The Financial Regulations 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 SCR Group’s financial performance in terms of its 2019/20 revenue and capital outturn position was reported to the Mayoral Combined Authority (MCA) on 1 June 2020.
The 2019/20 Annual Statement of Accounts represent the Authority and SCR 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 2019/20 Annual Statement of Accounts were considered by Audit & Standards Committee on 11 June. Following external audit and public inspection the audited Statement of Accounts were approved by the Mayoral Combined Authority on 16 November.
The audited Statement of Accounts can be found here.
- Notice of Audit for the Year Ended 31 March 2020
- Independent Audit Certificate (to be added on conclusion of the audit)
You can also download the Annual Statement of Accounts for previous financial years here
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 explains the measures that have been put in place over the last year to control and monitor LEP funding and expenditure.
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).
As the accountable body for the Local Enterprise Partnership, the Mayoral Combined Authority also approves the LEP’s capital and revenue budget.
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.
Sheffield City Region Pay Grade Structure
Click here for the senior employee salary information for the current financial year.
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.
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
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 Sheffield City Region Combined Authority receives an allowance of £79,000 per annum payable from 28th July 2020. A report, by an independent panel, recommending this level of remuneration was considered by the Combined Authority on 25th January 2021 and is available here.
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.
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. You can view the Quarterly Expenses Reports here.
We are committed to publishing details of all contracts and agreements in place. This information can be found by following the link here.