Our reporting standards
The financial statements reflect the requirements of the Accounting Code of Practice published by the Chartered Institute of Public Finance and Accountancy.
From 2010/11, our Statement of Accounts have been prepared in line with international financial reporting standards (IFRS). The main items are the:
- Foreword, gives an overview of our accounts highlighting significant financial matters in the statements
- Movement in Reserves Statement (MiRS) shows the movement between our usable and unusable reserves during the year
- Comprehensive Income and Expenditure Statement (CIES) shows the accounting cost of our activities rather than the amount to be funded from Council Tax. The Council Tax position (General Fund balance) is shown in the MiRS
- Balance Sheet shows our total assets, liabilities and net worth
- Cash Flow Statement explains the movements of cash, cash equivalents and bank overdraft during the year
- Housing Revenue Account is a separate statutory account which shows the total income and expenditure relating to council housing. These costs are included within the total costs shown in the CIES
- Collection Fund reports on the collection of local taxes (council tax and national non domestic rates) and their distribution to us, Greater Manchester Police Authority and Greater Manchester Fire and Rescue Authority
- Group Accounts show the full extent of our economic activities by reflecting the full extent of our involvement with group companies and organisations.
Download the audited annual accounts 2021/22 document
External Audit are responsible for carrying out an audit of our Annual Statement of Accounts. They will report on whether it gives a true and fair view of our financial position. Their Audit report summarises main concerns.
If you would like to get in touch about our reporting standards you can:
- write to Financial Accountancy Room 102, Corporate Services, Town Hall, Manchester M60 2LA, or
- email: financial.accountancy@manchester.gov.uk