Mortgage Loans - DPG's and ERG's 47050 Non Mortgage Loans - Assets 47060 Non Mortgage Loans - Recoupable 47200 Mortgage Loans - Income Related 47210 Mortgage Loans - SDA 47215 Mortgage Loans - Annuity (Standard) 47216 Mortgage Loans - Annuity (Affordable) 47220 Mortgage Loans - Reconstruction 47225 Mortgage Loans - LRM 47230 Mortgage Loans - Shared Ownership (Standard) 47231 Mortgage Loans - Shared Ownership (Affordable) 47235 Mortgage Loans - Convertible 47240 Mortgage Loans - Caravan 47300 Inter Local Authority Loans Payable 47995 Current Portion of Long Term Creditors (Dr) OTHER LONG TERM LIABILITIES - BALANCE SHEET FACE 47500 Other Long Term Liabilities OTHER RESERVES/BALANCES - GENERAL - NOTE 11
Account
Description
Acgrp1
Acgrp2 47600 48400 48500 48950 48800 48800 48800 48800 48300 48310 48600 48800 48810 48820 48850 48860 48900 48910 48700 48000
Acgrp2 Description Historical Opening Mortgage Funding Surplus/(Defic Loan Repayment Reserve Lease Repayment Reserve Shared Ownership Rented Equity Indexation Reserve Other Reserves General Other Reserves General Other Reserves General Other Reserves General Unfunded Asset Reserves Funded Asset Reserves Development levies Other Reserves General Other Reserves - Asset Funding Other Reserves - Insurance Fund Funded Non Project Balances Unfunded Non project Balances Realised Tenant Purchase Annuity Reserves Unrealised Tenant Purchase Annuity Reserves General Revenue Reserve Specific Revenue Reserve
47600 Mortgage Funding Deficit/Surplus 48100 48400 Loan Repayment Reserve 48100 48500 Lease Repayment Reserve 48100 48950 Shared Ownership Rented Equity CPI Reserve 48100 49000 General Revenue Reserves 48100 49300 Sale of Assets - Building Fund Reserve 48100 49500 Other Reserves 48100 49510 Opening Take on Reserve 48100 OTHER RESERVES/BALANCES - CAPITAL (ROLLUP A/C's) - NOTE 11 48300 Year End Rollup Unfunded Asset Reserve 48100 48310 Year End Rollup Funded Asset Reserve 48100 48600 Year End Rollup General Charges Dev Reserve 48100 48800 Year End Rollup Other Reserves - General 48100 48810 Year End Rollup Other Reserves - Asset Funding 48100 48820 Year End Rollup Other Reserves - Insurance Fund 48100 48850 Year End Rollup Non Project Balances Funded 48100 48860 Year End Rollup Non Project Balances Unfunded 48100 48900 Year End Rollup Tenant Purchase Annuity Realised 48100 48910 Year End Rollup Tenant Purchase Annuity Unrealised 48100 GENERAL REVENUE RESERVE - BALANCE SHEET FACE 48700 General Revenue Reserve 48700 SPECIFIC REVENUE RESERVE - BALANCE SHEET FACE 48000 Specific Revenue Reserves 48000
Account
Description
Acgrp1
Acgrp2
Acgrp2 Description
INCOME & EXPENDITURE

