Agenda and minutes

Apologies for absence were received from Deputy Andrien Meyers, Deputy James Thomson, Deputy Christopher Hayward, Deputy Madush Gupta and Ben Murphy.  Madush Gupta and Ben Murphy joined the meeting remotely. 

There were no declarations of interest.

To agree the public minutes of the meeting held on 16^th May 2023.

RESOLVED – That the public minutes and summary of the meeting held on 16^th May be approved as an accurate record.

Matters arising

The Chairman advised of the following Chairman’s nominations, made after the last meeting of the Committee:

• Madush Gupta – Communications Sub Committee
• Randall Anderson - Guildhall Club
• James Bromiley-Davis – Audit and Risk Management Committee
• Eammon Mulally  – Digital Services Committee
• Nicholas Bensted Smith  – Mayoralty and Shrieval Allowances

Members are asked to note the Committee’s Workplan.

The Chamberlain advised that the update in respect of the Community Infrastructure Levy (CIL) could be removed, noting that the Committee would receive the proposed scope and timescale at the July Meeting.   Members noted that a review of CIL is a substantial amount of work, involving a public examination and extensive evidence. 

Chairman to be heard in respect of the meeting Scheduled for 5^th June 2023.

The Sub Committee had met the previous day and there were no specific updates from the public part of the agenda.

Report of the Chamberlain and the Town Clerk.

The Committee considered a report of the Chamberlain which sought approval of the proposed work programme, for the 2023/24 financial year, and to the composition of the Efficiency and Performance Working Group.  The Town Clerk would be writing to all Members after the meeting,  to expressions of interest, noting that a couple of Members had indicated a willingness to serve.

During the discussion on the report, Members noted the Finance Committee’s role in setting the financial envelope, to enable Policy and Resources Committee and the Resource Allocation Sub Committee to allocate funding.  The Finance Committee also sets the affordability envelope, to drive savings and income growth and the Chair stressed the importance of the Committee’s role in reviewing spending.  There was a suggestion in that future reports of this nature could be more succinct. 

RESOLVED, that:

1.       The proposed work programme for the Efficiency and Performance Working Party be approved. 

2.    The terms of reference and composition of the Efficiency and Performance working party be approved as follows:

•Chairman and Deputy Chairman of Finance Committee

•Chairman and Deputy Chairman of the Operational Property and Project Sub Committee

•           4 Members of the Finance Committee, not 2 Members from Corporate Services and Digital Services Committee, as set out in the report. 

Report of the Chamberlain.

The Committee considered a report of the Chamberlain in respect of a revision to the City Corporation’s Financial Regulations.  The Chamberlain explained that the ongoing reviews of projects and procurement would need to take place first, over the Summer of 2023.  Members noted that the revisions set out in the report effectively ‘tidy up’ the officer delegations.  The Chief Operating Officer added that the various interdependencies between the regulations would also need to be future proofed.   Members asked if future versions could show track changes, indicting where updates had been made.

Whilst the Chairman and Deputy Chairman supported the report, the Chairman stressed that this is strongly caveated by their expectation of significant efficiency improvements by the end of the financial year.   The Chairman reiterated the Finance Committee’s objective in making the whole City Corporation more efficient; by helping officers to fulfil their roles and giving Members confidence in financial controls.  The Chamberlain advised training in the new Regulations would be offered as part of the Member Development Programme.    

RESOLVED, that :

The revised Financial Regulations be approved, as set out in the appendix to the report.

Authority be  delegation to the Chamberlain to amend the regulations in respect of any changes that may need to be made as a result of the review of Project Procedure and of the Procurement Code; and

The next review of the regulations to be undertaken early in 2024, to pick up any further changes required, with the outcome being reported to the Finance Committee in the Spring of 2024.

Report of the Chamberlain.

The Committee considered a report of the Chamberlain, which provided an  update on the risks the Chamberlain’s department faces.

RESOLVED, that – the report be noted.

Town Clerk to be heard.

There were no public decisions taken under Delegated Authority or Urgency Procedures since the last meeting.

A Member asked about the increase in service charges on the Barbican Estate, which had effectively doubled for a range of reasons, the most significant being the need to renew the lifts in the tower blocks.  However, as it was now very unlikely the work would be done in this financial year, the Chamberlain agreed to look at a revised estimate.

There was a further comment in that resident communications in this matter had been poor.   The Chairman of the BRC, also a Member of the Finance Committee, advised that he was seeking to resolve this matter, noting that it did not fall within the Finance Committee’s Terms of Reference. 

The Town Clerk stressed the importance of modernising the City Corporation’s business processes, particularly in respect of calculating of service charges.  Members noted the review of the Barbican Estate Office, currently underway, which is seeking to address these issues.  The outcome of the review would be reported back to this Committee in September, in terms of financial regularity and value for money, with the wider issues being reported to the relevant Committees.  Members also noted that the new Executive Director of Community and Children’s services would be looking at to make resident communications more detailed and transparent in the future.

The Chamberlain explained that, under the City Fund’s Regulations, it is not possible to have a ‘sinking fund’. Members were asked to be mindful of the age of the Barbican Estate and the implications in respect of service charges.  The Chamberlain would be looking at the budgetary process and balancing charges with the new Executive Director and Housing Finance Team.

There were no urgent items.

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 16^th May 2023.

RESOLVED, That – the non-public minutes of the meeting held on 16^th May 2023 be approved. 

Chairman to be heard.

The Committee noted the key discussions which had taken place during non-public session of the meeting of the Sub Committee held on 5^th June 2023.

Director of Financial Services to be heard.

The Director of Financial Services was heard.

Report of the Chief Operating Officer.

The Committee considered and approved a report of the Chief Operating Officer

Report of the Chief Operating Officer and the City Surveyor

The Committee considered an approved a report of the Chief Operating Officer and the City Surveyor.

Report of the Chief Operating Officer and City Surveyor.

The Committee considered an approved a report of the Chief Operating Officer and the City Surveyor.

Report of the Chief Operating Officer and City Surveyor.

The Committee considered an approved a report of the Chief Operating Officer and the City Surveyor.

Town Clerk to be heard.

The Committee noted a non-public decision taken under delegated authority since the last meeting.

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

There were no items of urgent business.

The meeting ended at 1.55 pm