Our finances

This page contains information on the financial management of MOPAC.

Transparency

MOPAC is committed to openness and transparency, and all of our budgets and accounts are published. For each financial year the budget, in-year budget monitoring, final accounts and external audit Annual Governance Report (AGR) are available below.

The framework governing the financial management of MOPAC is outlined in the Police Reform and Social Responsibility Act 2011, the Financial Management Code of Practice for the Police, the MOPAC Scheme of Delegation and in the MOPAC Financial Regulations and Contract Regulations.

The Mayor's Budget details the: 

  • Total MOPAC budget
  • Mayor's precept
  • anticipated sources of revenue
  • annual investment strategy
  • and the budget set for the MPS

In-year budget monitoring of MOPAC is provided to the GLA Police & Crime Committee on a regular basis and to the GLA Budget Monitoring Sub-Committee on a quarterly basis.

In January 2018, guidance was issued to Police and Crime Commissioners (PCCs) by the Minister for Policing & the Fire Service. This set out the Government’s expectations around the information to be published by Police & Crime Commissioners on their financial reserves strategies. MOPAC’s Reserves Strategy has been produced in accordance with this guidance and can be found here. This strategy will be reviewed annually.

Information on the premises MOPAC own or occupy is available on the Mayor's land and property database.

MOPAC is required to publish information about all expenditure exceeding £500. This information, and further detail of the finances of the Metropolitan Police Service and services to which MOPAC is entitled to recover a fee can be found in the MPS publication scheme.

Our contracts and financial agreements can be found on the MPS Publication Scheme, the Bluelight Procurement Database and the MOPAC contracts register

Information on the financial management of MOPAC is available below.

MOPAC Efficiency Plan 2016/17 – 2019/20

On 17 December, DCLG announced an opportunity for recipients of revenue support grant and retained business rates to achieve greater certainty and confidence from a 4-year budget. This commitment to provide minimum allocations for each year of the Spending Review is in exchange for a locally owned and locally driven Efficiency Plan.

This document sets out the MOPAC Efficiency Plan which is drawn principally from the Medium Term Financial Strategy and 2017/18 budget setting guidance received from the Mayor of London. The Plan is designed to develop and change as items are discussed with the Mayor and all committed savings are currently being re-assessed as part of the ongoing budget scrutiny process. Updated savings and efficiencies will be published as part of the Mayor’s 2017-18 budget.