Report of the Commissioner.
The Committee received a report of the Commissioner of Police on the City of London Police Capital and Revenue Outturn 2021-2022.
The Committee were informed of the reasons for revenue underspend of £2M noting that this provided the opportunity to increase reserves with the proposal to pay into the general reserve and combine earmarked reserves to bring the general reserve to £4.3M.
The Chair noted he had concerns over the ability of the Force to adequately plan and execute capital spending budget exercises.
Following a discussion by the Committee on the suitability of combining reserves it was requested that Officers prepare a report for Committee consideration on the proposals for the reserves policy.
In response to a Member question it was confirmed that key decisions on the realignment of capital priorities would be take by the City of London Police Chief Officer group.
RESOLVED- That: -
I. the report be noted; and
II. That Members noted that PAB will be asked to approve the proposed allocation of the £2m underspend to the General Reserve, along with the consolidation of other earmarked reserves into General Reserve as highlighted, when the final outturn is presented to June PAB.