Agenda and minutes

It was moved by Deputy Sir Michael Snyder, seconded by Deputy Christopher Hayward, and approved by the Committee, that Alderman Sir Peter Estlin should take the Chair until agenda item 4.

Apologies for absence were received from Sophie Fernandes, Alderwoman Martha Grekos, Deputy Brian Mooney, Hugh Selka, Tom Sleigh and James St John Davis.

Deputy Rehana Ameer, Deputy Andrien Meyers and Mark Wheatley observed the meeting virtually.

There were no declarations of interest.

To receive the Order of the Court of Common Council dated 25th April 2024.

The Committee received the Order of the Court of Common Council dated 25th April 2024.

To elect a Chairman in accordance with Standing Order 29.

The Committee proceeded to elect a Chairman in accordance with Standing Order No. 29.

Deputy Henry Colthurst, as the only Member expressing their willingness to serve, was duly elected as Chairman for the ensuing year and took the Chair.

The Chairman thanked Members for their support. He also summarised briefly what he felt to be the priorities for the Finance Committee for the ensuing year

-     continue to improve and simplify financial reporting in order to assist decision making

-     oversee improved processes governing external contract management

-     focus increasingly on expense control across all areas

-     promote commercially driven solutions for market relocation and Barbican renewal

-     conclude the Charities review.

RESOLVED – That Deputy Henry Colthurst be elected Chairman of the Finance Committee for the ensuing year.

To elect a Deputy Chairman in accordance with Standing Order 30.

The Committee proceeded to elect a Deputy Chairman in accordance with Standing Order No. 30. Deputy Randall Anderson, as the only Member expressing their willingness to serve, was duly elected as Deputy Chairman for the ensuing year.

RESOLVED, that – Deputy Randall Anderson be elected as the Deputy Chair for the ensuing year.

To agree the public and non-public summary of the meeting held on 9 April 2024.

RESOLVED – That the public minutes and non-public summary of the meeting held on 9 April 2024 be approved as a correct record.

There are no outstanding actions.

There were no outstanding actions.

.

Report of the Chamberlain.

Members received a report of the Chamberlain providing the Committee’s forward plan.

The Chamberlain informed the Committee that there would likely be a cashflow request paper.

RESOLVED – That the Committee notes the report.

Report of the Chamberlain.

Members received a report of the Chamberlain providing the Efficiency and Performance Working Party's forward plan.

The Chairman requested that summary findings from Efficiency & Performance working parties be included in appendices for future Finance Committee meetings.

RESOLVED – That the Committee notes the report.

To receive a verbal update from the meeting of the Projects and Procurement Sub-Committee held on 15 April 2024.

Members received a verbal update from the Projects and Procurement Sub-Committee meeting held on 15 April 2024.

Report of the Town Clerk.

Members received a report of the Town Clerk concerning committee appointments.

The Chairman drew Members attention to his ex-officio position on the Fraud and Cyber Crime Reporting and Analysis Service Procurement Committee and suggested that a resolution to that Committee should be passed seeking a change to allow for the nomination of a representative. Members supported the proposal, though noted that the specific circumstances behind the composition might make it difficult for this change to be approved.

RESOLVED, that – Members:

a)     Agree the composition and Terms of Reference of the Projects and Procurement Sub-Committee, as set out in Appendix 1;

b)     Appoint the following two Members of the Finance Committee to the Projects and Procurement Sub-Committee:

• Philip Woodhouse
• Deputy Rehana Ameer

c)      Note the nomination by the Chairman of Deputy Elizabeth King as his representative on the Sub-Committee

d)     Note the appointment of the members of four other Committees to the Projects and Procurement Sub-Committee; i.e. – a representative each from the Community and Children’s Services Committee, the Digital Services Committee, the Police Authority Board and the Port Health and Environmental Services Committee.

e)     Agree the composition and Terms of Reference of the Efficiency and Performance Working Party, as set out in Appendix 2 to the report.

f)       Appoint the following four Members to the Efficiency and Performance Working Party

• Deputy Rehana Ameer
• Nick Bensted-Smith
• Steve Goodman
• Michael Hudson
• Benjamin Murphy

g)     agree the appointments of representatives to the following Committees and Sub-Committees:

• Corporate Services Committee - Steve Goodman
• Investment Committee –Shahnan Bakth and Deputy Madush Gupta
• Streets and Walkways Sub (Planning & Transportation) Committee – Brendan Barns (following a ballot)

h)     agree the appointments of [the Chairman and Deputy Chairman as the representatives for informal consultation with the Court of Aldermen and the Policy and Resources Committee on

Report of the Chamberlain.

During discussion, Members made the following requests:

·      Relevant Committees should be informed of debt write-offs as and when they occurred in their service areas.

·      Gender-neutral language should be used in the Regulations, and  included as part of the Chamberlain’s delegation.

·      Not to lose momentum for making changes to the whole scheme of delegation regime in order to improve speed and efficiency of decision making matched by “need to know reporting” which should be the end goal.

Report of the Deputy Town Clerk.

Members received a report of the Deputy Town Clerk concerning the London Metropolitan Archives.

A Member suggested that, as part of the options paper, consideration should be given to potentially relocating a portion of the Archives to new-build office space within the Square Mile.

RESOLVED, that – Members approve a budget of £150,000 from Finance Committee, City Fund contingency to enable the relevant research and development work to be undertaken at pace, and to help identify the next steps for the future accommodation of the London Metropolitan Archives.

Joint Report of the Chief People Officer and the Chamberlain.

Members received a report of the Chamberlain concerning the Enterprise Resource Planning programme.

RESOLVED, that – the report be received and its contents noted.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning the departmental business plan.

RESOLVED, that – the report be received and its contents noted.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning the departmental risk register.

RESOLVED, that – the report be received and its contents noted.

There were no questions.

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 9 May 2024.

The non-public minutes of the meeting held on 9 April 2024 were approved as a correct record.

To receive a verbal update from the non-public session of the meeting of the Projects and Procurement Sub-Committee held on 15 April 2024.

Members received a verbal update from the non-public session of the Projects and Procurement Sub-Committee meeting held on 15 April 2024.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning the Statement of Investment Principles.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning interest rates.

Report of the Chief People Officer.

Members received a report of the Chief People Officer concerning the procurement of a contract.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning the procurement of a contract.

Joint Report of the City Surveyor and the Deputy Town Clerk.

Members received a joint report of the City Surveyor and the Deputy Town Clerk concerning the award of a contract.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning the award of a contract.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning a duplicate payment run.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning major projects.

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

There was one item of other business in the non-public session.