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.
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?
Main groupings of income
Amount of income in particular area
How much has Monmouthshire County Council spent?
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|
|Precepts & Levies||£19.1 Million|
|Financing & investment income and expenditure||£17.1 Million|
|Chief Executives Unit||£6.6 Million|
|Gain on disposals of non-current assets||£0.3 Million|
|Cardiff Capital Region City Deal||£0.2 Million|
Total: £18.8 Million
StaffStaff Costs £120.9 Million
|Number of employees whose remuneration is over £60,000 per annum||49|
|Highest paid Director||£116|
|Ratio between the Council’s highest paid employee and the median position||5.1:1|
|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|
|Cash and Cash Equivalents||£22.4 Million|
|Heritage assets||£4.8 Million|
|Assets held for sale||£2.1 Million|
|Intangible assets||£0.2 Million|
Property, Plant and Equipment Breakdown
What they owe£460.5 Million
Borrowing - long term
Borrowing - short term