GRANTS & SUBSIDIES - CAPITAL/REVENUE INCOME 50050 Env-Housing & Building 50100 Env-Road Transportation & Safety 50150 Env-Water Supply & Sewerage 50200 Env-Development Incentives & Control 50250 Env-Environmental Protection 50300 Env-Recreation & Amenity 50350 Env-Agriculture, Education, Health & Welfare 50400 Env-Miscellaneous Services 51100 Ed-Agriculture, Education, Health & Welfare 51150 Ed - Recreation & Amenity 51350 Arts-Recreation & Amenity 51400 Arts-Agriculture, Education, Health & Welfare 51450 Arts - Roads Transportation & Safety 51600 Marine-Agriculture, Education, Health & Welfare 51850 Agric-Miscellaneous Services 52100 Social-Environmental Protection 52150 Social-Recreation & Amenity 52160 Social - Miscellaneous Services 52200 Defence - Environmental Protection 52300 Justice - Miscellaneous Services 52500 Tour - Development Incentives & Control 52550 The Library Council 52700 The Arts Council 52850 NRA - Income 52860 Non Dept -HFA 52950 Non Dept - BMW,SE 53000 Other-Housing & Building 53100 Other-Roads Transportation & Safety 53200 Other-Water Supply & Sewerage 53300 Other-Development Incentives & Control 53400 Other-Environmental Protection 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50100 50150 50200 50250 50300 50350 50400 53600 53500 53500 53600 53100 53600 53650 53400 53500 53650 53400 53650 53300 53500 53500 53100 53000 53650 53000 53100 53200 53300 53400 Grants DoELG - Housing & Building Grants DoELG - Road Transportation and Safety Grants DoELG - Water Supply and Sewerage Grants DoELG - Development Incentives and Controls Grants DoELG - Environmental Protection Grants DoELG - Recreation and Amenity Grants DoELG - Agriculture, Education, Health and Grants DoELG - Miscellaneous Services Grants Other - Agriculture, Education, Health and Grants Other - Recreation and Amenity Grants Other - Recreation and Amenity Grants Other - Agriculture, Education, Health and Grants Other - Road Transportation and Safety Grants Other - Agriculture, Education, Health and Grants Other - Miscellaneous Services Grants Other - Environmental Protection Grants Other - Recreation and Amenity Grants Other - Miscellaneous Services Grants Other - Environmental Protection Grants Other - Miscellaneous Services Grants Other - Development Incentives and Controls Grants Other - Recreation and Amenity Grants Other - Recreation and Amenity Grants Other - Road Transportation and Safety Grants Other - Housing & Building Grants Other - Miscellaneous Services Grants Other - Housing & Building Grants Other - Road Transportation and Safety Grants Other - Water Supply and Sewerage Grants Other - Development Incentives and Controls Grants Other - Environmental Protection
Account
Description
Acgrp1 50000 50000 50000 50000 54400 54500 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000
Acgrp2 53500 53600 53650 53100 54400 54500 55000 55000 55000 55200 55200 55200 55200 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 55400 55500 55600 55650 55800 55900 56000 56200
Acgrp2 Description Grants Other - Recreation and Amenity Grants Other - Agriculture, Education, Health and Grants Other - Miscellaneous Services Grants Other - Road Transportation and Safety Local Government Fund Rates Housing Rent Housing Rent Housing Rent Housing Loans Interest & Charges Housing Loans Interest & Charges Housing Loans Interest & Charges Housing Loans Interest & Charges Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Commercial Water Domestic Water Domestic Refuse Commercial Refuse Domestic Sewerage Commercial Sewerage Planning Fees Parking Fees/Charges
