Agenda item

Report of the Managing Director, City Bridge Foundation.

Members received a report of the Managing Director, Bridge House Estates, concerning Benefits in Kind.

Members noted that the Committee’s former sub-committee, the Financial Grants Oversight and Performance Sub-Committee, had historically been responsible for benefits in kind (BIK).  The Chairman asked Members to consider whether they felt the Finance Committee remained the appropriate place for these to be reported.

The Chamberlain noted that the Finance Committee may wish to retain some oversight due to its responsibility for obtaining value for money, while the Policy and Resources Committee would want to consider whether BIKs were being deployed in the right areas.

Members felt the paper was helpful. The Deputy Chairman suggested that the Efficiency and Performance Working Party might be an appropriate place for BIKs to be considered in detail. 

RESOLVED, that – Members:

a)    Note the process undertaken to review BIK across CoLC Departments/ Institutions.

b)    Approve the £10,000 additional City’s Cash Budget for this review with implementation to take place in 2023/24.

c)    Approve the amendments to the BIK Guidelines including its implementation and ongoing support.