The document below provides information from Greenwich’s 2007 to 2008 Statement of Accounts, giving details of our revenue and capital expenditure together with a summary of the Council’s assets and liabilities.
What is revenue?
Revenue spending represents the day-to-day running costs of the Council providing its services. It is funded from government grants, Council Tax, business rates and other income.
What is capital?
Capital expenditure (such as the re-roofing of a council house) is spending on items of benefit to the community for longer than one year and financed from loans, grants, capital receipts and contributions from revenue.
Financial position
The Audit Commission has audited the accounts and stated that, ‘the statement of accounts presents fairly the financial position of Greenwich Council as at 31 March 2008 and its income and expenditure for the year then ended’.
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The Director of Finance
Greenwich Council
Riverside House East
Woolwich High Street
London SE18 6BU
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