Chapter IIGrants and Redistributed Non-domestic Rates
Grants
100General GLA grant
(1)For each financial year, the Secretary of State shall pay a grant (to be called “general GLA grant”) to the Authority.
(2)The grant shall be paid for the purposes of the Authority and the functional bodies.
(3)For each financial year the Secretary of State shall make a determination under this section.
(4)A determination shall state the amount of the grant for the year.
(5)Before making a determination, the Secretary of State shall consult the Mayor.
(6)The grant shall be paid in such instalments or such amounts and at such times as the Secretary of State may, with the Treasury’s consent, determine.
101GLA transport grant
(1)For each financial year, the Secretary of State shall pay a grant (to be called “GLA transport grant”) to the Authority.
(2)The grant shall be paid for the purposes of Transport for London.
(3)For each financial year the Secretary of State, after consultation with the Mayor, shall make a determination stating the amount of the grant for the year.
(4)The grant shall be paid in such instalments or such amounts and at such times as the Secretary of State may, with the Treasury’s consent, determine.
(5)The amount of the grant, or any terms relating to payment of the grant, may be varied from time to time by the Secretary of State after consultation with the Mayor.
Distribution of grants etc.
102Mayor to distribute grants etc between Authority and functional bodies
(1)For each financial year, it shall be the duty of the Authority to pay to each functional body, out of the aggregate specified in subsection (2) below, the amount required by the body out of that aggregate in accordance with the calculations (or last calculations) under section 85(4) to (7) of this Act.
(2)The aggregate mentioned in subsection (1) above is the aggregate of the sums received by the Authority for the financial year in respect of—
(a)revenue support grant;
(b)additional grant;
(c)relevant special grant;
(d)general GLA grant;
(e)redistributed non-domestic rates;
(f)any precept issued by the Authority; and
(g)payments to the Authority by billing authorities in accordance with regulations under section 99(3) of the [1988 c. 41.] Local Government Finance Act 1988.
(3)The payments required by subsection (1) above shall be made by instalments during the financial year in question.
(4)The instalments to be paid under subsection (3) above to a functional body shall be payments of such amounts, and shall be payable at such times, as will enable the body to meet its budgeted expenditure for the year as it falls due.
(5)It shall be the duty of the Authority to pay instalments under subsection (3) above punctually.
(6)In the application of subsection (4) above in relation to a functional body, “budgeted expenditure” means expenditure which, in accordance with the calculations (or last calculations) made under section 85(4) to (7) above, the body is to meet out of payments by way of instalments under this section.
(7)If an overpayment is made to a functional body in respect of the sums payable to it by virtue of this section, the functional body shall, in accordance with any directions given to it for the purpose by the Mayor, make at such times and in such manner as may be specified in the directions such payments to the Authority by way of repayment as may be so specified.
(8)In this section “relevant special grant” has the meaning given by section 32(12) of the [1992 c. 14.] Local Government Finance Act 1992.
103Authority’s duty to account to functional bodies for their grants
(1)Where the Authority receives any grant or other payment made only for the purposes, or particular purposes, of a functional body, the Authority shall forthwith account for the grant or other payment to the functional body concerned and pay it over to that body.
(2)Subsection (1) above does not apply in relation to any sum received in respect of an item which falls within any of the paragraphs of subsection (2) of section 102 above.