Tuesday, January 29, 2008

TfL Blow the Budget


At this morning's budget committee TfL presented their reasons for overspending their consultancy budget by £35 million (which is significant on a base of £130 million). The main items they highlighted in their report were:

London Underground

Expenditure on professional and consultancy fees at £34.8m was £4.1m above budget as a result of additional legal costs of £2.5m relating to claims including Chancery Lane and the Northern Line tripcocks. Operational consultancy was overspent by £2.4m in connection with work to ensure that line upgrades were achieved.

Surface Transport

Expenditure on professional and consultancy fees at £40.8m was £10.0m above budget as a result of the additional requirements for IT and engineering consultancy services particularly for the Tour De France (£2m), Traffic control infrastructure (£2m), TLRN cycling (£3m), Road network management support (£2m) and Road network scheme design (£2m).

London Rail

Expenditure on professional and consultancy fees at £28.9m was £7.0m above budget as a result of the acceleration of the Stratford International Station project as well as legal and corporate finance consultant costs for the refranchise of the North London Railway (NLR). The budget for the letting of the NLR concession assumed that there would be a separate East London Line (ELL) concession, however, during the year it was agreed to include the operation of the NLR and ELL under a single concession agreement.

Corporate

Expenditure on professional and consultancy fees at £60.6m was £13.6m above budget as a result of additional expenditure on the Business Improvement Programme - primarily new projects to enhance the functionality and efficiencies delivered by the SAP system.

2 comments:

judith said...

That you read and understand all that is both incomprehensible and admirable.

That the electorate still vote for Livingstone's profligacy is both incomprehensible and reprehensible.

(now goes to lie down in a darkened room with cold flannel over eyes)

Anonymous said...

Ken is the one who needs a tripcock.

Frederick