Agenda and minutes

Apologies for absence were received from Nick Bensted-Smith, Chris Boden, Mark Bostock, Alderman Timothy Hailes, Chris Hayward, Deputy Clare James, Tim Levene, William Pimlott, Ian Seaton, Deputy Philip Woodhouse, Sir Mark Boleat and Deputy Catherine McGuiness.

There were no declarations of interest.

To agree the public minutes and non-public summary of the meeting held on 25 July 2017.

RESOLVED – That the public minutes and non-public summary of the meeting held on 25 July 2017 be approved. 

Report of the Town Clerk.

The Committee received a report of the Town Clerk which set out outstanding actions from previous meetings of the Committee. Members agreed that the following items could be removed as they had been actioned or were being followed up by the sub committees:

·         Central London Forward CESI Programme

·         2016/17 City Fund and Pension Fund and Bridge House Estates Financial Statements

RESOLVED – That the Committee notes the report.

Report of the Town Clerk.

The Committee considered a report of the Town Clerk which advised Members of the key discussions which had taken place during recent meetings of the Committee’s Sub-Committees, as follows:

-           Finance Grants Oversight and Performance Sub-Committee held on 25th

            July; and

-           Information Technology Sub-Committee held on 14th July.

RESOLVED – That the report be noted

To note the draft minutes of the following Sub-Committee meetings:

The Committee received the draft public minutes and non-public summary of the following Sub-Committee meetings:

-        Finance Grants Oversight and Performance Sub-Committee held on 25^th July 2017; and

-        Information Technology Sub-Committee held on 14^th July 2017.

RESOLVED: –

-       That the draft public minutes and non-public summary of the Finance Grants Sub-Committee meeting on 25^th July be noted

-       That the draft public minutes and non-public summary of the Information Technology Sub-Committee meeting on 14^th July be noted

RESOLVED – That the public minutes and non-public summary of the Finance Grants Sub-Committee meeting held on 25^th July be noted.

RESOLVED – That the public minutes and non-public summary of the Information Systems Sub-Committee meeting held on 14^th July 2017 be noted.

Report of the Chamberlain.  

Members received a report of the Chamberlain which provided updates regarding the top risks within the Departmental Risk Register

RESOLVED – That the report be noted.

Report of the Chamberlain.

Members received a report of the Chamberlain which provided an update on the work of the IT Division and the key areas of progress since April 2017. Members noted an error in that appendix B was not included alongside the report - this was a drafting error, appendix B was part of an earlier iteration of the report that was subsequently abandoned. 

RESOLVED- That the report, with the above amendment, be noted.

Report of the Chamberlain.

Members received a report of the Chamberlain which compared the revenue outturn for the operational services overseen by the Committee in 2016/17 with the budget for the year.

In response to a question about carry forwards, the Chairman advised that he challenged these when appropriate.  Members were reminded of the procedure for approving carry forwards and that Town Clerks should be asked for further information about both the limit on carry forwards and the criteria used.     

RESOLVED - that the revenue outturn for 2016/17 and local risk budgets totalling £620,000  (to be carried forward to 2017/18) and a central risk carry forward of £819,000 (as set out in Appendix 2) be noted.

Report of the Chamberlain.

Members received a report by the Chamberlain on details of the 2016/17 outturn for capital and supplementary revenue projects (SRPs) together with the Prudential Indicators for the City Fund.

RESOLVED- That the report be noted.

Report of the Chamberlain.

Members received a report of the Chamberlain which provided Members with information regarding the uncommitted balances of the 2017/18 Contingencies.

RESOLVED – that the report be noted.

Joint report of the Chamberlain and Remembrancer.

Members considered a report of the Chamberlain and the Remembrancer in respect of a pilot scheme for business rates devolution in London.  Members noted that London Councils was seeking an ‘in principle’ view from its constituent authorities and the report was also due to be considered by the Policy and Resources Committee on 21 September 2017.

During the debate and questions on this item, the following points were highlighted:

• Members asked for assurance that any proposals for a longer term commitment come back to them for decision, with an analysis of the benefits and risks;
• Would a 2 year pilot scheme be preferable? i.e. allowing an evaluation after 1 year;
• Members were reassured that no penalties would be incurred during the initial pilot, consistent with the ‘no detriment’ clause;
• Members noted that the pilot would only apply to growth in business rates and that there were no implications for the method of base allocation within the London region;
• The City of London Corporation stood to gain between £10-20m in 2018/19, should the pilot proceed.

In concluding, the Chairman asked for a note of the above debate to be included in the Finance Committee’s Resolution to the Policy and Resources Committee.

RESOLVED, that – the Finance Committee endorse the following recommendation to the Policy and Resources Committee:

The Policy and Resources Committee authorise the Chairman (or her representative), at the next meeting of the London Councils Congress of Leaders, to:

1.    express ‘in principle’ support for the rates retention pilot scheme set out in London Councils’ Draft Prospectus, on condition that the final arrangements include sufficient protection for the position of the City Corporation, so that revenue attributable to the City Premium, the City Offset and the City’s formula allocation are unaffected and remain under the City’s control;

2.    support

Report of the Chamberlain.

Members considered a report of the Chamberlain on a proposed scheme for the City Corporation’s distribution of its share of the discretionary fund announced in the government's spring budget to City businesses.

RESOLVED, that:

· That consultation takes place on the proposed scheme;

· Authority be delegated to the Chamberlain as the Section 151 Officer to

approve the final scheme following the consultation.

