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Our finance services

Redbridge Council's finance service is a support service which helps us to provide financial advice and support to our customers.

The service plays an active role in helping us to meet our aims and objectives and is committed to continually improving our services and processes to our residents and stakeholders.

Our finances

We are committed to good financial management and to the ongoing review and improvement of our financial processes and services.

You can find important information about how we organise our finances and spend our money.

Find out more information about:

Statement of Accounts 2019/20

The statement of accounts for the year ending 31 March 2020, provides information about the expenditure and income of our services for the year 2019 to 2020 as well as our assets and liabilities at the year end. It also contains summarised information on capital expenditure, a cash flow statement and the pension fund accounts.

Copies of the statement of accounts are available. Please contact the Finance Service if you require a hard copy. You can also view other publications relating to our final accounts for 2019/20.

Statement of accounts for previous years

These accounts have been approved by the auditors. Copies can be downloaded and hard copies can be viewed in our libraries. If you require your own hard copy please contact our finance services. 

2018/19:

 2017/18:

 2016/2017:

Insurance Documents:

2015/2016:

2014/2015:

 2013/2014:

2012/2013:

2011/2012

You can also view DataShare where you can view detailed information and figures about our budget.

Medium term financial strategy

The purpose of our medium term financial strategy is to:

  • support our corporate planning process
  • indicate the resource issues and principles

It sets out the current and projected financial forecasts over a 3 year planning timeline and is aimed at supporting the development of our budget over this period. It also provides the framework to enable the effective delivery of our key plans and strategies.

Pension fund

We offer membership in a final salary pension scheme, the Local Government Pension Scheme (LGPS), to all employees except for teachers. Teachers’ pensions are provided through the teachers’ pension scheme. View the pension website for LGPS members. 

We share this website with Newham and Havering Council, so take care to only use Redbridge’s forms, all other information is relevant for both Councils.

Our pension fund publications below provide details on the local government pension scheme. 

 

Opportunity to become a Local Pension Board Representative

Local Government Pension Scheme:   Local Pension Board

The Local Pensions Board has been in operation since 2015, and provides a unique opportunity for scheme members, employers and other suitably qualified individuals to become more involved with the oversight of the London Borough of Redbridge Pension Fund.  A vacancy has arisen to serve as an employee member representative on the Board. We are seeking expressions of interest from Pension Scheme members who would like to be considered for this role.

Key features of the Local Pension Board

  • The Pension Board has an oversight role, and assists the Council, who are the Administering Authority for the Pension Fund, to secure compliance with Pension Regulations and to ensure the effective and efficient governance and administration of the LGPS;
  • It is representative and contains 2 member employee representatives, 2 employer representatives and 1 non-voting independent Chair;
  • Normal Terms of Office is 3 years;
  • Board meetings will take place at least 4 times a year at Redbridge Town Hall;
  • Members of the Pension Board should be willing to attend induction/training sessions to ensure that they acquire/maintain the required level of knowledge and understanding necessary to carry out their role on the Board;
  • The member and employer representative roles will not be remunerated but a travel and subsistence allowance will be paid.

For more information please see the terms of reference (PDF 25KB)

If you consider that you meet the requirements of the person specification and are interested in serving on the Board, then please complete the expression of interest form available from the website.

Completed forms should be returned by the 30th September 2019 to

Jan Grant

Chief Accountant

London Borough of Redbridge

9th Floor Front

Lynton House

255-259 High Road

Ilford

Essex IG1 1NN

 

Or by email to   Jan.Grant@redbridge.gov.uk

We are required to publish our planned and actual spending on education and children’s social care under Section 251 of the Apprenticeships, Skills, Children and Learning Act 2009. We are required to publish schemes for financing schools, setting out the financial relationship between us and the schools we maintain.

We record our spending for:

  • total dedicated schools grant (DSG)
  • early years
  • high needs
  • post-16
  • other non-statutory spending

We must also provide details of our children and young people’s services budget.

The section 251 budget data statements are the primary means of informing schools and the public in general about our funding and expenditure plans on education and children’s social care functions in a form that allows benchmarking. 

To contact us email schools.finance@redbridge.gov.uk

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