Statement of accounts

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:

Delay in publishing audited Statement of Accounts: Year Ended 31 March 2021

Publication of Lincolnshire County Council and Lincolnshire Pension Fund’s Statement of Accounts and Audit Opinions

The external audit of the draft Statement of Accounts for the year ended 31 March 2021 has not yet been completed by our external auditors, Mazars LLP, as they envisage giving their opinions and issuing their audit reports in respect of the Lincolnshire County Council and the Lincolnshire Pension Fund Statements in November 2021.

This situation is allowed for by Regulation 10, paragraph (2) of the Accounts and Audit Regulations 2015 (SI 2015/234), as amended by the Accounts and Audit (Amendment) Regulations 2021 (SI 2021/263).

This notification explains, as per Regulation 10 (2) (a), that we are not yet able to publish our audited 2020/21 Statement of Accounts in line with publication date of 30 September 2021, as per Regulation 10 (1). The County Council and Pension Fund Officers are continuing to work closely with the external auditor to ensure the required work is completed as soon as possible. In line with the Accounts and Audit Regulations 2015, a draft Statement of Accounts was published subject to audit on 22 June 2021.  The final audited Statement of Accounts for the year ended 31 March 2021 will be published as soon as the audit is concluded, and the Independent Auditor’s Report issued.

Andrew Crookham
Executive Director of Resources
Date: 30 September 2021

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
2020/21 97.3% £197,463 £368
2019/20 91.0% £356,964 £0
2018/19 89.0% £272,026 £0
2017/18 89.1% £231,036 £0
2016/17 86.7% £277,190 £0
2015/16 87.7% £944,479 £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.