Minutes

Minutes of the meeting of the special joint meeting of the Finance Committee and Planning Performance and Review Committee held on 19 November 2007 at 10 Dean Farrar Street, London, SW1H 0NY.

Present

Members

• Reshard Auladin
• Elizabeth Howlett
• arim Murji
• Aneeta Prem
• Richard Sumray
• Graham Tope

MPA officers

• Catherine Crawford (Chief Executive)
• Ken Hunt (Treasurer)
• Siobhan Coldwell (Interim Assistant Chief Executive)
• John Crompton (Committee Services)

MPS officers

• Anne McMeel (Director of Strategic Finance)
• Stephen Rimmer (Director, Strategic Management and Performance)
• Simon Hart (Director of Finance Services)

5. Apologies for absence

(Agenda item 1)

Apologies for absence were received from Anthony Arbour, Richard Barnes, Faith Boardman, Dee Doocey, Aneeta Prem and Richard Sumray.

6. Appointment of chair

(Agenda item 2)

RESOLVED – That Graham Tope, Chair of the Finance Committee, be appointed Chair of the meeting.

7. Declarations of interests

(Agenda item 3)

No declarations of interest were received.

8. Minutes of the joint meting held on 20 September 2007

RESOLVED - That the minutes of the joint meeting held on 20 September 2007 be agreed and signed as a correct record.

9. 2008-11 Draft budget submission (Corporate Business Plan)

(Agenda item 5 )

A report was submitted which set out the MPA/MPS draft business plan and budget submission for 2008-11 in line with the Mayor of London’s guidance. The Committees are asked to approve the draft corporate business plan, prior to consideration by the Full Authority, as suitable for submission to the GLA on 27 November 2007.

The Chair referred to the fact that the Director, Strategic Management and Performance would shortly be finishing his secondment to the MPS and thanked him for his services to the Authority.

RESOLVED – That

1. to recommend to the Full Authority on 22 November 2007 that the draft 2008-11 corporate business plan and budget submission be submitted to the GLA on 27 November 2007;

2. Subject to consultation with the Treasurer, editing and other minor amendments be made by the Director of Strategic Finance as appropriate prior to submission to the GLA

10. Robustness of the estimates and adequacy of the reserves

(Agenda item 6)

A report was submitted which provided the Committee with information on the robustness of the estimates and the adequacy of the reserves, so that Members would have authoritative advice available when they make their decisions.

RESOLVED -  That the advice be noted.

11. Capital programme 2008/09 – 2014/15

(Agenda item 7)

A report was submitted which provided information on progress achieved in the preparation of the proposed seven-year borrowing and capital-spending plan 2008/09 to 2014/15. It outlines the work undertaken to ensure an affordable capital programme is achieved. This recognises the capacity of provisioning departments to deliver a range of property, information technology and transport projects, as well as schemes resulting from the staging of the Olympics/Paralympics in 2012 and new counter-terrorism initiatives. The plan is required as part of the overall budget submission to the Mayor of London. The report also contained information regarding the capital strategy, stewardship of the capital expenditure programme, and expected funding available to finance capital investment projects.

RESOLVED - That

1. approval be given to the revised capital spending plan for 2007/08,the draft borrowing and capital spending plan 2008/09 to 2014/15, and inclusion of the latter within the Authority’s budget submission to the Mayor of London (Appendix 1A - D refers):

2. the revised criteria for prioritisation and scoring of the draft borrowing and capital spending plan 2008/09 to 2014/15 as set out in paragraphs 30 to 34 inclusive be noted:

3. agree the present position regarding financing of the draft borrowing and capital spending plan 2008/09 to 2014/15 as set out in paragraphs 35 to 47 inclusive and Appendix 2

4. the key prudential indicators calculated from the draft borrowing and capital spending plan 2008/09 to 2014/15 as set out in Appendix 3 be noted; and

5. it be noted that the seven-year capital programme and related spending programme will be subject to further review following the announcement of the revenue and capital settlements by the Home Office and setting of the precept by the Mayor (paragraph 52 refers) and that the programme will also be subject to annual review thereafter (paragraph 2 refers)

12. Mayor's consultation A

(Agenda item 8)

A report was submitted which set out the proposed response to the Mayor of London’s consultation on his 2008/09 draft component budget for the MPA.

RESOLVED  - That the response to the Mayor of London’s consultation on his 2008/09 draft component budget for the MPA and the inclusion of information on the Delivering More Together Programme (Appendix 3) in the 2008/09 budget submission be recommended to the full Authority at its meeting on 27 November 2007.

13. MPA Resourcing

(Supplementary Agenda item 9)

This report seeks in principle approval for an increase to the MPA’s budget to reinforce capacity to support members in achieving the aims of the Corporate Strategy.

The Chief Executive apologised for the fact that the report had only been made available at the start of the meeting, but it had only been very recently decided to submit the budget bid. An expanded report which contained more information on the proposals would be submitted to the authority meeting.

The Chair said that given the fact that the report had been tabled and in the absence of a detailed bid the Committee could only note the proposals.

RESOLVED - That

1. The report be noted

2. An amended version of the report be submitted to the Authority meeting on 22 November.

The meeting finished at 3.28 pm

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