At the end of each financial year we publish a statement of accounts.
The accounts show:
- how we have spent money on services in Lincolnshire
- statements of movement in the general fund
- gains and losses
- a balance sheet with all our assets and liabilities at 31 March
Statutory information
By law, we must publish certain documents and information about the annual external audit of our accounts:
- Lincolnshire County Council productivity plan
- annual audit report 2023 to 2024 - Lincolnshire County Council
- annual audit letter 2023 to 2024 - Lincolnshire County Council
- annual audit letter 2023 to 2024 - Lincolnshire Pension Fund
- notice of conclusion of audit 2022 to 2023
- completion report 2022 to 2023 - Lincolnshire County Council
- completion report 2022 to 2023 - Lincolnshire Pension Fund
- annual audit report 2022 to 2023 - Lincolnshire County Council
- annual audit letter 2022 to 2023 - Lincolnshire Pension Fund
Date: 31 March
Invoice payment performance
| Financial year | Undisputed invoices paid within 30 days | Value of liability of invoices paid after 30 days | Value of interest for late payment charges paid to suppliers |
|---|---|---|---|
| Financial year: 2023 to 24 | Undisputed invoices paid within 30 days: 93.2% | Value of liability of invoices paid after 30 days: £344,298 | Value of interest for late payment charges paid to suppliers: £0 |
| Financial year: 2022 to 23 | Undisputed invoices paid within 30 days: 97.1% | Value of liability of invoices paid after 30 days: £250,196.74 | Value of interest for late payment charges paid to suppliers: £0 |
| Financial year: 2021 to 22 | Undisputed invoices paid within 30 days: 97.1% | Value of liability of invoices paid after 30 days: £145,139.43 | Value of interest for late payment charges paid to suppliers: £0 |
| Financial year: 2020 to 21 | Undisputed invoices paid within 30 days: 97.3% | Value of liability of invoices paid after 30 days: £197,463 | Value of interest for late payment charges paid to suppliers: £368 |
| Financial year: 2019 to 20 | Undisputed invoices paid within 30 days: 91.0% | Value of liability of invoices paid after 30 days: £356,964 | Value of interest for late payment charges paid to suppliers: £0 |
| Financial year: 2018 to 19 | Undisputed invoices paid within 30 days: 89.0% | Value of liability of invoices paid after 30 days: £272,026 | Value of interest for late payment charges paid to suppliers: £0 |
| Financial year: 2017 to 18 | Undisputed invoices paid within 30 days: 89.1% | Value of liability of invoices paid after 30 days: £231,036 | Value of interest for late payment charges paid to suppliers: £0 |
| Financial year: 2016 to 17 | Undisputed invoices paid within 30 days: 86.7% | Value of liability of invoices paid after 30 days: £277,190 | Value of interest for late payment charges paid to suppliers: £0 |
| Financial year: 2015 to 16 | Undisputed invoices paid within 30 days: 87.7% | Value of liability of invoices paid after 30 days: £944,479 | Value of interest for late payment charges paid to suppliers: £0 |
We are committed to paying all undisputed invoices within 30 days. Payment delays can happen if invoices are in dispute.
Payment delays to undisputed invoices can happen if credit balances are held on supplier accounts.
We calculate interest liability at 8% plus the Bank of England base rate on 31 March for each financial year.
A large majority of maintained schools use our financial system. At present, we are not able to separate their figures.
We plan to develop our finance system by April 2021. We aim to improve processes, extend staff training, and improve our payment performance.