Determining resource allocation
in accordance with the City Corporation’s strategies is
undertaken on behalf of the Committee by the Resource Allocation
Sub. The Sub-Committee also performs the role of a Reference
Sub-Committee, in that it considers and makes recommendations on
matters referred to it by the Grand Committee. The constitution of
the Resource Allocation Sub is agreed by the Court of Common
Council.
Composition (the Constitution has been
agreed by the Court of Common Council)
Chairman of the Policy and Resources Committee
(Chairman)
Chairman of the Finance Committee (Deputy Chairman)
The
Deputy Chairmen of the Policy and Resources Committee
The
Deputy Chairman of the Finance Committee
Chairman of the General Purposes Committee of the Court of
Aldermen
The
Senior Alderman below the Chair
The
Chairman of the Corporate Services Committee
Past
Chairmen of Policy and Resources Committee providing that they are
Members of the Committee at the time.
Six
Members of the Policy and Resources Committee
Terms of Reference
a)
to have power to determine the City
Corporation’s programme for repairs, maintenance and cyclical
replacement of plant & equipment in respect of all operational
and noninvestment properties, including the prioritisation of the
various schemes and projects;
b)
to determine the appropriate investment
proportions between property and non-property assets;
c)
to recommend to the Grand Committee the
extent of properties held by the City of London Corporation for
strategic purposes, including within the City of London
itself;
d)
to recommend to the Grand Committee the
allocation of operational property resources for service
delivery
e)
to be the reporting and oversight body
for the review of Operational Property;
f)
to be responsible for the effective and sustainable
management of the City of London Corporation’s operational
property portfolio, to help deliver strategic priorities and
service needs, including;
i.
agreeing the Corporate Asset Management
Strategy;
ii.
responsibility for reviewing and providing strategic
oversight of the Corporation’s Asset Management practices and
activities and advising Service Committees accordingly;
iii.
responsibility for reviewing and providing strategic
oversight of the Corporation’s Facilities Management
practices and activities and advising Service Committees
accordingly;
iv.
to maintain a comprehensive Property Database and
Asset Register of information which can be used in the decision
making process;
v.
in line with Standing Orders 53 (Asset Management
Plans) and 56 (Disposal of Surplus Properties) and the duties set
out within legislation, including the Localism Act 2011 and the
Housing and Planning Act 2016, to monitor the effective and
efficient use of all operational property assets;
vi.
oversight of the management of operational leases
with third parties, occupation by suppliers and those granted
accommodation as benefits-in-kind; and
vii.
in accordance with Standing Orders 57 and 58, the
Sub Committee can make disposals of properties which are not
suitable to be retained as investment property assets.
g)
in
accordance with thresholds stipulated within Standing Orders 55, 56
and 57, the Sub-Committee can approve acquisitions and disposal of
operational properties which are not suitable to be re-use or to be
retained as investment property assets.
h)
the power to commission from Service
Committees periodic management information on asset management
performance including, where
relevant:
i.
third party
agreements, income, rent arrears (including HRA)
ii.
efficiency of operational assets
including vacant space and utilisation in accordance with Standing
Order 56.
i)
to be responsible for the upkeep, maintenance and,
where appropriate, furnishing for operational properties (including
the Guildhall Complex) which do not fall within the remit of
another Service Committee;
j)
to monitor major capital projects relating to
operational assets to provide assurance about value for money,
accordance with service needs and compliance with strategic
plans;
k)
to consider, at the annual joint meeting of the
Resource Allocation Sub-Committee with Committee Chairs and the
Efficiency and Performance Working Party, the annual programme of
repairs and maintenance works (including surveys, conservation
management plans, hydrology assessments and heritage landscapes)
planned to commence the following financial year, and to monitor
progress in these works (when not included within the Project
procedure);
l)
to be responsible for strategies, performance and
monitoring initiatives in relation to energy;
m)
to monitor and advise on bids for Heritage Lottery
funding;
n)
to provide strategic oversight for security issues
across the Corporation’s operational property estate; with
the objectives of managing security risk; encouraging consistent
best practice across the Estate; and, in conjunction with the
Corporate Services Committee, fostering a culture of Members and
officers taking their responsibilities to keeping themselves and
the buildings they occupy secure;
o)
to recommend to the Grand Committee an
appropriate allocation of financial resources in respect of the City
Corporation’s capital and revenue expenditure;
p)
to meet with Chairmen of Service
Committees to advise on the status of the City Corporation’s
budgets and the recommended allocation of financial resources
overall and discuss any emerging issues;
q)
to set the annual quantum for each
City’s Estate and City Fund grants programme (including for
City’s Estate funded open spaces grants);
r)
to consider the annual performance
reports for all grants programmes from the Finance
Committee;
s)
to consider funding bids in respect of
the Community Infrastructure Levy Neighbourhood Fund of over
£100,000; and
t)
to consider and make recommendations in
respect of matters referred to it by the Grand Committee including
matters of policy and strategy.
