FINANCIAL INFORMATION AND EXPENDITURE

Financial Information

Financial Regulations

The Financial Regulations (PDF, 703kb) for the Mayoral Combined Authority set out the financial management policies that we operate and they are a key part of our financial governance arrangements. The Financial Regulations help members and officers to manage the Mayoral Combined Authority’s finances in line with best practice.

Annual Statement of Accounts

The Authority and Group’s 2020/21 financial performance in terms of both revenue and capital outturn position was reported to the Mayoral Combined Authority (MCA) on 7 June 2021.

The 2020/21 Annual Statement of Accounts represent the Authority and Group’s formal statutory financial accounts. These are consistent with the outturn position reported to the MCA but report performance in a different format as required by financial reporting rules applicable to local authority accounting.

The Unaudited 2020/21 Annual Statement of Accounts were considered by Audit & Standards Committee on 15 July 2021 and subject to external audit from 21 June 2021. The audit has now concluded and an unqualified opinion issued. The MCA formally adopted the Audited Statement of Accounts at its meeting on 20 September 2021 and these have now been published.

Read the Audited 2020/21 Statement of Accounts (PDF, 1.7Mb)

Notice of Audit for the Year Ended 31 March 2021

Annual Statement of Accounts for previous financial years 

These are available on our Archived Statement of Accounts page

Annual Report from Section 73 Officer

As part of the annual review by Government each year, the lead Financial Officer is required to produce a written statement on the LEP’s financial management processes.

The Annual Assurance Statement – Section 73 Officer (PDF, 118kb) explains the measures that have been put in place over the last year to control and monitor LEP funding and expenditure.

Expenditure

Transport Revenue Budget

The Mayoral Combined Authority is responsible for approving the annual revenue budget prior to the start of the financial year within the Budget and Policy Framework. This includes setting the transport levy and estimating income and expenditure for the South Yorkshire Passenger Transport Executive (SYPTE).

Revenue and Capital Expenditure

As the accountable body for the Local Enterprise Partnership, the Mayoral Combined Authority also approves the LEP’s capital and revenue budget.

Capital Programme

The Mayoral Combined Authority is also responsible for agreeing an annual programme of capital expenditure, together with proposals for the financing of that programme. This includes schemes promoted by both the Mayoral Combined Authority and those directly managed by SYPTE.

South Yorkshire Mayoral Combined Authority Pay Grade Structure

Read the senior employee salary information for the current financial year - we're working on making these documents accessible and will add them when available

Grants Awarded

All schemes and projects seeking capital investment from the Sheffield City Region undergo a thorough appraisal to assess the merits of the application, its strategic fit and value for money. Projects which have progressed through the appraisal process are presented to the Mayoral Combined Authority Board for approval.

Items of Mayoral Combined Authority Expenditure over £250

As part of our commitment to be open and transparent, we publish information on all payments made to suppliers and organisations that have a value of more than £250 on a monthly basis. 

View Payments to Suppliers page.

Please note that our expenditure is categorised using the Proclass system. This means that each supplier has a defined category which they are assigned, but this does not necessarily mean this is what we are buying. This data is provided for free reuse, including commercial reuse. The right for further use is covered by the Open Government License, published by the National Archives and as recommended by HM Government Data.

Corporate Card Spend

We publish information on all payments made on corporate cards on a quarterly basis.

These payments are incorporated into the monthly payment listings of items of expenditure over £250 cross referenced “GPC”

Expenses and Member Allowances

The Mayor of the South Yorkshire Combined Authority receives an allowance of £79,000 per annum payable from 28 July 2020. A report, by an independent panel, recommending this level of remuneration was considered by the Combined Authority on 25 January 2021 and is available on our Committees and Meetings database website.

No remuneration is paid to the Leaders of the Constituent and Non-constituent members of the Mayoral Combined Authority Board, LEP Board or the elected and private sector members appointed to other committees established by the Combined Authority. The authority does however provide an allowance to two independent members of the Audit and Standards Committee. More detail regarding allowances can be found in our Constitution of the Combined Authority.

Members are entitled to claim back travel and subsistence costs incurred whilst undertaking duties and responsibilities on behalf of the Combined Authority or LEP and we publish quarterly reports on expenses claimed by members. 

Contracts Register

We are committed to publishing details of all contracts and agreements in place. This information is available in our Contracts Register spreadsheet document  updated November 2021 (xls, 71kb).