A plan maintained by the authority of the condition and suitability of its buildings, updated regularly and utilised to prioritise future capital programmes.  These plans will form part of future government strategies in allocating capital resources.

Property band commonly used to specify the average council tax. The band includes property values between £68,001 and £88,000 (as at 1^st April 1991).

A duty placed on local councils that came into force in April 2000 with the aim of improving the effectiveness, efficiency, economy and quality of local services.

A standard method of presenting financial information that has been recommended by CIPFA. Compliance with the Best Value Accounting Code of Practice should facilitate comparisons to be made between different local authorities.

An initiative introduced by the authority to improve access to services. This involves working with other providers, such as District Councils and the Health Service as well as community and voluntary groups, to make services more accessible in Leicestershire.

A local authority that has the power to set and collect Council Taxes. In the area served by the County Council these are the seven District Councils.

A statement of the Council's policy expressed in financial terms.

Estimated revenue expenditure, net of income from specific grants, fees and charges for services and any use of reserves.

Charges to services for the use of assets. Includes depreciation and notional interest on capital assets used by services.

Expenditure on the acquisition of fixed assets or expenditure that adds to the life or value of an existing fixed asset.

Costs associated with borrowing to finance capital expenditure.  Includes capital expenditure financed by revenue and debt management costs.

The authority's plan of capital works for the future years.  Expenditure on the acquisition of fixed assets or expenditure that adds to the life or value of an existing fixed asset.

The transfer of costs from central services departments to service departments to reflect the support services provided, e.g. payroll.

Chartered Institute of Public Finance and Accountancy.

Costs associated with County Council members and corporate management.

A property tax introduced in 1993/94.  Each residential property is placed in one of the eight council tax valuation bands determined by its estimated market value on 1^st April 1991.  There are discounts including where only one adult lives in the property.  Bills are also reduced for properties with people on low incomes, some people with disabilities and some other special cases.

The main revenue fund of the Council.  Income from the Council Tax precept and Government grants are paid into the fund, from which the cost of providing services is met.

A major new ring-fenced government specific grant introduced in 2006-07, providing funding for schools and schools-related expenditure.

Department for Environment, Food and Rural Affairs.

Reserves which are set aside for specific purposes.

Amounts payable to the Environment Agency to deal with flood defences.

Grant distributed by Government formula (see Four Block Model). Comprises National Non Domestic Rates (NNDR) and Revenue Support Grant (RSG).

A formula representing spending needs which was the main determinant of an authority’s Revenue Support Grant (RSG) in the years 2003-04 to 2005-06.  FSS's made use of information reflecting the demographic, physical and social characteristics of each area. The formulae showed basic amounts for each client group and various “top-ups”, e.g. for deprivation.

A complex new grant allocation method introduced by Government from 2006-07. The four blocks are:

A three year agreement that sets out the priorities of a local area in certain policy fields as agreed between central government and a local area, represented by the local authority and local strategic partnership.

A Government scheme intended to give local authorities an incentive to maximise business creation in their areas, by allowing them to effectively retain a proportion of any increase in business rates above a certain level reflecting average growth in recent years. ODPM calculates amounts of grant due under the LABGI scheme. In two-tier areas, the resulting grant is divided between District and County Councils on the basis of a notional EPCS calculation.

A rolling five year plan of local transport strategies for achieving an integrated transport system to tackle the problems of congestion and pollution.

A strategy which identifies priorities for service development.

The business rate poundage is the same for all non domestic rate payers and is set annually by the Government.  Income from business rates goes into a central pool which is then distributed to local authorities according to the resident population.

Central costs not included within the cost of individual services, e.g. charges for added years and early retirement.

A government office created as a central department in its own right in May 2002.  It brings together key responsibilities for regional and local government, fire, housing, planning and regeneration.

Income received from other bodies for particular services, eg Lottery/ New Opportunity Fund support of specific projects.

The income which the Council requires a District Council to raise on its behalf from Council Tax.

An amount set aside for future liabilities/losses.

The Local Government Act 2003 replaced detailed central government controls over the level of local authority capital expenditure with a system of self regulation based upon a requirement to ensure that capital expenditure plans are affordable, sustainable and prudent, as prescribed in CIPFA’s prudential code.

An agreement between the County Council and the Government setting out publicly clear targets for improved performance in twelve service areas. Initial funding is made available through a pump-priming grant.  A reward grant is paid if targets are achieved.

RNF form part of the new Four Block Model formula grant distribution calculation, introduced by the Government from 2006-07. RNFs are mathematical formulae that include information on the population, social structure and other characteristics of each authority and are designed to reflect the relative needs of individual authorities in providing services. The ODPM state that RNF are “not intended to measure the actual amount needed by any authority to provide local services, but to simply recognise the various factors which affect local authorities’ costs locally”. RNFs are expressed as proportions (to 14 decimal places) of an overall national control total for relative needs.

Savings or funds set aside to finance future spending pressures and unknown contingencies.

Expenditure that the Council incurs on the day to day costs of providing services including salaries and wages, running expenses of premises and vehicles as well as the annual repayment of debt charges.

Revenue Support Grant is paid by the Government in respect of local authority expenditure generally.

Grants paid by the Government for particular services, eg Dedicated Schools Grant or specific service areas/projects, eg School Standards Grant and Mandatory Awards to Students.

Payments to agencies and contracted service providers, eg payments to private sector nursing homes.

Payments to individuals for which no goods or services are received in return by the local authority, eg Mandatory Awards.