Report of the Commissioner.
The Committee received a report of the Commissioner on the Q2 Revenue & Capital Budget Monitoring 2022/23.
The Chair commented that the wide variations in the budget and planning for known future pressures needed to be better managed. Officers noted this and added that the Force’s finance function had been strengthened which would create capacity to manage these processes more effectively.
In response to a Member’s query Officers confirmed that Police Officer posts were not being held vacant to balance the budgetary position.
Replying to a Member’s question Officers explained the asset recovery process, noting that not all funds recovered in these processes were received by the City of London Police. Officers undertook to confirm the levels of funds recovered under the asset recovery process in the next update.
Officers outlined the inflationary assumptions made within the budget and explained that an ongoing monthly monitoring process had also been established.
The Committee discussed the rules governing the expenditure of funds from the Proceeds of Crime Act noting that the Police Authority Board would be consulted on the use of funds outside of projects identified in the report.
RESOLVED- That the report be noted.