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FINANCIAL INFORMATION AND EXPENDITURE

Financial Information

Financial Regulations

The Financial Regulations (PDF, 399kb) 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 2023/24 Annual Statement of Accounts represent the formal statutory financial accounts of the South Yorkshire Mayoral Combined Authority (MCA) prepared in accordance with the financial reporting rules applicable to local authority accounting. 

They represent the first set of annual accounts since the formal integration of the MCA and the South Yorkshire Passenger Transport Executive (SYPTE) on 1 April 2023.

The financial performance reported in the Statement of Accounts is based on the same underlying records as that presented in the Outturn Report presented to the MCA Board at its meeting on 4 June 2024 but presented in a different way. A reconciliation between the two formats is provided in the Narrative Report at the front of the Statement of Accounts.

The unaudited Statement of Accounts are now on deposit for a period of 30 working days from Monday 3 June to enable local electors to inspect the Annual Accounts and all books, deeds, contracts, bills, vouchers and receipts relating thereto. Local electors also have over the same 30 day period the right to ask the auditor any questions about the accounts. Further details on local elector rights and contact information is contained in the accompanying Notice of Audit.

The 2023/24 Annual Statement of Accounts will be audited in due course. The results of the audit will be considered by the Audit, Standards and Risk Committee and MCA Board before the Accounts are formally adopted.

Attention is drawn to the fact that the audit of the 2022/23 Annual Statement of Accounts has not yet concluded. The external auditors for 2022/23, EY LLP, have provided the following letters to explain the complex set of factors contributing to audit delays across the sector which are relevant to the delays in completing the audit of the 2022/23 Annual Statement of Accounts. 

The unaudited 2022/23 Annual Statement of Accounts (for both the MCA and SYPTE) can be found in the Archived Statement of Accounts page.

Revised 2022/23 Annual Statement of Accounts will be published in due course once the 2022/23 audit has concluded. 

Annual Statement of Accounts for previous financial years 

These are available on our Archived Statement of Accounts page. 

Annual Report from Section 73 Officer

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 (PDF, 118kb) explains the measures that have been put in place over the last year to control and monitor LEP funding and expenditure.

Expenditure

Transport Revenue Budget

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 Travel South Yorkshire (TSY).

Capital Programme

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 Travel South Yorkshire (TSY).

South Yorkshire Mayoral Combined Authority Pay Grade Structure

Read the senior employee salary information for the current financial year - we're working on making these documents accessible and will add them when available

Grants Awarded

All schemes and projects seeking capital investment from the South Yorkshire Mayoral Combined Authority 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.

Items of Mayoral Combined Authority Expenditure over £250

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 page.

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 South Yorkshire Combined Authority receives an allowance of £79,000 per annum payable from 28 July 2020. A report, by an independent panel, recommending this level of remuneration was considered by the Combined Authority on 25 January 2021 and is available on our Committees and Meetings database website.

No remuneration is paid to the Leaders of the Constituent and Non-constituent members of the Mayoral Combined Authority Board, elected 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 of the Combined Authority.

Members are entitled to claim back travel and subsistence costs incurred whilst undertaking duties and responsibilities on behalf of the Combined Authority and we publish quarterly reports on expenses claimed by members. 

Contracts Register

We are committed to publishing details of all contracts and agreements in place. This information is available in our Contracts Register spreadsheet (xlsx, 32kb)  updated March 2024.