This resource is from the Committees section. This is report 7a of the 30 Oct 03 meeting of the MPA Committee and introduces the 2004/05 budget submission and in particular provides Authority members with details of further amendments considered by the Finance Committee for incorporation into the 2004/05 draft revenue budget.

Sections available here:

• 2004/05 budget submission
  • Summary
  • A. Recommendations
  • B. Supporting information
  • C. Equality and diversity implications
  • D. Financial implications
  • E. Background papers
  • F. Contact details
  • Appendix A
  • Appendix B

2004/05 budget submission

Report: 7a
Date: 30 October 2003
By: Treasurer

Summary

The report introduces the 2004/05 budget submission and in particular provides Authority members with details of further amendments considered by the Finance Committee for incorporation into the 2004/05 draft revenue budget.

A. Recommendations

1. That the Authority approve the 2004/05 budget submission to the Mayor subject to further amendments as recommended by the Finance Committee.

B. Supporting information

1. The 2004/05 budget submission has to be delivered to the mayor by 10 November 2003 and is before the Authority for approval at this meeting.

2. The submission comprises five sections. The Business Plan (section A) has been considered by the Planning Performance and Review Committee on 9 October. The MPA Budget and Equalities submission (section B1) was considered by the Equal Opportunities and Diversity Board on 17 October. The MPS Budget and Equalities submission (section B2) has not been considered formally by members.

3. The Finance Committee received the draft 2004/05 Revenue Budget and the Capital Plan submissions (sections C and D) on 13 October together with the Step Change business case (section E).

4. The draft revenue budget included in the submission is based on the position originally reported to the Finance Committee on 15 September which complies with savings option 3 in the Mayor’s budget guidance.

5. Appendix A attached is a report to the Finance Committee on 13 October summarising the draft revenue budget submission but also reporting the request by the Mayor to identify further reductions. Appendix B attached is a report to the Finance Committee on 23 October setting out the results of the further work and proposing that the Committee recommends to the Authority the incorporation of the reported adjustments in the revenue budget submission.

6. The 2004/05 revenue budget will be subject to further review in the light of the Government’s grant settlement, expected in the week commencing 17 November. The Mayor will consult the Authority formally on the budget proposals he intends to put out to statutory consultation. The Mayor is due to present his draft budget proposals to the London Assembly on 28 January 2004 and his final proposals on 18 February.

C. Equality and diversity implications

These are specifically reflected in the Equalities and Budget section of the budget submission.

D. Financial implications

The budget sets the financial framework for MPA and MPS activities in 2004/05.

E. Background papers

• MPA/MPS budget files.

F. Contact details

Report author: Peter Martin, MPA.

For more information contact:

MPA general: 020 7202 0202
Media enquiries: 020 7202 0217/18

Appendix A

Finance Committee – 13 October 2003 – Report 3

Appendix B

Finance Committee – 23 October 2003 – Report 6