53500 Other-Recreation & Amenity 53600 Other-Agriculture,Education,Health & Welfare 53650 Other-Miscellaneous Services 54450 Recoupment of Motor Tax Expenses LOCAL GOVERNMENT FUND - REVENUE INCOME 54400 Local Government Fund COMMERCIAL RATES - REVENUE INCOME 54500 Commercial Rates GOODS & SERVICES - CAPITAL/REVENUE INCOME 55000 Rent 55050 RAS Tenant Rents 55100 Annuities 55200 HFA Commissions Pre 1986 55250 Housing Loan Repay/Redeem by borrowers 55251 Loan Interest Receivable 55252 Loans Fixed Charges Income 55260 Sale/Disposal of Local Authority Housing 55280 Sale/Disposal of Other Buildings 55290 Sale/Disposal of Plant Long Life 55300 Sale/Disposal of Computers 55310 Sale/Disposal of Other Equipment 55320 Sale/Disposal of Land 55330 Sale/Disposal of Furniture 55340 Sale/Disposal of Heritage Assets 55380 Sale/Disposal of Plant Short Life 55390 Sale/Disposal of Parks and Recreational 55400 Water Charges-Commercial 55500 Water Charges - Domestic 55600 Domestic Refuse 55650 Commercial Refuse 55800 Waste Water 55900 Commercial Sewerage 56000 Planning Fees 56200 Parking Charges-Off Street
Account 56250 56400 56600 56800 57000 57200 57300 57500 57600 58000 58200 58400 58600 58650 58700 58800 58840 59000 59010 59100 59150 59200 59210 59220 59230 59240 59250 59260 59270 59280 59300 59310 59320 59800
Description Parking Charges-On Street Recreation & Amenity Activities Library Fees & Fines Private Works-External Bodies Pension Contributions Property Rental/Leasing Landfill Charges Fire Charges Licences Interest from Investments Insurance Claims Recoup Legal Costs Community Contributions Development Levies Other Support Services Other Fees/Charges Other Fines Miscellaneous Income Tender and Other Non-Material Refundable Deposits Stores Income - Mark Up Tar Stores Income - Mark up Machinery Yard Income Amortisation of LA Housing Amortisation of Other Buildings Amortisation of Plant Long Life Amortisation of Computer Equipment Amortisation of Other Equipment Amortisation of Plant Short Life Amortisation of Furniture Amortisation of Library Stock Amortisation of Road Network Amortisation of Water Network Amortisation of Sewerage Network Overhead Fund
Acgrp1 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000
Acgrp2 56200 56400 56600 56800 57000 57200 57300 57500 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000 59000
Acgrp2 Description Parking Fees/Charges Recreation & Amenity Activities Library Fees & Fines Agency Services Pension Contributions Property Rental & Leasing of Land Landfill Charges Fire Charges Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services Miscellaneous Inc - Goods & Services
Account
Description
Acgrp1
Acgrp2
Acgrp2 Description
NON MORTGAGE LOAN DRAWDOWNS - CAPITAL INCOME 55210 Housing Loan Drawdowns 55210 55220 Non - Housing Loan Drawdowns 55210 CONTRIBUTIONS FROM OTHER LA's - CAPITAL/REVENUE INCOME 57800 Recoup Other LA 57800 COUNTY CHARGE - REVENUE INCOME 59500 Urban Charges 59500 TRANSFERS TO/FROM RESERVES - CAPITAL/REVENUE INCOME 59900 Transfer to/from Cap/Rev (Inc) 59900 INTER CAPITAL TRANSFERS - CAPITAL INCOME 59940 Inter-Capital Transfer (Inc) 59940 PAYROLL - CAPITAL/REVENUE EXPENDITURE 60000 Basic Pay 60000 60030 Wages 60000 60040 Salaries 60000 60041 Temporary Salaries 60000 60042 Councillors Salaries 60000 60050 Pensions 60000 60100 ER PRSI 60000 60200 Overtime 60000 60300 Arrears 60000 60400 Sick Pay 60000 60500 Annual Leave 60000 60510 Bank Holiday Leave 60000 60520 Compassionate Leave 60000 60530 Time in Lieu Leave 60000 60600 Travel/Subsistence 60000 60700 Eating on site allowance 60000 60800 Acting Allowance 60000 60900 Retained Fire Services 60000 61990 Other Allowances 60000 62000 Overhead charge 60000 63000 Gratuities 60000 OPERATIONAL EXPENSES - CAPITAL/REVENUE EXPENDITURE
55210 55210 57800 59500 59900 59940 60000 60000 60000 60000 60000 63000 60000 60000 60000 60000 60000 60000 60000 60000 61500 61500 61500 61500 61500 61500 63000
Loan Drawdowns Loan Drawdowns Contributions from other LAs Charges to Urbans Transfers from Reserves Internal Transfers Salary & Wages Salary & Wages Salary & Wages Salary & Wages Salary & Wages Pensions & Gratuities Salary & Wages Salary & Wages Salary & Wages Salary & Wages Salary & Wages Salary & Wages Salary & Wages Salary & Wages Other Costs Other Costs Other Costs Other Costs Other Costs Other Costs Pensions & Gratuities
