The Mayor's budget for OPDC

The Mayor’s budget must pass through a number of stages, including scrutiny from the London Assembly, before it can be finalised. To a large extent the process is governed by legislation set out in the Greater London Authority Act.

In broad terms, the process is as follows:

• the budget setting process begins in the summer when the Mayor publishes (non-statutory) guidance to provide the context for and support the organisations that make up the GLA Group in preparing their budgets for the financial year ahead
• next, a consultation budget and a draft capital spending plan are published in December
• after consultation has closed in January, the Mayor publishes a draft consolidated budget
• a final consolidated budget follows in February. At this stage, the Assembly may amend the budget if a two-thirds majority of its Members vote in favour of a specific amendment proposal
• the Mayor then publishes his capital spending plan and the final budget for the financial year ahead