Issue - meetings

The financial position as at the end of January 2018 was noted.

Councillor Izzi Seccombe presented a report setting out the financial position of the WMCA as at the end of January 2018. The report summarised the revenue and capital financial positions against the approved budget, the Investment Programme and balance sheet. The overall consolidated revenue position showed a £5.2m favourable variance from budget, which was largely within the transport revenue budget where there was a £4.8m previously reported saving as a result of a change in the Minimum Revenue provision policy.

Councillor Izzi Seccombe noted that as part of the budget, the WMCA confirmed the adoption of the previous Centro pay policy in operation since 2012 that ensured staff were paid above the UK real living wage, subject to an annual review of affordability.

Resolved:

The financial position as at the end of January 2018 be noted.