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Middlesbrough Council Statement of Accounts 2019/20

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Middlesbrough Council Statement of Accounts 2019/20 Middlesbrough Council Statement of Accounts 2019/20 Big Weekend Music Festival Middlesbrough – May 2019 Contents 1. 2. 3. 4. 5. 6. 7. NARRATIVE CORE NOTES TO COLLECTION TEESSIDE ANNUAL GLOSSARY REPORT AND FINANCIAL THE FUND PENSION GOVERNANCE OF TERMS WRITTEN STATEMENTS ACCOUNTS FUND STATEMENT STATEMENTS Narrative Movement in Detailed Income and Pension Report Reserves Notes to Expenditure Fund Statement the Account Statement Accounts of Accounts Independent Comprehensive Notes to the Notes to Auditors report Income and Collection the – Expenditure Fund Pension Middlesbrough Statement Fund Council Independent Balance Sheet Auditors report – Teesside Pension Fund Statement of Cash Flow Responsibilities Statement Middlesbrough Council Statement of Responsibilities – Teesside Pension Fund Page 02 Page 29 Page 35 Page 97 Page 101 Page 139 Page 162 The Statement of Accounts for Middlesbrough Council provides an overview of the Council’s financial position at 31 March 2020 and a summary of its income and expenditure during the 2019/2020 financial year. The accounts are, in parts, technical and complex as they have been prepared to comply with the requirements of the Chartered Institute of Public Finance and Accountancy (CIPFA) as prescribed by the Code of Practice on Local Authority Accounting in the United Kingdom, and International Financial Reporting Standards. The accounts are available on the Council’s website: www.middlesbrough.gov.uk under Statement of Accounts. The Council’s Corporate Affairs and Audit Committee will consider the Accounts for approval on 26 November 2020. The External Auditor’s Report to the Committee will confirm whether the accounts provide a true and fair view of the Council’s financial position and transactions and any issues or amendments made as part of the audit process. Middlesbrough Council Statement of Accounts 2019-20 Page | 1 1. Narrative Report Albert Park Lake Middlesbrough Council Statement of Accounts 2019-20 Page | 2 Narrative Report Review of the Year Middlesbrough Council is a large and diverse public sector organisation. The aim of this Narrative Report is to provide both guidance and context to the accounts, presenting a summary of the Council’s financial position, financial performance, and non-financial activities for the year, its prospects for future years and briefly explaining the key accounting statements. A separate summary of accounts document is also available this financial year to ensure that the information in the Statement of Accounts is as accessible as possible, which is available via the Council’s website (www.middlesbrough.gov.uk). At 31st March 2020, the United Kingdom was in the early stages of an unprecedented public health pandemic due to Covid-19. Although most of the long-term effects of the virus and a return to normal are at present unknown and will affect predominantly future financial years the narrative report and the Statement of Accounts will aim to give some context as to its early stages and the impact on the Council’s financial position. Background to the Council Middlesbrough Council came into existence following the abolition of Cleveland County Council in 1996. It is a unitary local authority providing a range of services to the people of Middlesbrough. The Council works with local residents, businesses, public sector partners and the voluntary and community sector to improve local social, economic and environmental wellbeing for all and to secure the long-term sustainability of the town. It is one of the largest employers in the Tees Valley area, providing work for more than 3,400 people. Population and Related Economic Statistics COMPOSITION OF MIDDLEBROUGH POPULATION (140,980) 0 - 15 Years 29,725 65 and Over 23,098 21.08% 16.38% 16 - 64 Years 88,157 62.53% Source: Office of National Statistics Mid-Year Estimates 2019 Middlesbrough Council Statement of Accounts 2019-20 Page | 3 The composition of the local population drives the focus of the services provided by the Council most notably through increasing demand for Children’s and Adult Social Care. Economic data from Nomis Official Labour Market Statistics for the period January 2019– December 2019 shows the following: Middlesbrough North Great East Britain Gross Weekly Pay (Median) £480.30 £511.60 £571.10 Unemployment rate (16 – 64) (as 7.4% 5.3% 4.2% proportion of economically active) The Council’s various strategies are set around meeting the needs of its residents driven by the demographic profile of the town. Political Structure in 2019/20 The local government elections of May 2019 created real change in the town as it was the first time since its creation in 1996 that the Labour Party has not held control at the Council. This financial year is also the first under the leadership of the new independent Mayor, Andy Preston, who has developed a new Strategic Plan and ambitions for the Town, supported by Executive Members The Executive is the Council's principal decision making body, considering significant issues in connection with, for