Agenda and minutes
Budget and Performance Committee - Tuesday 2 November 2010 10.00 am

To receive any apologies for absence and any announcements from the Chairman.

1.1  Apologies for absence were received on behalf of Murad Qureshi AM, for whom Joanne McCartney AM attended as a substitute.

The Committee is recommended to:

(a)  Note the list of memberships of functional bodies and London Borough Councils, as set out in the table at Item 2;

(b)  Note the gifts and hospitality received by Members, as set out on the Authority’s gifts and hospitality register; and

(c)  Declare any other personal or personal prejudicial interests in specific items listed on the agenda over and above those items listed in the table above and including any interests arising from gifts or hospitality received within the previous three years or from the date of election to the London Assembly, whichever is the later, which are not at the time of this meeting reflected on the Authority’s register of gifts and hospitality.

(a)  That the list of memberships of functional bodies and London borough councils, as set out in the table at Item 2, be noted as personal interests;

(b)  That Joanne McCartney AM’s membership of the Metropolitan Police Authority additionally be noted as a personal interest; and

(c)  That gifts and  ...  view the full minutes text for item 2.

The Committee is recommended to confirm the minutes of the meeting of the Budget and Performance Committee held on 14 October 2010 to be signed by the Chairman as a correct record.

3.1  The Committee received the minutes of the meeting of the Budget and Performance Committee held on 14 October 2010.

3.2  Resolved:

That the minutes of the meeting of the Budget and Performance Committee held on 14 October 2010 be signed by the Chairman as a correct record.

Report of the Executive Director of Secretariat

Contact:  John Barry; [email protected]; 020 7983 4425 

The Committee is recommended to note the recent action taken by the Chairman of the Committee under delegated authority.

4.1  The Committee received the report of the Executive Director of Secretariat setting out recent action taken by the Chairman of the Budget and Performance Committee under delegated authority.

4.2  Resolved:

That the recent action taken by the Chairman of the Committee under delegated authority be noted.

Report of the Executive Director of Secretariat

Contact:  Tim Steer; [email protected]; 020 7983 4250

The Committee is recommended to note the report and discussion with the heads of the finance teams at the functional bodies.

5.1  The Committee received the report of the Executive Director of Secretariat as background to the discussion.

5.2  The following invited guests were in attendance for this item:

·  Steve Allen, Managing Director of Finance, Transport for London;

·  Bob Atkins, Treasurer, Metropolitan Police Authority;

·  Anne McMeel, Director of Resources, Metropolitan Police  ...  view the full minutes text for item 5.

Report of the Executive Director of Secretariat

Contact:  William Roberts; [email protected]; 020 7983 4958 

The Committee is recommended to:

(a)   Agree the report, The Finance of the Olympic Legacy Part 1; and

(b)  Recommend to the Assembly that it uses its powers under section 60(1) of the Greater London Authority Act to request a response to the report from the Mayor.

6.1  The Committee received the report of the Executive Director of Secretariat.

6.2  Resolved:

(a)  That the report, The Finance of the Olympic Legacy Part 1 be agreed; and

(b)  That the Assembly be recommended that it uses its powers under section 60 (1) of the Greater London Authority  ...  view the full minutes text for item 6.

Report of the Executive Director of Resources

Contact:  Martin Mitchell; [email protected]; 020 7983 4145 

The Committee is recommended to note the contents of the report.

7.1  The Committee received the report of the Executive Director of Resources. 

7.2  Resolved:

(a)  That the report be noted;

(b)  That authority be delegated to the Chairman, in consultation with party Group Lead Members, to write as appropriate for further information in relation the monitoring report.

Report of the Executive Director of Resources

Contact:  Luke Webster; [email protected]; 020 7983 4252 

The Committee is recommended to:

a)  Note the performance of the Treasury Management function throughout 2009/10 and to 30 September 2010; and

b)  Note the progress of the GLA’s financing arrangements for Crossrail and the management and collection of the Crossrail Business Rates Supplement.

8.1   The Committee received the report of the Executive Director of Resources.

8.2  The Assistant Director of Finance, David Gallie, advised the Committee that due to the recently announced increase in the Public Works Loan Board rates of loan interest, further work would be undertaken to identify other funding source  ...  view the full minutes text for item 8.

Report of the Executive Director of Secretariat

Contact:  Tim Steer; [email protected]; 020 7983 4250

The Committee is recommended to agree the proposed work programme for the remainder of 2010/11.

9.1  The Committee received the report of the Executive Director of Secretariat. 

9.2  Resolved:

(a)  That the Budget and Performance Committee’s work programme for remainder of 2010/11 be agreed; and

(b)  That the Budget Monitoring Sub-Committee meeting scheduled for 9 November 2010 be cancelled.

The next meeting of the Committee is scheduled for 24 November at 10am in the Chamber.

10.1  The next scheduled meeting of the Committee was to be held on Wednesday 24 November 2010 at 10.00am.

11.1  There were no items of urgent business.

12.1  The meeting ended at 12.40pm.