Report of the Chamberlain.

Members were asked to note a report from the Chamberlain on the impact of the Responsible Procurement Strategy after 12 months.

RESOLVED - that the report be noted.

Report of the Chamberlain.

Members considered a report of the Chamberlain on the Supplier Health and Safety Appraisals.  

Members noted that this report was before the Committee as there would be cost implications for some suppliers; there was, however, a general agreement that, as this decision sought an incremental and not a fundamental change in policy, officers should consider an amendment to their Scheme of Delegation, to avoid the need for taking this and similar reports to Committees. 

RESOLVED – that the Safety Schemes in Procurement Accreditation be approved as a requirement for suppliers delivering goods, works and service contracts that have health and safety implications.

Report of the Chamberlain.

Members considered a report of the Chamberlain on the accounting treatment for the City of London Corporation’s Social Investment Fund.

RESOLVED - That:

1.         The designation of the net value of distributed income, alongside gains and losses on divestment/maturity and the returned underlying capital to the SI Fund, be approved.

2.         The transfer of the cumulative impact of all distributed income to date, from inception of the fund from the BHE General Unrestricted Fund and designated against the SI Fund (being a £0.55m adjustment), be approved.

3.         The reinvestment of any additional balances, that are designated to the SI Fund in line with its’ previously agreed purposes, be approved.

Report of the Director of Community and Children’s Services.

Members considered a report of the Director of Community and Children’s Services on financial support with major works for leaseholders.  Members noted that Option 21c had been approved by the Community and Children’s Services Committee last week.

The Assistant Director (Community and Children’s Services) explained how this type of interest-free scheme was very common and the proposal before Members was to change the upper and lower limits of the scheme.  

Members noted that, although the rates for the mandatory schemes are prescribed by the Housing Act, the City of London Corporation has some flexibility over the rates for discretionary loans. Members noted that, whilst the option before them, at 21c in the report, would have a marginal impact on the HRA, the proposal also recognised the new demands on Leaseholders as part of the Five Year Major Works Programme and reflected a sensible balance between the City’s competing duties and powers.  Members also noted the merits on keeping the scheme as simple as possible to avoid unnecessary administration costs.

Members noted that the works to Great Arthur House would be finished at the end of the year and were sympathetic to the difficulties experienced by tenants during this project. 

RESOLVED – That the maximum threshold for the discretionary scheme be increased to £72,500 with an interest-free period of three years.

Report of the Town Clerk.

The Committee received a report of the Town Clerk which provided information of the action taken by the Town Clerk since the last meeting of the Committee, in consultation with the Chairman and Deputy Chairman, in accordance with Standing Orders 41(a) and 41(b). The decision related to the granting of a donation to the sum of £25,000 to the British Red Cross’ South Asia Floods appeal.

RESOLVED – That the report be noted.

There were no questions.

The following items of urgent business were raised –

-       The Committee noted a further delegated decision in respect of a donation in the sum of £25,000 to the British Red Cross’ Emergency Appeal in the aftermath of Hurricane Irma, to be drawn from the City Cash Contingency Fund for National & International Disasters. As this decision had been approved the previous day, the Chairman agreed that Members be notified at today’s meeting of the Finance Committee.

-       The Committee noted that October Finance Committee would be cancelled.  The next meeting of the Committee would take place on 21^st November.

MOTION - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of Schedule 12A of the Local Government Act.

RESOLVED - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of Schedule 12A of the Local Government Act.

To agree the non-public minutes of the meeting held on 25 July 2017.

The non-public minutes of the meeting held on 25^th July were approved as an accurate record.

Report of the Town Clerk.

The Committee noted a report of the Town Clerk which set out outstanding actions from previous non-public minutes of the Committee.

Report of the Town Clerk.

The Committee noted a report of the Town Clerk which advised Members of the key discussions which had taken place during non-public session at recent meetings of the Committee’s Sub-Committees, as follows:

-           Finance Grants Oversight and Performance Sub-Committee held on 25^th

            July; and

-           Information Technology Sub-Committee held on 14th July.

To note the draft non-public minutes of the following Sub-Committee meetings:

The non-public minutes of the Information Technology Sub-Committee meeting held on 14^th July 2017 were noted.

The non-public minutes of the Finance Grants Sub-Committee meeting held on 25 July 2017 were noted.

Report of the City Surveyor.

Members received a report of the City Surveyor.

Report of the Director of Public Relations

Members received a report from the Director of Communications, Town Clerk’s Department.

Report of the Chamberlain.

Members received a report of the Chamberlain.

Report of the Chamberlain.

Members received a report from the Chamberlain.

Report of the Commissioner, City of London Police.

Members received a report of the Commissioner, City of London Police

Joint report of the Comptroller and City Solicitor and the City Surveyor. 

Members received a report from the Comptroller and City Solicitor and the City Surveyor.

Report of the Chamberlain.

Members noted a report of the Chamberlain.

Report of the Chamberlain and City Surveyor, on behalf of the Facilities Services Category Board.

Members received a report of the Chamberlain.

Report of the Chamberlain.

Members considered a report from the Chamberlain.

Report of the Chamberlain and Comptroller and City Solicitor.

Members considered a joint report of the Chamberlain and the Comptroller and City Solicitor.

Report of the Town Clerk.

Members noted one report of the Town Clerk detailing a non-public decision taken under delegated authority procedures since the last meeting.

There were no non-public questions relating to the work of the Committee.

Members considered one item of urgent business.