Notes to the Statement of Total Movements in Reserves

1. Fixed asset restatement reserve

	£000	£000
Balance at 31 March 2002		239,534
Expenditure not increasing valuation of assets	(13,056)
Disposal of fixed assets	(1,932)
Increase in valuation of assets	40,521
Balance at 31 March 2003		265,067

2. Capital financing reserve

	£000	£000
Balance at 31 March 2002		117,069
Capital financing:
- usable receipts	3,279
- revenue & reserves	3,522
Excess Depreciation over Minimum Revenue Provision	(1,082)
Impairment losses on fixed assets	(3,994)
Depreciation on grant aided services (release of grant)	388
Write off from Government Grants Deferred	6,929
Principal repayment under deferred purchase	150
Less: Principal repayments of transferred debt	(2,648)
Balance at 31 March 2003		123,613

3. Usable capital receipts reserve

	£000
Balance at 31 March 2002	467
Capital receipts received	3,347
less: Capital receipts used to finance capital expenditure	(3,279)
Balance at 31 March 2003	535

4. Movements in captial reserve during the year

	£000
Balance at 31 March 2002	142
Transfers from revenue	-
Balance at 31 March 2003	142

5. General County Fund

The balance of the fund as at 31 March 2003, £19.804m, contains the following earmarked sums:

	£000
Delegated Funding for Schools	11,688
Other Education establishments with devolved budgets	505
Carry forward of underspendings across other services	1,763
Carry forward of resources for funding of Capital	146
Earmarked Reserves at 31 March 2003	14,102

Thus, the uncommitted balance is restricted to £5.702m.

6. Movements in other revenue reserves during the year

	Balance at 31 March 2002	Appropriations From Revenue	Appropriations To Revenue/Capital	Balance at 31 March 2003
	£000	£000	£000	£000
Insurance	2,030	528	(600)	1,958
Renewals of vehicles and Equipment	2,529	1,021	(399)	3,151
DLO / BLN	248	0	(213)	35
Contingent Liabilities	331	13	(7)	337
Industrial properties	1,129	0	(404)	725
Education Service Units	184	0	(184)	0
Museums Art Fund	56	20	(20)	56
Central Maintenance Fund	0	1,399	0	1,399
Other	232	123	(68)	287
TOTAL	6,739	3,104	(1,895)	7,948

The net movement on revenue reserves does not equal the amount shown as ‘transfers to / from revenue reserves’ in the consolidated revenue account due to the method of accounting for self-insurance and the financing of capital expenditure.

7. Pension Reserve actuarial gain

The actuarial gain can be further analysed as follows:

	£000	%
Actual return less expected return on pension scheme assets	76,630	15.0%
Experience loss on pension liabilities	(2,180)	0.3%
Changes in assumptions underlying the present value of pension liabilities	0	0.0%
	74,450