example, community safety, leisure, education, social services, highways and the environment as well as making recommendations to Council on the annual revenue budget and investment strategy. The Council had an independent led administration during most of 2019/20 with Labour managing the Overview and Scrutiny Board which scrutinises the work of the Executive. Meetings of the Executive took place every four weeks chaired by the Mayor with each member of the Executive having designated responsibilities (known as portfolios) until mid-March and the Covid-19 pandemic and subsequent national lockdown. Virtual meetings started again in June 2020. Middlesbrough Council consists of 20 wards with between one and three Councillors representing each ward. All councillors serve a maximum four-year term. The political make-up of the Council at 31 March 2020 was: Elected Members 47 Mayor Andy Preston (Independent) 1 Middlesbrough Independent Councillor’s Association 15 Middlesbrough Independent Group 8 Labour 20 Conservative 3 2019/20 has been a transitional year for the Council with the Strategic Plan, Budgets and Medium Term Financial Plan developed and set by the outgoing Labour administration. However during the year the new Mayor and Executive have started to set out and shape their vision and priorities for the next four years with a new Strategic Plan being approved by the Council in January 2020, replacing the previously separate Vision (2020-25) and Strategic Plan (2020-2023). Middlesbrough Council Statement of Accounts 2019-20 Page | 4 Management Structure Leadership Team The management structure at 31st March 2020 is set out below: Chief Executive Strategic Director of Director of Adult Executive Director Finance, Governance Executive Director of Director of Legal & Social Care and Health Growth & Place and Support (S151 Children's Services Governance Services Integration Officer) Director of Director of Children's Environment and Director of Public Health Care Commercial Services Director of Director of Education Regeneration & Partnerships Director of Business, Performance and Change The Strategic Director of Finance, Governance and Support left the Council in June 2020 and was replaced by a new Director of Finance post in August 2020 following a management review by the Chief Executive. The Mayor’s Ambitions for Middlesbrough and the Strategic Plan: Andy Preston is the Mayor of Middlesbrough for the period 2019-2023. Although Mayor Preston was the leader of the Council for most of the 2019/20 financial year, the Strategic Plan (2020-2023), which includes his key priorities, was not formally approved by the Council until 15 January 2020. This section will initially concentrate on performance against the previous Strategic Plan that was reported on to the Executive until the third quarter of this financial year, with some later comments on the development and delivery against the new strategic plan. Up until January 2020 the Council’s approach to delivering the Mayor’s Vision crystallised around three strategic themes Business Imperatives – Ensuring that the Council operates efficiently and effectively so that Physical and Social Regeneration outcomes are maximised. Physical Regeneration – Investing in Middlesbrough to provide and improve facilities, which act to increase the town’s reputation, create social opportunity and improve the Council’s finances. Social Regeneration – Working with our communities and other public service organisations to improve the lives of Middlesbrough’s residents. From January onwards this changed to People. Place and Business in the revised Strategic Plan (2020-23): Middlesbrough Council Statement of Accounts 2019-20 Page | 5 People – Working with communities and other public services to improve the lives of our residents Place – Securing improvements in Middlesbrough’s housing, infrastructure and attractiveness, improving the town’s reputation, creating opportunities for local people and improving our finances. Business – Promoting investment in Middlesbrough’s economy and making sure we work as effectively as possible to support our ambitions for People and Place. This Plan is the Council’s overarching business framework, outlining the Council’s contribution to the Mayor’s priorities is articulated within this plan. There is a ‘golden thread’ which runs from this document through the rest of the Council’s governance and policy frameworks.. Progress against the plan is reviewed on a quarterly basis and reported to Executive and Overview and Scrutiny Board. Strategic Plan This Strategic Plan is designed to: Set out the Mayor’s priorities for Middlesbrough; and the Council’s overarching business plan for the medium term.. Investment Strategy for Middlesbrough An update of the Medium Term Financial Plan (MTFP) was presented to Council on 4 March 2019 the report included the £166.1 million Investment Strategy for Middlesbrough for the period to 2021/2022, supported by £105.4 million of the Council’s own resources, an update of which was agreed by Council on 5 December 2018. This strategy is intended to attract a total of over £700 million of third party investment into the town and its infrastructure.
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