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WMCA Annual Business Plan 2022 – 2023

Financial Position - 2022/2023 Revenue Budget Analysis

2022/23 Transport expenditure is to be funded by £117.0m of Transport Levy, which WMCA receive from its constituent members, £4.5m of Business Rates and £3.6m of WMCA’s existing Reserves. The Transport Levy has been increased by 2% (£2.3m) from 2021/22, having previously remained flat for five years.

Also within Transport, WMCA will receive a grant of £18.7m from the 2022 Commonwealth Games Organ- ising Committee in order to support the delivery of the Games.

2022/23 Non-Transport expenditure includes WMCA’s devolved funding in order to deliver Adult Education throughout the region, as part of our Productivity & Skills portfolio. The remaining expenditure in the area includes WMCA’s Economy & Innovation, Culture & Digital, Well- being, PSR & Social Economy, Environment and Inclu- sive Communities portfolios, as well as revenue costs of delivering our Housing & Land Capital Programme.

The Investment Programme and Mayor’s Office Budg- ets are in line with prior years and include the receipt of Devolution Deal grants. A gainshare grant of £36.5m will be used to deliver the Capital projects within the Investment Programme, whilst a £0.8m Mayoral Capac- ity Funding grant supports the operation of the Mayoral Office.

WMCA have committed to working with Constituent Authorities throughout 2022 to develop a longer-term, sustainable budget and plan, building on the work to develop the 2022/23 Aims and Objectives.

 

AEB Grant - £140.6m

  • 41.2%

Levy - £117.0m

  • 34.3%

Devolution Deal Grant - £36.5m

  • 10.7%

Other devolution grants - £7.6m

  • 2.2%

Business Rates Growth - £10.5m

  • 3.1%

Constituent Fees - £4.6m

  • 1.3%

Use of Reserves - £3.6m

  • 1.1%

Investment Income - £0.9m

  • 0.3%

Non Constituent Fees - £0.5m

  • 0.1%

Other - £19.2m (inc 18.7m CWG) 

  • 5.6%

Financial Position 2022/23 Capital Programme

The West Midlands Combined Authority Capital Programme is summarised in these tables highlighting the current planned capital investment between 2021/22 and 2025/26. This position represents the latest 2021/22 reforecast, the final 2022/23 Capital Budget will be presented to WMCA Board at the earliest opportunity in 2022/23 following confirmationof the 2021/22 outturn position. It should also be noted that this view does not include any allocation of the recently awarded City Regional Sustainable Transport Settlement (CRSTS) funding.

Revenue Backed Debt - IP £871m (40%)

  • Investment Programme (£871m)

 

DfT Transport Grants - £681m (31%)

  • Transforming Cities Grant (£320m)
  • Metro Eastside (£131m)
  • Sprint Grant (£35m)

 

Income Backed Debt - £226m (10%)

  • WBHE (£141m)
  • Metro Eastside (£58m)

 

Land Fund Grants - £208m (10%)

  • Devo 2 Land Fund (£100m)
  • Brownfield Grant (£84m)
  • Additional Brownfield (£24m)

 

Other Grants - £169m (8%)

  • Get Britain Building (£74m)
  • University Station (£28m)
  • 5G (£25m)

 

Administered Grants £32m (1%)

  • National Productivity Fund (£17m)
  • New Bridges Funding (£15m)