21-Explanation-of-Variances-2023-24.xls

	A	C	D	F	G	H	L	M	N
1	Explanation of variances – pro forma
2	Name of smaller authority:	Milverton Parish Council
3	County area (local councils and parish meetings only):	Somerset
4	Insert figures from Section 2 of the AGAR in all Blue highlighted boxes
5	Next, please provide full explanations, including numerical values, for the following that will be flagged in the green boxes where relevant: • variances of more than 15% between totals for individual boxes (except variances of less than £200); • New from 2020/21 onwards: variances of £100,000 or more require explanation regardless of the % variation year on year;
6
7
8			2022/23	2023/24	Variance	Variance	Explanation Required?	Automatic responses trigger below based on figures input, DO NOT OVERWRITE THESE BOXES	Explanation from smaller authority (must include narrative and supporting figures)
9			£	£	£	%
10
11	1 Balances Brought Forward		44,175	24,837				Explanation of % variance from PY opening balance not required - Balance brought forward agrees
12
13	2 Precept or Rates and Levies		28,000	31,500	3,500	12.50%	NO
14
15	3 Total Other Receipts		11,796	12,337	541	4.59%	NO
16
17	4 Staff Costs		15,378	14,202	-1,176	7.65%	NO
18
19	5 Loan Interest/Capital Repayment		0	0	0	0.00%	NO
20
21	6 All Other Payments		43,756	30,158	-13,598	31.08%	YES	Toilet renovation costs lower by £5587;Toilet upkeep costs higher due to re-opening £3795; Lower grants given £3325; Speed Indicator Devices were purchased in £2022/23 £3650; Greater recoverable VAT in 2022/23 £2478; Reduced grass cutting £1110
22
23	7 Balances Carried Forward		24,837	24,314				VARIANCE EXPLANATION NOT REQUIRED
24
25	8 Total Cash and Short Term Investments		24,837	24,314				VARIANCE EXPLANATION NOT REQUIRED
26
27	9 Total Fixed Assets plus Other Long Term Investments and Assets		7,494	7,493	-1	0.01%	NO
28
29	10 Total Borrowings		0	0	0	0.00%	NO
30
31		Rounding errors of up to £2 are tolerable
32
33		Variances of £200 or less are tolerable
34
35		BOX 10 VARIANCE EXPLANATION NOT REQUIRED IF CHANGE CAN BE EXPLAINED BY BOX 5 (CAPITAL PLUS INTEREST PAYMENT)
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100