Account 13000 13010 13100 13200 13300 13400 13500 13510 13600 13900 14010 14110 14120 14130 14140 14150 14160 14170 14200 65000 65360 65370 65380 65390 65400 65410 65420 65440 65450 65460 65500 65600 65650 65700
Description Local Authority Housing Suspense Accum Depreciation Machinery Other Buildings Suspense Plant Long Life Suspense Computer Equipment Suspense Other Equipment Suspense Land Suspense Accum Depreciation Office Equipment Furniture Suspense Heritage Asset Suspense Accum Depreciation Office Furniture Housing Stock Suspense Building Suspense Equipment Suspense Computer Suspense Machinery Suspense Office Equipment Suspense Office Furniture Suspense Plant Short Life Suspense Land Purchase/Compensation Depreciation Other Buildings Depreciation Plant Long Life Depreciation Computer Equipment Depreciation Other Equipment Depreciation of Plant Short Life Depreciation Office Furniture Depreciation Library Stock Depreciation Road Network Depreciation Water Network Depreciation Sewerage Network Minor Contracts- Trade Services & other works Inter Department Transfers Apportionment of Central Management Charge Transfer to Fixed Assets/Capitalisation
Acgrp1 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000
Acgrp2 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 74900 74900 74900 74900 74900 74900 74900 74900 74900 74900 74900 69300 74900 74900 65700
Acgrp2 Description Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Other Other Other Other Other Other Other Other Other Other Other Contract Payments Other Other Purchase of Equipment
Account 65980 65990 66000 66500 66950 66960 66970 67000 67500 68000 68500 69000 69150 69200 69250 69260 69270 69300 69350 69360 69370 69400 69600 70000 70600 70970 70980 70990 70991 70992 70993 71000 71500 71550
Description Transfer to WIP/Prelim Exps Transfer to WIP Capitalisation Non-Capital Equip Purchase - Civil Defence Non-Capital Equip Purchase - Fire Services Transfer to Unfunded Assets Transfer to Loan Repayment Reserve Transfer to Lease Repayment Reserve Non-Capital Equip Purchase - Machinery Yard Non-Capital Equip Purchase - Computers Non-Capital Equip Purchase - Office Equip/Furn Non-Capital Equip Purchase - Other Hire (Ext) - Plant/Transport/Machinery & Equipment Repairs & Maint - Buildings (excl. LA Housing) Repairs & Maint - Plant Repairs & Maint -Computer Equip Repairs & Maint - Other Equip Repairs &Maint - Parks & Other Areas Capital Contracts Expenditure Agency Services - Other Local Authorities Agency Services - Non Local authorities Agency Health Boards Transfers from Machinery Yard Other Vehicle Expenses Materials Stock Adjustments Issues from Stores - No Markup Issues from Tar Stores Issues from Stores Returns to Stores Returns to Stores - No Markup Returns to Tar Stores Insurance Arts Activities Library Book Purchases
Acgrp1 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000 65000
Acgrp2 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 65700 69400 69100 69100 69100 69100 69100 69300 69350 69350 69350 69400 69100 70000 70000 70000 70000 70000 70000 70000 70000 74900 74900 74900
Acgrp2 Description Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Purchase of Equipment Machinery Yard Charges & Plant Hire Repairs & Maintenance Repairs & Maintenance Repairs & Maintenance Repairs & Maintenance Repairs & Maintenance Contract Payments Agency Services Agency Services Agency Services Machinery Yard Charges & Plant Hire Repairs & Maintenance Materials & Stores Issues Materials & Stores Issues Materials & Stores Issues Materials & Stores Issues Materials & Stores Issues Materials & Stores Issues Materials & Stores Issues Materials & Stores Issues Other Other Other
Account
Description
Acgrp1
Acgrp2
Acgrp2 Description Other Other Payments of Grants Payments of Grants Payments of Grants Payments of Grants Payments of Grants Other Other Other Other Other Other Other Other Other Other Other Other Other Other Other Other Other Other Other Internal Transfers Transfers of Revenue Funds to Reserves/WIP Transfers of Revenue Funds to Reserves/WIP Charges from County
