Agenda item

Report of The Chamberlain and The Director of Community and Children's Services.

The Committee considered a joint report of the Chamberlain and the Director of Community and Children’s Services submitting the revenue budgets overseen by the Committee and seeking approval to the provisional revenue budget for 2015/16, for subsequent submission to the Finance Committee.

The Chamberlain reported that, overall, the 2015/16 provisional revenue budget totalled £109,000, an increase of £13,000 compared with the final budget for 2014/15. He reported that this was due to an increase of £16,000 in the City Grant to Gresham College in accordance with the agreed funding arrangements between the City of London Corporation, the Mercers’ Company and Gresham College. This was partly offset by additional income of £4,000 from the City’s 50% share of the Gresham Estate.

Members noted the Gresham Committee contingency budget of £3,000 and agreed that a request should be made to increase this to £10,000, to cover any minor events or funding requirements in the future. Members discussed the Gresham Committee Service Overview appended to the report, and requested a change in the wording. Members noted that key financial details should not be included in this, a public document, but a non-public version could be included in the Gresham Committee handbook.

RESOLVED – That:

(a)  The provisional 2015/16 revenue be approved for submission to the Finance Committee, with an increase to the contingency budget;

(b)  That the wording in the Gresham Committee Service Overview be changed subject to discussion with the Deputy Chairman; and

(c)  That a more detailed Gresham Committee Service Overview be added to the Gresham Committee handbook.