Agenda item

*Q1 Revenue and Capital Budget Monitoring

Report of the Commissioner.


The Committee received a report of the Commissioner on the Q1 Revenue & Capital Budget Monitoring 2022/23.            


Introducing the report Officers noted that there were significant financial pressures and risks for the Revenue and Capital Budget which would need to be considered going forward. Moreover, it was observed that there were considerable financial pressures on the previous position reported in June on the Medium-Term Financial Plan. The Chair commented that he was happy with the progress on the Q1 Revenue and Capital Budget noting that some of the risks were not fully mitigatable. It was highlighted that, as the seventy three percent of the City of London Police’s budget was spent on staffing, the proposed pay deal and inflation were key risks to manage.


The Chair highlighted the Operational Property and Projects Sub-Committee decision for all projects to be reviewed in relation to inflationary pressures and, therefore, the potential effect on some police related projects. 


The Police Authority Board Chair commented that there needed to be oversight role for the Board and the Resource, Risk and Estates Committee to determine how Proceeds of Crime Act (POCA) funds were allocated. It was agreed that a report on the governance of the POCA funds would be presented to November meeting of the Committee as part of the MTFP update due to that meeting.


RESOLVED- That the report be noted.



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