Agenda 

Meeting	Finance and Policy Committee 	
Date	Thursday 31 May 2012	
Time	9.30am	
Place	Committee Rooms 1 and 2, Ground Floor, Palestra, London, SE1	

Members of the Committee

Peter Anderson, Chair
Daniel Moylan, Vice Chair
Claudia Arney
Isabel Dedring
Christopher Garnett
Sir Mike Hodgkinson
Judith Hunt
Eva Lindholm
Steven Norris
Tony West

This meeting will be open to the public. There is access for disabled people and induction loops are available.

Further Information

Copies of the papers and any attachments may be found at http://www.tfl.gov.uk/corporate/about-tfl/boardandchiefofficers/papers/1438.aspx

If you have questions, would like further information about the meeting or require special facilities please contact: Shamus Kenny, Head of Secretariat; telephone: 020 7126 4190; email: ShamusKenny@tfl.gov.uk

For media enquiries please contact the TfL Press Office; telephone: 0845 604 4141; email: PressOffice@tfl.gov.uk

Howard Carter, General Counsel
Wednesday 23 May 2012

Finance and Policy Committee 
Thursday 31 May 2012

Agenda Part 1

1.	Apologies for Absence and Chair's Announcements	
2.	Declarations of Interests	
	General Counsel

Members are reminded that any interests in a matter under discussion must be declared at the start of the meeting, or at the commencement of the item of business.  

Members must not take part in any discussion or decision on such a matter and, depending on the nature of the interest, may be asked to leave the room during the discussion.
	
3.	Minutes of the Meeting held on 1 March 2012	
	General Counsel

The Committee is asked to approve the minutes of the previous meeting and authorise the Chair to sign them.
	
4.	Matters Arising and Actions List	
	General Counsel

The Committee is asked to note the updated actions list.
 	
5.	Operational and Financial Performance Report – Fourth Quarter 2011/12	
	Managing Director, Finance

The Committee is asked to note TfL’s Operational and Financial Performance during the fourth quarter of 2011/12.
	
6.	Local Government Resource Review	
	Managing Director, Finance

The Committee is asked to note the proposed reforms contained within the Local Government Resource Review, their likely impact on TfL’s future funding arrangements and the key outstanding issues to resolve.
	
7.	Crossrail: Application for Transport and Works Act Order at Whitechapel	
	Managing Director, Finance

The Committee is asked to recommend that the Board approves Crossrail Limited (CRL) making an application for a Transport and Works Act Order (TWAO) authorising acquisition and/or temporary use of land to facilitate Crossrail works at Whitechapel.  It also briefs the Committee on CRL’s plans for pre-application consultation at Plumstead and Paddington.
	
8.	Department for Transport Reforming our Railways Paper and Consultations	
	Managing Director, Rail and Underground

The Committee is provided with information on the recent Department for Transport documents: ‘Reforming our railways: putting the customer first’ paper; ‘Rail decentralisation’ consultation; and ‘Rail fares and ticketing review’ consultation. The Committee is asked to note the proposed response to the DfT’s Rail Decentralisation Consultation. 	

9.	Any Other Business the Chair Considers Urgent	
	The Chair will state the reason for urgency of any item taken.
	
10.	Date of Next Meeting 	
	Wednesday 11 July 2012 at 9.30am.	

11.	Exclusion of Press and Public	
	The Committee is recommended to agree to exclude the press and public from the meeting, in accordance with paragraph 3 of Schedule 12A to the Local Government Act 1972 (as amended), in order to consider the following items of business. 	

Agenda Part 2
Papers containing supplemental confidential or exempt information not included in the related item on Part 1 of the agenda.	
12.	Minutes of the Meetings held on 1 and 15 March 2012	
	General Counsel

The Committee is asked to approve the minutes of the previous meetings and authorise the Chair to sign them.
	
13.	Matters Arising and Actions List	
	General Counsel

The Committee is asked to note the updated actions list. 	
		
14.	Metronet Put Options	
	General Counsel

The Committee is asked to note legal advice on the consequential issues in relation to the settlement of the Put Option Price to the former lenders to the Metronet Companies.