Information

Scottish Government consolidated accounts: 2018-2019

Annual report of consolidated financial results of the Scottish Government, its Executive Agencies and the Crown Office, prepared in accordance with IFRS.


Finance, Economy and Fair Work

Portfolio Outturn Statement for the Year Ended 31 March 2019

2017-18
Outturn
Variance
Note
Gross
Expenditure
Income
Applied
Outturn Budget Variance
£m Programme £m £m £m £m £m
Expenditure Limit
18 Scottish Public Pensions Agency 17 1 16 17 (1)
35 Other Finance 1 59 8 51 56 (5)
4 Economic Advice 8 - 8 9 (1)
225 Enterprise 2 268 5 263 270 (7)
- Accountant in Bankruptcy 12 11 1 2 (1)
35 Employability and Training 3 45 - 45 54 (9)
- European Social Fund 2014-20 Programmes 24 24 - - -
- European Regional Development Fund 2014-20 Programmes 19 19 - - -
(5) European Structural Funds - Closed Schemes (1) 1 (2) - (2)
312 Total Expenditure Limit 451 69 382 408 (26)
UK Funded Annually Managed Expenditure
- Enterprise 4 78 - 78 40 38
- European Social Fund/European Development Fund (2) - (2) - (2)
- Total AME 76 - 76 40 36
312 Total Resources 527 69 458 448 10
19 Capital - Additions/Advances 5 43 - 43 77 (34)
19 Total Capital 43 - 43 77 (34)
331 Total Outturn 570 69 501 525 (24)

In addition to direct expenditure, the share of administration costs allocated to the Finance, Economy and Fair Work portfolio is £15m. This gives a total net expenditure of £516m.

Explanation of Major Variances greater than £3m:

Note 1 £3m of lower than anticipated Scotland Act Implementation payments to HMRC. £2m of miscellaneous minor underspends across a range of programmes.

Note 2 £4m of reprofiled National Manufacturing Institute for Scotland expenditure, £3m of guarantee fee income associated with the GFG Alliance Lochaber Guarantee and £3m of miscellaneous minor underspends across a range of programmes partially offset by £3m of additional expenditure in relation to setting up of Scottish National Investment Bank.

Note 3 £5m of lower than anticipated Employment Support Services expenditure across a range of areas, including the reprofiling of Disability Employment Action Plan, Work First Scotland and Scottish Employability Tracking System (SETS). £2m of lower than anticipated expenditure on staff costs. £2m of miscellaneous minor underspends across a range of programmes.

Note 4 £33m in-year provision. Further £5m due to higher than anticipated loan impairment in respect of IFRS 9 estimated expected credit loss assessment of financial assets at amortised cost.

Note 5 Reprofiling of some Building Scotland Fund's projects (£26m), reprofiling of some projects in relation to Enterprise Zones establishment of National Manufacturing Institute for Scotland (£10m), underspend in relation to a new element of Scottish Growth Scheme which was to be funded using Financial Transaction and European Funding (£7m), lower than anticipated demand in Digital Development Loans (£1m) and miscellaneous minor underspends across a range of programmes (£3m) partially offset by £13m of SG-administered loans to private companies funded from Financial Transactions.

Remaining £7m consists of other minor variances across a number of programmes within the portfolio.

Contact

Email: alison.douglas@gov.scot

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