Decision details

(1)      The WMCA’s consolidated revenue budget was approved, including:

(a)      the budget requirement for transport delivery 2022/23 comprising four elements:

(i)       £117.0m to be funded from the existing transport levy mechanism;

(ii)       £18.7m to be funded from grant awarded by the Commonwealth Games Organising Committee;

(iii)      use of £4.5m Business Rates retention income;

(iv)      a transfer from earmarked reserves of £3.6 million.

(b)      the WMCA delivery (non-transport) budget requirement for 2022/23 of £161.9m comprising of six elements:

(i)       £142.7m adult education spending to be funded from adult education budget funding devolved by the Department for Education;

(ii)       £6.7m to be funded from other devolution deal grants;

(iii)      £1.2m to be funded from other income, notably investments;

(iv)      £4.6m to be funded from constituent member fees (fees to remain at the same level as 2021/22);

(v)      £0.5m to be funded from non-constituent member and observer fees (which represented an increase of £5,000 a year per non-constituent member from 1 April 2022, observer fees to remain at the same level as 2021/22);

(vi)      use of £6.0m business rates retention income.

(2)      The Mayoral Office budget for 2022/23 of £0.8m, to be funded from additional mayoral capacity funding of £0.8m, was approved.

(3)      The first year (2022/23) of the indicative WMCA capital programme was approved, noting the indicative onward programme thereafter.

(4)      It was noted that there would be no mayoral precept during 2022/23.

(5)      The WMCA’s commitment to work with the Mayor and leaders to develop a long-term, sustainable budget and plan throughout 2022, building on the 2022/23 agreed Aims & Objectives and a sustainable financial plan was noted.

(6)      The matters identified by Overview & Scrutiny Committee that arose out of the Mayoral Q&A on 15 December 2021 were noted.

(7)      Authority was delegated to the Director of Finance, in consultation with the Portfolio Lead for Finance, to make any final changes that might result from the final Local Government Finance Settlement.

(8)      The following policies and strategies, which contained items as required by statute, were approved:

(a)      the WMCA Treasury Management Strategy;

(b)      the WMCA Capital Strategy and Minimum Revenue Provision Statement; and

(c)      the WMCA Pay Policy Statement.