Agenda item

Joint report of the Chamberlain and the Director of Markets & Consumer Protection (copy attached).

A joint report of the Chamberlain and the Director of Markets and Consumer Protection set out the annual submission of the revenue budgets overseen by this Committee. The report sought approval to the provisional revenue budgets for 2013/14, for subsequent submission to the Finance Committee. Overall, the 2013/14 provisional revenue budget was nil, a decrease of £50,000 compared with the latest approved budget for 2012/13. Main reasons for the reduction were:-

·             One-off carry-forwards from 2011/12 totalling £34,000 which were included in the 2012/13 latest approved budget and;

·             A forecast increase in licence fee income of £26,000.

RESOLVED – That Members:

i)             the budget for submission to the Finance Committee be approved; and

ii)           the Chamberlain be authorised to revise the budgets to allow for further implications arising from potential budget developments including PP2P reviews, the implementation of the City of London Procurement Service, review of the licensing fee structure, introduction of a Late Night Levy, and changes in respect of recharges.