Note 5 to the Departmental Resource Accounts: Reconciliation of net resource outturn to net cash requirement
| Reconciliation of net resource outturn to net cash requirement | Note | Estimate £000 |
Outturn £000 |
Net total outturn compared with Estimate: saving/ (excess) |
|---|---|---|---|---|
| Resource Outturn | 3 | 689,156 | 672,191 | 16,965 |
| Capital: Acquisition of property, plant and equipment | 6,700 | 9,781 | (3,081) | |
| Capital: Investments | - | - | - | |
| Non-operating A in A: Proceeds of asset disposals | - | - | - | |
| Accruals adjustments: Non-cash items | 9 and 10 | (16,018) | (33,425) | 17,407 |
| Accruals adjustments: Changes in working capital other than cash | 6,260 | 11,257 | (4,997) | |
| Accruals adjustments: Use of provisions | 18 | 1,673 | 4,163 | (2,490) |
| Net cash requirement | 687,771 | 663,967 | 23,804 |
Explanation of the variation between Estimate and outturn (net total resources):
(i) Net total outturn was £16.965 million less than the Estimate, representing 2.5% of net provision. The underspend represents continued efficiency savings made during the year to prepare for anticipated future financial pressures.
(ii) Expenditure on acquisition of fixed assets was £3.081 million more than the Estimate. This was due to additions of IT assets under the PFI contract. The overspend is offset by the resource underspend.
(iii) Non-cash items were £17.407 million higher than the Estimate due principally to a rise of £14.249 million in the early retirement provision necessitated by an increase in the number of staff taking early retirement as part of workforce modernisation.
(iv) Changes in working capital other than cash were £4.996 million more than the Estimate due principally to an increase in cost award debtors and new minor occupier debtors and accommodation prepayments due to occupying Rose Court in 2009.
(v) Use of provisions in year was £2.490 million higher than the Estimate due to an increase in the number of staff taking early retirement in 2008-09.
Detailed explanations of the variances are given in the Management Commentary.
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