Agenda and minutes

Apologies for absence were received from Mark Bostock, Karina Dostalova, Caroline Haines, Gregory Lawrence, Tim Levene, Oliver Lodge, James de Sausmarez, Sir Michael Snyder, Deputy James Thomson and Philip Woodhouse.

There were no declarations of interest.

To agree the public minutes of the meeting held on 23^rd January 2018.

RESOLVED – That the public minutes of the meeting held on 23^rd January be approved as an accurate record.

Report of the Town Clerk.

Members received a report of the Town Clerk which set out outstanding actions from previous meetings of the Committee.

RESOLVED – that Members noted the report.

Report of the Town Clerk.

Members received 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.

RESOLVED – that Members noted the report.

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

Members noted the draft public minutes of the following Sub-Committee meetings:

-       Joint Meeting of the Resource Allocation and Efficiency & Performance Sub-Committees on 18th January;

-       Efficiency and Performance Sub-Committee held on 30^th January 2018

RESOLVED – That the public minutes of the Efficiency & Performance Sub-Committee meeting held on 30 January 2018 be noted.

RESOLVED – That the public minutes of the Joint Resource Allocation and Efficiency & Performance Sub-Committee meeting held on 18 January 2018 be noted.

Report of The Chamberlain.

Members received a Report of the Chamberlain concerning irrecoverable non-domestic rates and council tax.

RESOLVED – that Members approved the following:

·         Approve the write-off of irrecoverable non-domestic rates in the sum of £1,359,478 noting that £389,593 will be met by the City Corporation and £11,483 from the premium

·         Approve the write-off of irrecoverable council tax in the sum of £4,087.

Report of The Chamberlain.

Members received a Report of the Chamberlain concerning internal services charging with the Corporation.

The Chairman asked the Comptroller as to whether the legal department at the Corporation were, in principle, supportive, of an internal trading account being created for legal services. The Comptroller responded that he was supportive, although there were a few areas where it would difficult to scope the full value of legal services (e.g. child protection). Overall, the initiative was welcome, as it created a situation “where officers would have a greater appreciation and understanding of the financial cost of utilizing the Corporation’s legal services”.   

Members were supportive, emphasising that internal charging for legal services made the most sense to begin with. The Deputy Chairman suggested that officers should report back to the Committee with a progress report in twelve months.

A Member queried what policy the Corporation had for using external lawyers. In response, the Comptroller confirmed that this was on a case-by-case basis; when the legal services department lacked particular experience and/or capacity, external lawyers were engaged. It was also worth pointing out that independent counsel was sought throughout the year for a variety of issues.  

RESOLVED – that Members approved the following:

·         the creation of an internal trading account for the provision of all legal

services by the Comptroller and City Solicitor.

·         Delegated authority to the Chamberlain to amend budgets to facilitate the legal

services internal trading account.

·         the principle that work above business as usual which requires additional corporate support service resource should be charged to the department/programme and to receive a further report on the detailed implementation.

Report of The Chamberlain.

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

The Deputy Chairman (who also serves as the Chairman of the Information Technology Sub-Committee) confirmed that a deep dive on the CR16 Risk (Information Security) would be coming back to the IT Sub Committee.

RESOLVED – that Members noted the report.

Report of the Chamberlain.

Members received a report of the Chamberlain which provided Members with information regarding the current balance of the Finance Committee Contingency Funds for the current year.

RESOLVED – that Members noted the report.

Report of The Chamberlain.

Members received a Report of the Chamberlain concerning the department’s business plan.

RESOLVED – that Members noted the Report.

Report of The Chamberlain.

Members received a Report of the Chamberlain concerning revenue and budgeting monitoring.

RESOLVED – that Members noted the Report.

Report of The Chamberlain.

Members received items 13 and 14 together. These concerned Reports of the Chamberlain regarding the 2018/19 Budget & the medium term financial strategy, and the Revenue and Capital Budgets for 2017/18 and 2018/19.

