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.
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?
Main groupings of income
Amount of income in particular area
How much has Merthyr Tydfil County Borough Council spent?
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
StaffStaff Costs £76 Million
|Number of employees whose remuneration is over £60,000 per annum||38|
|Highest paid Director||£114,908|
|Ratio between the Council’s highest paid employee and the median position||5.32:1|
|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|
|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
Borrowing - short term