Merthyr Tydfil County Borough Council

The Auditor General for Wales' opinion is that the financial statements give a TRUE and FAIR view of the Council's finances.

Highlights

The Council incurred unbudgeted costs of £0.25m relating to the flooding and storm damage caused by Storm Dennis during February 2020.
The Auditor General's opinion drew attention to potential uncertainties due to the COVID-19 pandemic in the valuation of Council's property assets and also the property investment funds which are part of the pension fund liability balance.
The Council invested an additional £12.8m in Capital Expenditure in 2019-20, with the majority of this being funded by Government Grants and Contributions. The biggest single item of investment was £4.6m for the Merthyr Bus Station re-development.
The Council operated with a surplus of £2.2m as per the Comprehensive Income and Expenditure Statement and set a balanced budget for 2020-21. However, the Council's future financial sustainability is challenging, with a £3.6m budget deficit forecast for 2021-22, increasing to £9.9m over the 4 year period covered by the medium term financial plan, based on a prudent projected Revenue Settlement of +2% per annum.

Funding and Spending

£-16.9 million surplus income
How is the Council funded?
£187.7 Million
Main groupings of income
Amount of income in particular area
How much has Merthyr Tydfil County Borough Council spent?
£204.6 Million
Total: £204.6 Million
A breakdown of the Total Other column in the above chart:
Total Other £ Million
Employee costs £83.6 Million
Other service expenses £89 Million
Depreciation, amorisation and impairment £7.6 Million
Interest payments £4.4 Million
Precepts and levies £7.7 Million
Gain on disposal of non-current assets £-0.5 Million
Gain on disposal of investment property £0 Million
Total: £12.8 Million

Staff

Staff Costs £76 Million
Wage variances
Number of employees whose remuneration is over £60,000 per annum 38
Median remuneration £21,589
Highest paid Director £114,908
Ratio between the Council’s highest paid employee and the median position 5.32:1
Termination
Termination - number 27
Termination - value 961,000

What they own

£310.7 Million
Total Assets£310.7 Million
Property, Plant and Equipment£260.8 Million
Heritage Assets£7.3 Million
Investment Property£0 Million
Debtors £26.9 Million
Long Term Investments£0 Million
Short Term Investments£10 Million
Cash and Cash Equivalents£5.3 Million
Other Assets £0.4 Million
Property, Plant and Equipment Breakdown

What they owe

£327.5 Million

Borrowing - long term

£56.4 Million

Borrowing - short term

£54.6 Million