Request ID: FOI-1599-2223 Date published: 06 October 2022
You asked
TFL is funded by the public but when I spoke to xxxx I was told that a private company in TFL run the street of london,
I would appreciate your assistance to send me how TFL is funded and who get the fund.
We answered
TfL Ref: FOI-1599-2223
Thank you for your request of 4th October 2022 asking for information about TfL’s funding.
Your request has been considered in accordance with the requirements of the Freedom of Information Act and our information access policy.
Specifically you asked:
“TFL is funded by the public but when I spoke to xxxx I was told that a private company in TFL run the street of London. I would appreciate your assistance to send me how TFL is funded and who get the fund.”
I can confirm that we hold the information you require.
The requested information can be found in TfL’s Annual Report and Accounts, and in particular the Statement of Accounts section beginning on page 79 of the report - published on our website here:
As you can see, on page 83 of the report the following high-level explanation is provided on our sources of funding:
“Our activities are funded from four main sources:
• Passenger fares income – historically this has been the largest single source of our income, but was significantly impacted by the pandemic in 2020/21 and 2021/22 • Other income, including commercial activity and income from the Congestion Charge and other road-user charges • Grant income, including an extraordinary funding grant from the DfT, and a share of London Business Rates passed down to TfL from the GLA • Prudential borrowing (the amount and profile of which has been agreed with the DfT) and cash reserves
TfL’s Business Plan is financially balanced over the medium term, with planned funding sources sufficient to meet planned expenditure. Short-term timing differences between expenditure and funding are managed through transfers to or from our cash reserves. Government recognises that further capital funding beyond the current funding settlement may be required by TfL.”
More detail on our income is then covered on pages 84-87. The pages immediately following that give details of our expenditure.
In accordance with section 21 of the FOI Act, we are not obliged to supply you with a copy of the requested information as it is already accessible to you elsewhere.
If this is not the information you are looking for, or if you are unable to access it for any reason, please do not hesitate to contact me.
Please see the attached information sheet for details of your right to appeal as well as information on copyright and what to do if you would like to re-use any of the information we have disclosed.
Yours sincerely,
David Wells FOI Case Officer FOI Case Management Team General Counsel Transport for London
