Agenda item

Report of the Chamberlain.

The Committee received a report of the Chamberlain concerning the revised revenue budgets for 2023/24 and original estimates for 2024/25.

Members of the Committee raised queries on whether there were opportunities to reduce costs by sharing services to other nearby Local Authorities. The response heard that this could be possible, but there was a want for alignment across the City of London Corporation and its institutions first before considering further afield. Members raised the difficulties faced with some London Local Authorities with sharing the Enterprise Resource Planning (ERP). In response to suggestions on selling services, the Committee heard that this was an oversaturated market. However, there could be future opportunities with cyber security.

On open-source software, the Committee noted that it had recently received a report to reduce open software. A model for the future would be produced in relation to software.

The uplift in the budget for the Enterprise Resource Programme (ERP) that had been approved by the Committee would be received at the Projects and Procurement Sub-Committee and had been scrutinised by the Finance Committee. It would be incorporated as part of the budget-setting process.

RESOLVED – That the Committee:

(i)             Note the approved revised revenue budget for 2023/24;

(ii)            Approve the proposed 2024/25 draft revenue budget to ensure that it reflects the Committee’s objectives and, approve the budget for onward submission to the Finance Committee;

(iii)           Note the committee’s capital budgets and the IT bids for 2024/25, set out in Appendix 2; and

(iv)           Agree that any minor amendments for 2023/24 and 2024/25 budgets arising during the corporate budget setting period be delegated to the Chamberlain.