Agenda item
Annual On-Street Parking Accounts 2013/14 and Utilisation of Accrued Surplus on Highway Improvements and Schemes
- Meeting of Special Meeting, Planning and Transportation Committee, Monday, 15th December, 2014 12.00 pm (Item 6.)
- View the background to item 6.
Report of the Chamberlain, being received by the Finance Committee on 9th December 2014, the Court of Common Council on 15 January 2014 and the Streets and Walkways Sub Committee on 19th January 2015.
Minutes:
The Committee received a report of the Chamberlain which advised that the City of London in common with other London authorities was required to report the Mayor for London on action taken in respect of any deficit or surplus in its on-street parking account for a particular financial year.
The purpose of this report was to inform members that:
· The surplus arising from on-street parking activities in 2013/14 was £5.290m;
· A total of £4.137m, was applied in 2013/14 to fund approved projects; and
· The surplus remaining on the on-street parking reserve at 31st March 2014 was £15.653m, which will be wholly allocated towards the funding of various highway improvements and other projects over the medium term.
RESOLVED – That the report be noted.
Supporting documents:
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