Report of the Managing Director, Bridge House Estates, City Bridge Trust
The Committee received a Report of the Managing Director of Bridge House Estates and Chief Charities Officer concerning Benefits-In-Kind (BIK).
In response to a query about why the rate of Benefits-In-Kind had increased over the last 12 months, officers responded that, with the easing out of lock-down and other covid restrictions, the Corporation’s facilities have been far more in use over recent months, compared to 2020/21, when, for instance, the Remembrancer’s Department had a nil return for BIK. Officers added that from 2023/24, all departments would be required to factor in BIK as a distinct item in their budgeting, so the data collected should be more accurate.
In response to a query about whether a BIK strategy would be forthcoming, officers emphasised that a strategy document was currently being worked up and that contributions from Members by way of comments and suggestions would be welcome. A Member requested that consideration be given to ensuring that any strategy which emerged took the risk of potential conflicts of interest into account. The Chairman thanked the Member for this important point and encouraged other Members to reach out to officers after the meeting.
Separately, a Member asked for more granular detail when it came to the BIK associated with the Barbican (page 66 in the agenda pack); the Report did not specify whether this referred to the Barbican residential estate or the arts centre. Officers would come back to the Member after the meeting with the relevant detail.
RESOLVED – that the Committee noted the Report