2.
3.
bonds, mortgages or other borrowing methods. Substantial Government grants are procured in such areas as highways, housing, and for police and education. A recent bond issue of £750, 10 years at 12% interest, failed through lack of public support and the issue was absorbed by Underwriters. Foreign borrowings from Zurich and New York have declined due to economic circumstances but, normally, finance is raised in foreign markets under GLC or Treasury guarantees.
In our discussion Mr. Rootes considered that there should be little difficulty in raising £20m for the H.K. Cultural Complex on 5 - 10 years terms, thereby permitting immediate construction and early use of this desirable amenity.
GLC Management Organisation
(Mr. W. Finby-Taylor)
The present system of GLC management has evolved from the American "Planning, Programming and Budgeting System"
(P,P.B.S.), now modified and known as the GLC Corporate Management System. The organisation chart is attached under Appendix "C".
The pivot of the GLC organisation is the Programme Boards covering areas of housing, transport, public health and safety, arts and recreation, strategic planning and general services. These are Staff Committees (chaired by the Heads of Departments who also meet as the Director General's Board) which service the 14 Council Committees. Under the policy direction of the Council, with its important Leader's Co- ordination Committee and Policy and Resources Committee supported by a Finance Board, Establishment Board and General Purposes Committee, the management system operates as follows:
Lead Depts.
Reviews performance
Reviews policies
Makes policy proposals
Programme Boards
Produces programmes Reviews programmes Makes recommendations
Dir. Gen's Board
Assesses programme budgets, plans and resources
Departments
Produces detailed programme
budgets and multi-year plans
Committees
Decides resources availa- bility and allocations
The reporting system for review purposes is conducted over 5- month, 8-month and 12-month periods,
The current GLC programme is now affected by the serious inflation situation, necessitating cut-back in Capital expenditure; the political and practical considerations are now being debated,
Recommended: that consideration be given to the applicability
of the equivalent of GLC "Programme Boards" in H.K. to review policy, resources and performance, and report to appropriate Select Committees.
No comments yet.
Private notes are available after approval.