71600 Prizes, sponsorship etc 65000 74900 71700 Community Events 65000 74900 72000 Housing Grants 65000 72000 72100 Higher Education Grants 65000 72000 72200 Amenity Grants 65000 72000 72300 Subsidy Grants 65000 72000 72900 Other Grants 65000 72000 73150 Removal Expenses 65000 74900 73200 Cathaoirlach 65000 74900 73210 Leas Cathaoirlach 65000 74900 73300 Members Allowance 65000 74900 73310 SPC Members Expenses(Non-elected members) 65000 74900 73320 Members Conferences - Home 65000 74900 73330 Members Conferences - abroad 65000 74900 73340 Members Expenses 65000 74900 73350 Contributions to Members Expenses 65000 74900 73360 SPC Chairs 65000 74900 73400 Staff Travelling & Subsistence Expenses 65000 74900 73420 Contributions to Staff Associations 65000 74900 73440 Other Travelling & Subsistence Expenses 65000 74900 73500 Election Expenses 65000 74900 73560 Franchise Fees 65000 74900 73600 RAS Landlord Payments 65000 74900 73650 RAS Payment for Damages 65000 74900 74000 Meals for Firemen 65000 74900 74500 Entertainment Expenses 65000 74900 INTER CAPITAL TRANSFERS - CAPITAL EXPENDITURE 65940 Inter Capital Transfers (Exp) 59940 59940 TRANSFERS TO/FROM RESERVES - CAPITAL/REVENUE EXPENDITURE 65950 Transfer to/from Reserves 65965 65965 65965 Transfer to/from Cap/Rev (Exp) 65965 65965 COUNTY CHARGE - REVENUE EXPENDITURE 72400 Payments to County Council 72400 72400 ADMINISTRATION - CAPITAL/REVENUE EXPENDITURE
Account
Description
Acgrp1 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 75000 85000 85000 85000 85000 85000 90000 90000 90000 90000 90000 90000 90000 90000 90000 90000
Acgrp2 75000 75000 76000 76000 77050 77200 77250 78000 78000 79000 79000 79000 80000 81000 81000 82000 82000 85000 85000 85000 85000 86000 90000 90000 90000 90000 90000 91000 91000 91150 91150 91150
Acgrp2 Description Computing Computing Communications Communications Office Expenses Security Cash Delivery Training & Recruitment Training & Recruitment Professional Fees & Expenses Professional Fees & Expenses Professional Fees & Expenses Advertising Printing & Stationery Printing & Stationery Contributions to Other Bodies Contributions to Other Bodies Accommodation Accommodation Accommodation Accommodation Energy Financial Charges Financial Charges Financial Charges Financial Charges Financial Charges Bad Debts Bad Debts Financial Management Financial Management Financial Management
75000 Computer Software 75100 LGCSB 76000 Communication Expenses 76100 Postage 77100 Courier 77200 Security - Property 77250 Security - Cash Delivery 78000 Training 78100 Recruitment Expenses 79000 Legal Fees and Expenses 79900 Other Fees and Expenses 79910 Commissioner of Valuation Office Fees 80000 Advertising 81000 Printing & Office Consumables 81050 Scanning 82000 Voluntary Contributions to Other Bodies 82100 Statutory Contributions to Other Bodies ESTABLISHMENT - CAPITAL/REVENUE EXPENDITURE 85000 Rent 85100 Rates and Other LA charges 85200 Cleaning 85300 Canteen 86000 Energy FINANCIAL - CAPITAL/REVENUE EXPENDITURE 90000 Lease Interest 90100 Housing Loan Repayments to HFA/OPW 90110 Housing Loan Advances 90120 Non- Housing Loan Repayments 90200 Overdraft interest & financial charges 91000 Bad Debts W/O 91100 Bad Debts Provision 91150 Audit Fee 91200 Prompt Payment Interest 92000 Exchange gain/loss account
Account
Description
Acgrp1 90000 90000 90000 99000 99000 99999
Acgrp2 91150 91150 91150 99000 99050 99999
Acgrp2 Description Financial Management Financial Management Financial Management Miscellaneous Refund AGRESSO System Account
92100 Euro Conversion Difference Account 93000 Difference Account/Payment Difference 95000 Invoice Distribution MISCELLANEOUS - CAPITAL/REVENUE EXPENDITURE 99000 Miscellaneous Expenses 99050 Refunds ERROR ACCOUNT - BALANCE SHEET FACE 99999 AGRESSO SYSTEM ACCOUNT
APPENDIX 2 CAPREV FLAGS AND ROLLUP ACCOUNTS

