Decision details

(1)       The latest update on the production of the statutory accounts was noted.

(2)       The financial position as at 31 March 2023 was noted.

(3)       The proposed transfers to earmarked reserves was approved.

(4)       The updates to the 2023/24 revenue budget were noted.

(5)       Authority was delegated to the s151 Officer and the Executive Director of Transport for West Midlands, in consultation with the Portfolio Lead for Transport, to submit a change request in respect of Bus Service Improvement Plan funds to allow them to be used to maintain existing services.

(6)       Authority was delegated to the s151 Officer to utilise the transport risk reserves as necessary to support the transport network, including £5m to support existing network services.

(7)       The continuation of payments of concessions to operators at pre-pandemic levels until 31 March 2024 was approved.

(8)       The rebased 2023/24 capital programme was approved.

(9)       The new grant awards to the WMCA, and the arrangements for these grants, were noted.

(10)     Authority was delegated to accept the funding to be provided to the WMCA following the Deeper Devolution Deal agreement, subject to the terms and conditions of those grants being to the satisfaction of the s151 Officer.

(11)     The intended use of the Department for Levelling Up, Housing & Communities’ capital funds of £25m to be awarded to WMCA, which would be subject to business cases progressing through the Single Assurance Framework in the normal way, was noted.

(12)     The financial position as at 31st March 2023 and the future project life forecast projections for West Midlands Cycle Hire were noted.

(13)     The receipt of funding totalling £3.6m for the West Midlands’ region for additional highways maintenance and pothole repair, announced within the Government’s 2023 Budget Statement was noted, and the allocation of this funding to relevant local authorities was endorsed.

(14)     Authority was delegated to the s.151 Officer and to the Executive Director of Transport for West Midlands, in consultation with the Portfolio Lead for Transport, and the three programme partners to enter into funding agreements for funding and outputs for the first gateway stage of the Very Light Rail project only, noting the terms and conditions were considered materially different from those approved by WMCA Board at its meeting on 13 January 2023.

(15)     Authority was delegated to the s151 Officer and Executive Director of Transport for West Midlands, in consultation with the Portfolio Lead for Transport, to enter into subsequent agreements for subsequent gateway stages at a later time, up to a total value of c. £36.8m (subject to any changes from the original board approval not being of a material nature).