Agenda item

To consider the annual On-Street Parking Accounts for 2017/18 and related funding of Highway Improvements and Schemes.

The Court received a report advising of action taken in respect of any deficit or surplus in its On-Street Parking Account for 201718, the information should subsequently be reported to the Mayor of London.

The report advised informed Members that:

·         the surplus arising from on-street parking activities in 2017/18 was £14.523m;

·         a total of £4.664m, was applied in 2017/18 to fund approved projects; and

·         the surplus remaining on the On-Street Parking Reserve at 31st March 2018 was £29.980m, which will be wholly allocated towards the funding of various highway improvements and other projects over the medium term.

Resolved – That the report be noted and its submission to the Mayor of London be approved.