Agenda item

Report of the Commissioner.

Members received a report of the Commissioner concerning the Quarter 1 revenue and capital monitoring update for the 2023/24 financial year.

Whilst the recent 7% National Pay award was welcomed by the Board, it did generate pressures elsewhere.

The Chair reflected on City of London being disproportionately disadvantaged by core grant from the Government, that was based on the number of local policing officers, rather than National Lead Force officers. The Chair had written to the Home Office on the matter. It was unlikely to get back dated but it was hoped that a change would be included for future years.

Whilst current reserves seemed disproportionately high, it was likely that further consideration would be given to using this toward balancing loans from the City of London Corporation. The Chamberlain was supportive of this approach.

Confidence in the forecasting procedures had grown as a result of improved control over financing procedures and increased discipline. 

The realignment of the budgeting process was caused by significant grant allocations being announced within the financial year.

In the next report, further information and analysis would be provided on mitigations and cost recovery for funded work.

Proceeds of Crime Act (POCA) funding was currently uncharacteristically high following a huge receipt as a result of Operation Neutron (£6-7m). This would be spent slowly on appropriate projects as expenditure will be greater than intake in coming years. POCA should not be used to fund core functions. Whilst asset recovery for POCA use was a focus for the Force, support for victims and the repatriation of their funds remained a priority.

RESOLVED, that the report be noted.