Part III Financial Provisions
Chapter IV Revenue Accounts and Capital Finance
Supplementary provisions
I1124 Admissible factors in preparing capital spending plan etc.
1
In preparing a capital spending plan for any financial year, the Mayor may take account of such factors as appear to him to be appropriate.
2
The reference in subsection (1) above to preparing a capital spending plan for a financial year includes a reference to deciding, in the case of each of the functional bodies,—
a
the minimum amount of grant which the Authority is to pay to the body for the year under section 120 above; and
F2b
the amounts to be transferred to the body under section 32(5) of the Local Government Act 2003 (Mayor’s power to transfer expenditure grant);
3
Without prejudice to the generality of subsection (1) above, the Mayor may in particular take account of—
a
the capital spending plans for such financial years which have ended as he may determine; and
b
the amounts of each functional body’s total capital spending specified in section C of each of those plans which have been met as described in each of the paragraphs of subsection (4) below.
4
Those amounts are—
a
the amount met out of capital grants made to the body;
F4c
the amount met by borrowing or entering into or varying credit arrangements;
d
the amount met by making a charge to a revenue account.