Caprev Flag CAF CAU COU CPF CPU CWF CWU RS RSA RSN RSD RSI RSS RSR RSF RSU RSW R P S Flag Description Completed Asset Funded Completed Asset UnFunded Completed Asset Opening UnFunded Preliminary Funded Preliminary UnFunded Work in Progress Funded Work in Progress UnFunded Reserves - Other Reserves - Realised TP Annuities Reserves - Unrealised TP Annuities Reserves - Development Levies Reserves - Insurance Fund Reserves - Asset Funding Refundable Deposits Non Project Balances Funded Non Project Balances UnFunded Agent Works Recoupable Revenue Plant & Machinery Stores Balance Sheet Heading Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 2 - WIP Note 2 - WIP Note 2 - WIP Note 2 - WIP Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 11 - Reserves Note 7 - Debtors N/A (I & E) N/A (I & E) N/A (I & E) Rollup Account Element Expenditure Income Net N/A N/A 48310 N/A N/A 48300 N/A N/A 48300 14600 45800 N/A 14610 45810 N/A 14500 45700 N/A 14510 45710 N/A N/A N/A 48800 N/A N/A 48900 N/A N/A 48910 N/A N/A 48600 N/A N/A 48820 N/A N/A 48810 N/A N/A 42000 N/A N/A 48850 N/A N/A 48860 N/A N/A 27000 N/A N/A N/A N/A N/A N/A N/A N/A N/A
APPENDIX 3 ACCOUNTING STRUCTURE FLOWCHART
CHART OF ACCOUNTS
ACCOUNT ELEMENTS
ACGRP1 & ACGRP2 relations
Income & Expenditure 13000 to 14399 50000 to 59999 60000 to 99998
Balance Sheet 10000 to 12999 14400 to 49999
Jobs with Caprev Relation
Revenue Flags R, P & S
Capital Flags CP*, CW*, CA* & RS*
Refundables Flag RSR
Year End Rollup Journals to Balance Sheet
APPENDIX 4 BALANCE SHEET IMPACT ON CAPITAL/REVENUE

