City Hall Finances Review

Meeting: 
MQT on 2008-05-21
Session date: 
May 21, 2008
Reference: 
2008/0842
Question By: 
Mike Tuffrey
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Your manifesto stated that:

"We will launch an immediate review of City Hall finances, which will look at every aspect of Mayoral spending - including all schemes and programmes - and will investigate why running costs have inflated over the last 8 years. The review will be conducted independently, and will be set up within the first 100 days."

Could you please: a) State the exact date the review was or will be launched and when it is expected to report b) Give an estimate of the cost of the review d) Give, for public record, a comprehensive list of the areas that will be covered by this review.

Answer

Answer for City Hall Finances Review

Answer for City Hall Finances Review

Answered By: 
The Mayor

I announced the formation of the Forensic Audit Panel on 8th May 2008 to undertake this review. I have asked the Panel to report initial findings to me within 30 days, and a final report within 60 days. I am unable to give an estimate of the cost at this stage. The Panel has been tasked to examine and report on the following areas; LDA: · Internal Controls and Management approval processes · Use of internal audit · Recording and detection of conflicts of interest · Anti-fraud and due diligence processes · Performance assessment and grant outcome monitoring and follow up. · Corporate Governance and control · Risk assessment processes · Internal personal performance appraisal system Specific Areas for Review: · Full line-by-line balance sheet review including review of provisions and contingent liabilities · Risk weighted review of all grants GLA: Review of budget setting process and objectives I am committed to leading an administration that provides value for money, and I want to use this review to ensure that the GLA is using taxpayer's money wisely and effectively.