Agenda 

Meeting:	Finance and Policy Committee	
Date:	Thursday, 30 July 2015	
Time:	10.00 am	
Place:	Palestra, 197 Blackfriars Road, London, SE1 8NJ	

Members

Peter Anderson (Chair)
Daniel Moylan (Vice-Chair)
Sir John Armitt CBE
Brian Cooke
Isabel Dedring
Baroness Grey-Thompson DBE
Angela Knight
Michael Liebreich
Eva Lindholm

Copies of the papers and any attachments are available on tfl.gov.uk How We Are Governed.

This meeting will be open to the public, except for where exempt information is being discussed as noted on the agenda. There is access for disabled people and induction loops are available. A guide for the press and public on attending and reporting meetings of local government bodies, including the use of film, photography, social media and other means is available on www.london.gov.uk/sites/default/files/Openness-in-Meetings.pdf.

Further Information

If you have questions, would like further information about the meeting or require special facilities please contact: Shamus Kenny, Head of Secretariat; telephone: 020 7983 4913 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, 22 July 2015

Agenda
Finance and Policy Committee
Thursday, 30 July 2015

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 of the Finance and Policy Committee held on 17 June 2015 (Pages 1 - 12)
	
	General Counsel

The Committee is asked to approve the minutes of the meeting of the Finance and Policy Committee held on  17 June 2015 and authorise the Chair to sign them.

4	Matters Arising and Actions List (Pages 13 - 16)
	
	General Counsel

The Committee is asked to note the updated actions list.

5	Independent Investment Programme Advisory Group 2014/15 Annual Report (Pages 17 - 76)
	
	Managing Director, Finance

The Committee is asked to note the Independent Investment Programme Advisory Group’s Annual Report for 2014/15 and to endorse TfL’s management response, for approval by the Mayor.

6	Independent Investment Programme Advisory Group Appointments (Pages 77 - 78)
	
	General Counsel

The Committee is asked to approve a process and selection panel that will recommend two candidates for appointment by the Mayor to the Independent Investment Programme Advisory Group.

7	Project Monitoring - Project Approvals (Pages 79 - 84)
	
	Managing Director, Finance

The Committee is asked to note the forward approval programme for projects with a value in excess of £50m and details the Project Authority granted by the Commissioner and the Managing Director, Finance in accordance with delegated authority under TfL’s Standing Orders.

8	Surface Intelligent Transport System (Pages 85 - 102)
	
	Managing Director Surface Transport 

The Committee is asked to recommend that the Board approves additional project authority for the Surface Intelligent Transport System bringing the total to £5.80m and, following completion of an Integrated Assurance Review, authorises the Managing Director Surface Transport to grant additional Project Authority of up to £6.26m (which would bring the total Project Authority to £12.06m) to undertake all procurement activities up to contract award.

9	Cycle Hire Re-Let (Pages 103 - 108)
	
	Managing Director Surface Transport

Under authority delegated by the Board, the Committee is asked to approve the contract award and related Project and Procurement Authority.

10	Crossrail Stations Upgrades (Pages 109 - 112)
	
	Managing Director Rail and Underground

The Committee is asked to exercise the authority delegated by the Board to approve an increase of £55m in the Project Authority to a total of £1,399m for the Crossrail train operating contract with Mass Transit Railway Corporation (Crossrail) Limited to deliver the station upgrades.

11	Barking Riverside Extension (Pages 113 - 122)
	
	Managing Director Rail and Underground

The Committee is asked to exercise the authority delegated by the Board to approve additional Project Authority of £2.7m increasing the total Project Authority to £4.7m, to continue the development of the Barking Riverside Extension and to prepare documentation for a Transport and Works Act Order application.

12	Jubilee and Northern Lines Additional Trains (Pages 123 - 128)
	
	Interim Managing Director Rail and Underground

The Committee is asked to exercise the authority delegated by the Board to approve additional project authority of £4.62m increasing total project authority to £6.027m with an expiry date of 30 November 2016.

13	Tottenham Court Road West Over Station Development (Pages 129 - 132)
	
	Managing Director Finance

The Committee is asked to approve authority to procure completion of the shell and core of the over site development above the new Crossrail station at Tottenham Court Road West using the current contractor, Laing O’Rourke (LOR), for the Crossrail Main Station contract.

14	Any Other Business the Chair Considers Urgent 
	
	The Chair will state the reason for urgency of any item taken.

15	Date of Next Meeting 
	
	Thursday 15 October 2015 at 10.00am

16	Exclusion of Press and Public 
	
	The Committee is recommended to agree to exclude the press and public from the meeting, in accordance with paragraphs 5 and 7 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.
	
17	Cycle Hire Re-Let (Pages 133 - 146)
	
	Managing Director Surface Transport

Exempt supplemental information relating to the item on Part 1.

18	Barking Riverside Extension (Pages 147 - 150)
	
	Managing Director Rail and Underground

Exempt supplemental information relating to the item on Part 1.

19	Jubilee and Northern Line Trains (Pages 151 - 158)
	
	Managing Director Rail and Underground

Exempt supplemental information relating to the item on Part 1.

20	Tottenham Court Road West Over Station Development (Pages 159 - 162)
	
	Managing Director Finance

Exempt supplemental information relating to the item on Part 1.