Capital Account LOAN TRANSACTIONS Issue/Redemption of Loans Mortgage Loans Assets/Grants/Other Revenue Funding Bridging Finance Recoupable Shared Ownership Rented Equity. Inter LA Voluntary Housing Principal Repayment/Recoupment of Loans Mortgage Loans Assets/Grants/Other Revenue Funding Bridging Finance Recoupable Shared Ownership Rented Equity. Inter LA Voluntary Housing Revenue Account
No Yes No No Yes No No Yes
No No Yes No No No No No
No Yes* No No Yes* No No No*
No Yes** Yes** No Yes No No No
OTHER BALANCE SHEET TRANSACTIONS Asset Purchase Asset Disposal WIP/Preliminary Investments Project Balances Funded/Unfunded Non Project Balances Funded/Unfunded Development Levies TP Annuities Other Balances - Assets/Insurance/Other Finance Leases Refundable Deposits
Yes Yes Yes No Yes Yes Yes Yes Yes No No
Yes* No No No No No No No No No No
* Not standard practice but can occur in certain circumstances ** Principal shown below the line as Transfers to/from Reserves

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Department of Environment, Heritage and Local Government

LOCAL AUTHORITY ACCOUNTING MANUAL

Department of Environment, Heritage and Local Government ____________________________________________________ Accounting Manual

LOCAL AUTHORITY ACCOUNTING MANUAL

Finance Local May 2006

Acc Manual V1.9 - Page 2

C. ACCOUNTING TREATMENTS .....................................................................10

C.3.2 Non-Capital Account Reserves................................................................................... 13

D. BALANCE SHEET PROCEDURES ...............................................................17

D.1.4 D.1.5 D.1.6 D.1.7

D.7.3 Affordable Housing ...................................................................................................... 42 D.8 Refundable Deposits ........................................................................................45

Acc Manual V1.9 - Page 4

Methodology and Content

Acc Manual V1.9 - Page 5

B.1 Overview of Accounting Structure

B.1.2 Account Groups

Account Group 1 10000 FIXED ASSETS

Account Group 2 10750 Computers, Furniture & Equipment

Acc Manual V1.9 - Page 6

B.1.3 Account Analysis

An accounting structure flowchart is included at Appendix 3.

B.1.4 Transaction Types within the Agresso F.M.S.

AR, AP Any other T.T.

Acc Manual V1.9 - Page 7

B.2.1 Jobs and the Caprev Flag

50000-99998 10000-12999 45000-45999 14400-44999 46000-49999

Income and Expenditure Fixed Assets Capitalisation Balance Sheet Other

B.2.2 Balance Sheet and Capital and Refundable Deposits

B.2.3 Year End Rollup Accounts

Acc Manual V1.9 - Page 9

C.1 Transfers to/from Reserves

Revenue and Capital Transfers

C.1.2 Balance Sheet Reserves Transfers

C.1.3 Inter Capital Transfers

C.2 Loan Interest and Principal

C.2.2 Loan Principal

Acc Manual V1.9 - Page 11

C.3.1 Capital Account Reserves

C.3.2 Non-Capital Account Reserves

Acc Manual V1.9 - Page 13

C.4 Plant, Machinery & Stores

C.4.1 Plant & Machinery

C.4.3 AFS Adjustment for Plant, Machinery and Stores

Acc Manual V1.9 - Page 14

C.5 Accruals Processes

Acc Manual V1.9 - Page 15

C.6 Central Management Charge (Programme Group 9)

100,000 75,000 75,000 50,000 25,000 50,000 50,000 75,000

D. BALANCE SHEET PROCEDURES

D.1 Fixed Assets

Current Threshold 1,270 1,270 No threshold No threshold No threshold

Depreciation Rate 10% 20% 20% 20% Nil Nil 20% 2%

Land Roads Water Assets - Water schemes - Drainage schemes

D.1.2 Purchased Fixed Asset Additions

Step 2 (Job 0888, ID PL052)

Step 1 (Job 0123C)

13200 Plant Long Life Suspense 50,000 Step 2 (Job 0123C)

32000 Bank Step 1

Step 3 (Job 0123C,)

Step 4 (Revenue Job)

Step 1 13200 Step 3 65700 Bal b/d Step 4 65965

50,000 50,000 100,000

D.1.3 Constructed Fixed Asset Additions (Transfers from Work in Progress)

Acc Manual V1.9 - Page 19