Monmouthshire County 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 Auditor General's audit certificate drew attention to uncertainties disclosed by the Council over the valuation of land and buildings, investment properties and pension fund assets arising from the COVID-19 pandemic.
The Council's usable reserves have remained stable at £18.1 million at 31 March 2020, with a £1.8 million increase in the general Council Fund (excluding School balances) offset by a similar reduction in other usable reserves.
Two one-off factors played a key role in allowing the Council to maintain its usable reserves at £18.1 million this year: - capitalisation of £3.2 million of expenditure (under WG guidance on the flexible use of capital receipts); and - receipt of £2.3 million due to the Council from HMRC following the 'Ealing' judgement on the VAT status of leisure service expenditure.
Monmouthshire County Council is the only Local Authority in Wales to receive the largest proportion of its funding through Council Tax.
These accounts include the Council's share of interests arising from the Cardiff Capital Region City Deal.

Funding and Spending

£-42 million surplus income
How is the Council funded?
£272.9 Million
Main groupings of income
Amount of income in particular area
How much has Monmouthshire County Council spent?
£314.9 Million
Total: £314.9 Million
A breakdown of the Total Other column in the above chart:
Total Other £ Million
Children & Young People £73.3 Million
Social Care & Health £71.7 Million
Enterprise £63.3 Million
Resources £40.9 Million
Precepts & Levies £19.1 Million
Financing & investment income and expenditure £17.1 Million
Chief Executives Unit £6.6 Million
Corporate £3.6 Million
Gain on disposals of non-current assets £0.3 Million
Cardiff Capital Region City Deal £0.2 Million
Total: £18.8 Million

Staff

Staff Costs £120.9 Million
Wage variances
Number of employees whose remuneration is over £60,000 per annum 49
Median remuneration £22
Highest paid Director £116
Ratio between the Council’s highest paid employee and the median position 5.1:1
Termination
Termination - number 78
Termination - value 1,678,000

What they own

£460.8 Million
Total Assets£460.8 Million
Property, Plant and Equipment£330.2 Million
Investment Property£63.4 Million
Debtors £31.5 Million
Cash and Cash Equivalents£22.4 Million
Investments£5.7 Million
Heritage assets£4.8 Million
Assets held for sale£2.1 Million
Intangible assets£0.2 Million
Inventories£0.5 Million
Property, Plant and Equipment Breakdown

What they owe

£460.5 Million

Borrowing - long term

£92.6 Million

Borrowing - short term

£95.1 Million