Agenda item

Any Other Business that the Chairman considers urgent

Minutes:

The following item of urgent business was raised –

 

Update to the Code of Corporate Governance concerning delegation of write off limits and discretionary business rate relief.

As part of the response to the Covid-19 pandemic Members agreed some amendments to the scheme of delegation to officers. These temporary measures expired on 31st October 2020.

 

A late report to today’s Finance Committee requested that the revised levels of delegation for write offs and the delegation of decisions for discretionary business rate relief are continued until they can be updated within the Code of Corporate Governance.

 

The report also requested that the Head of Revenues is given delegated authority to determine and award the grants for the Government business rate grant schemes. These grants are being delivered to support businesses through the pandemic.

 

In response to a concern about the scale of the thresholds proposed in the paper, the Chamberlain proposed keeping Members regularly up-to-date on decisions relating to higher cost decisions taken by his department, and that he submit a Report to the March Finance Committee, reflecting on whether Members wanted to approve a permanent change to the thresholds.

 

RESOLVED – that the Committee approved the following:

 

The amendments to the following changes to the Scheme of Delegations to Officers:

 

o   To temporarily increase the limits to write off all debts due to the City of London Corporation which are irrecoverable up to £100,000 (Head of Revenues) and up to £500,000 (Chamberlain) with any amount in excess of £500,000 to be submitted to Finance Committee for approval. Finance Committee to receive a report for information on any write-offs over £25,000 and a Report in March 2021 reflecting on whether Members wanted to approve a permanent change to these thresholds

 

o   To authorise the granting of discretionary rate relief under section 47 and section 49 of the Local Government Finance Act 1988 up to £25,000 per annum.

 

o   To delegate authority to the Head of Revenues to determine and award all business grant payments under the government support schemes.

 

Supporting documents: