Social Value Ideas for West Midlands Combined Authority

Outstanding accounts to close

The finance team and external auditors reported that the 2022/23 accounts are close to finalisation, with the remaining issue being the pension fund accounting adjustment and grant query responses. Pu…

“the finance team have completed the outstanding work in consultation with the pension fund actory and the final version of the audited accounts for th…”

Accounts approved with caveats

The committee considered the 2022/23 annual accounts and audit findings, but quorum issues meant it could only recommend approval to the WMCA Board rather than formally approve them. A pension asset v…

“so there are two outstanding matters so we're aiming to get that that work finalized this side of Christmas but clearly we the accounts won't be appro…”

Treasury rules tightened after press criticism

Following press coverage of loans/deposits with Woking and concerns raised about local authorities in financial distress, the finance director tightened treasury practice. Forward dealing with local a…

“the three loans that um or the cash deposits that went out to woking um were um were awarded there was three loans because it was um there were of dif…”

Annual accounts approved for signing

The committee agreed to approve the annual accounts, accept the latest Grant Thornton update, and authorise signature of the letter of representation and final accounts. The auditor indicated an unqua…

“we've had we've done well with attendance till the last meeting so uh but it did feel worthwhile trying to get this done so we can go to the board hop…”

Approve A45 junction funding

The board approved release of up to £16.4 million for A45 Coventry Road and Ason Parkway junction improvements, with a possible £100,000 contribution from the airport. Officers said the project is at …

“Um this paper is for the approval of um the full business case for the A45 Common Road ASON Parkway uh junction improvements. Um and based on an indep…”

A4123 corridor FBC funding approved

The board approved a £6.9 million drawdown from CRSTS funding to prepare the full business case for the A4123 walk, cycle and bus measures scheme. The spend covers full business case preparation, deta…

“Good morning, chair, and thank you for accommodating. Apologies for not being there in person this morning, but I'm at Wolverampton for the growth pla…”

Longbridge Park and Ride contract issue

A high-risk audit recommendation on Longbridge Park and Ride remains unresolved because the authority still needs evidence of the contract approval. Management said the matter should be completed with…

“"the Longbridge park and ride and there's a high risk recommendation on that um it was supposed to be sorted think September 24 but it's still there u…”

Bus subsidy pressure

The budget discussion highlighted increasing pressure on subsidised bus services, driven by commercial route decline, inflation and rising operating costs. The authority expects to continue relying on…

“one of the things we are seeing from a transport perspective is that increasing pressure on the subsidized Buzz Services budget which is as we are in …”

Legacy Fund spend progress

The committee received a detailed update on the Commonwealth Games Legacy Enhancement Fund, covering how funding is being deployed across inclusive communities, social economy, major events, jobs and …

“great news is that um now the funding is starting to flow and uh many of the programs as you can see in the report um have started to um act and so th…”

UK SPF underspend reallocations

The committee heard that the West Midlands secured £88m UK Shared Prosperity Fund, but year-by-year government contracting and delays created a risk of underspend and return of funds. WMCA has agreed …

“So within the region we secured 88 million for UK share Prosperity fund this was the replacement to um the European technical sort of erf funds that w…”

West Midlands Growth Company extension

The board considered and approved a £7.25m change request for the West Midlands Growth Company to continue for an additional year in 2025/26 as a transitional arrangement before a new economic develop…

“this is a change request to the current 2-year Global West Midlands program in particular extends that program for an additional year to 20 2526 and t…”