The Tyne & Wear Passenger Transport Authority (PTA) is a joint authority consisting of members from the five Tyne and Wear District Councils. It was established by the Local Government Act 1985 and acts as strategic and policy making authority on local transport issues within the area and also has direct responsibility for the Tyne Tunnels.

Section 73 of this Act states that “each new authority shall make arrangements for the proper administration of their financial affairs and shall secure that one of its officers has responsibility for the administration of those affairs”.

To this end, the PTA has in place procedures and protocols to ensure that its finances are safeguarded and wisely used. The primary source to ensure proper financial administration is the Financial Regulations document.

This regulates the framework for the financial administration of the Authority, with the aim of ensuring that the Authority’s financial affairs are conducted in a sound and proper manner, constitute value for money, and minimise the risk of legal challenge. However, the regulations are not intended to constitute a set of detailed rules to respond to every contingency.