Since the approval of the Statement of Accounts by the Fire Authority on 11 June 2008, there has been an amendment to the Pension Account contained within the Statement. Additional payments were made to firefighters who retired on or after 1 October 2007, following changes to the calculation of commutations. These payments were confirmed after the accounts had been submitted for approval, and the necessary changes have now been made. The effect is to increase debtors by £141,000 offset by the same increase in the amount due from Pension Top Up Grant to pay for this
In addition, valuations of a number of the Authority's buildings are being carried out, following capital expenditure in the 2007/08 year. These valuations are being done retrospectively, as the total capital expenditure on the buildings concerned is not material. In 2008/09, valuations will be carried out prior to the closure of the accounts, on those assets where capital improvements have been made or where it would be in the Authority's interest to bring forward valuation from the next scheduled valuation in 2010/11. For information