The Deputy Chamberlain delivered a brief overview of both items, she emphasised several points, including:

-       The City’s Council Tax rate remained the third lowest of all local authority areas in Greater London.

-       Business rates remained a political hot topic, the City was making efforts to support small and medium sized businesses in the square mile, but increases were being introduced by central government and the GLA

-       Capital Expenditure would bear down on City Fund from 2019/20 onwards

-       City Fund was currently in a good position, but the Police Budget remained a concern – reserves were being drawn down to plug the deficit.

A Member suggested that the issue of Rates for small businesses was very serious, she had received several messages from her constituents concerned with the increases. It was incumbent on the City to speak out for and support SME’s in the Square Mile.

In response to a query from a Member about progress on the Police’s finances, the Chairman emphasises that while resources were finite and effective financial management was critical, the Police were being given the time to implement the Deloitte Review’s findings – these were sensible options that could deliver significant efficiencies.

The Commissioner stressed that the Police were working hard to deliver and that they were committed to efficiency, he emphasised that “the Deloitte Review was not about cuts, it was about transformation”. The Commissioner confirmed that he would be speaking to the Efficiency & Performance Sub (Finance) Committee on 21^st March to discuss more about the Police’s plans for efficiencies and value-for-money.

A Member expressed his concern that

Report of The Chamberlain.

Members received a Report of the Chamberlain concerning the Revenue and Capital Budgets for 2017/18 and 2019/19.

This Item was taken with Item 13 so for the discussion points, please see above.

RESOLVED – that Members approved the following:

·         Note the latest revenue budgets for 2017/18.

·         Agree the 2018/19 revenue budgets, subject to any amendments on the City Fund that may be agreed in relation to the report on “City Fund – 2018/19 Budget Report and Medium Term Financial Strategy?.

·         Agree the Capital budgets.

·         Delegate authority to the Chamberlain to determine financing of the capital budgets.

·         Endorse this report for onward approval to the Court of Common Council.

Report of The Town Clerk.

Members received a Report of the Town Clerk concerning the delegated authorities and urgency actions taken since the last meeting of the Committee – the report detailed a request for delegated authority to approve a bid from the Bridge House Estates (BHE)

Strategic Review Fund.

The Chairman requested that the Chamberlain review the financial thresholds for these types of requests. Members were supportive of officers looking at raising the threshold. Officers would examine the proposal and report back in due course.

RESOLVED – that Members noted the Report.

There were no questions.

The following item of urgent business were raised:

The Chairman informed Members that the Finance Committee on 13 March had been cancelled. The Next meeting was scheduled for 10 April.

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 23 January 2018.

The non-public minutes of the meeting held on 23^rd January were approved as an accurate record.

Report of the Town Clerk.

Members 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.

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

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

The Committee noted the draft non-public minutes of the following Sub-Committee meetings:

-        Efficiency and Performance Sub-Committee held on 30 January;

-        Joint Meeting of the Resource Allocation and Efficiency and Performance Sub-Committee held on 18 January

The non-public minutes of the Efficiency & Performance Sub-Committee meeting held on 30 January 2018 were noted.

The non-public minutes of the Finance Grants Sub-Committee meeting held on 18 January were noted.

Report of The Chamberlain.

Members considered a joint Report of The Chamberlain and the Department for Community and Children’s Services.

Report of The Town Clerk.

Members considered a Report of The Town Clerk.

Report of the Director of Open Spaces.

Members considered a Report of the Director of Open Spaces.

Report of The Commissioner of the City of London Police.

Members received a Report of the Commissioner of the City of London Police.

Report of The Chamberlain.

Members received a Report of the Chamberlain.

Report of The City Surveyor.

Members received a Report of the City Surveyor.

Report of The City Surveyor.

Members considered a Report of the City Surveyor.

Verbal update.

Members considered a verbal report of The Town Clerk and The City Surveyor.

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

Members considered two items of urgent business relating to 2 Kennington Road and Old Bailey fire safety measures.