Sheffield City Region Local Enterprise Partnership

Combined Authority and Local Enterprise Partnership Budget

Published 21st December 2017 at 12:46pm

The CA is responsible for approving the annual revenue budget of the Authority prior to the start of the financial year within the Budget and Policy Framework, including setting the transport levy and estimates for the income and expenditure of the South Yorkshire Passenger Transport Executive (SYPTE). As the accountable body for the Local Enterprise Partnership The Combined Authority also approves the LEP’s capital and revenue budget.

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

In year monitoring of financial performance is reported quarterly to ensure that the overall spending of the Authority is within available resources. This culminates in an overall Revenue out-turn position including details of reserves, balances and provisions held by the Authority reported as soon as practical after the end of the financial year.