The Corporation operates on a non-political basis through its Lord Mayor, an important ambassador for the City and the financial services industry, and the Members of the Court of Common Council.
Local government legislation has conferred on the Common Council the functions of local authority for the City of London - the financial and commercial heart of Britain. In this capacity, the Corporation's responsibilities include the full range of services usually provided by a local authority, such as planning, housing, education, social services, environmental health and waste management - all geared to meeting the needs of the City's residents, businesses and workers, and ensuring that the City remains a great place in which to work and live.
The Corporation, also provides a range of additional services for the benefit of the City, London and the nation as a whole. The Corporation, through the Common Council, is, for example, the police authority for the City of London Police and the port health authority for the River Thames.
The Corporation's activities are funded partly through public resources, the City Fund, and partly from income from private and trust funds, City's Cash and Bridge House Estates.
The City Fund
This funds the Corporation's local authority, police authority and port health authority activities. The income to the Fund includes the Revenue Support Grant, redistributed business rates, the police grant and Council Tax. The Corporation retains only a small proportion of the business rate collected within the City. The remainder is paid to the national non-domestic rates pool and redistributed to local authorities on a residential population basis, providing substantial support for local government nationwide.
City's Cash
This is a private fund built up over centuries. It is derived mainly from property and has its origins in the 13th century. It is supplemented by income from investments and today is used to finance activities mainly for the benefit of London as a whole but also of relevance nationwide. The management and conservation of over 10,000 acres of open space; all the Lord Mayor's activities; Smithfield, Billingsgate and Leadenhall markets; three of the highest achieving independent schools in the country and the Guildhall School of Music and Drama - all these are paid for by City's Cash at no cost to the public.
Bridge House Estates
The Corporation administers this trust fund to undertake the maintenance of the four bridges which cross the Thames into the City: Tower, London, Southwark and Blackfriars bridges. The fund has its origins in medieval times deriving from the finance needed to build and maintain London Bridge. Over the centuries the fund has grown as rents and bequests have accrued, which enables it to provide vital charitable help towards the provision of transport and access for elderly and disabled people in the Greater London area.
Partnerships
The Corporation of London currently works with five regeneration partnerships working to foster economic, social and physical regeneration in London's most deprived areas. These partnerships play a valuable role in the successful delivery of complex regeneration initiatives. They bring together the public, private and voluntary sectors, providing skills and experiences in a co-ordinated campaign of action. They help provide and raise money with which to implement necessary schemes, whether from their own resources or from funds such as the Government's Single Regeneration Budget.
One such organisation is the City Fringe Partnership which operates in the neighbourhoods bordering the City to the north and east. Covering sections of the London Boroughs of Hackney, Tower Hamlets, Islington and Camden, its target areas include Clerkenwell, Hatton Garden, Shoreditch and Spitalfields.
Some key aspects to the partnerships programme include supporting small businesses in the fringe areas to compete to provide services to the City and ensuring that local residents benefit from new developments occurring in the area. The partnership also focuses on improving the skills of local residents, increasing the aspirations of younger residents through a range of youth projects and seeks to manage the impacts of the City's expansion into the City Fringe.
The Corporation is the Accountable Body for this partnership (responsible for financial management and programme delivery) and is also an active member in its various Board, Management and Steering Groups providing expert advice and guidance on the various partnerships programmes.
Economic Development
The Corporation of London is well aware of the opportunities and challenges ahead. Using its statutory powers to invest in economic development the Corporation aims: to keep in London - or attract - all the leading players in global finance and commerce as well as the professional support they need; to enhance those aspects of the City's environment that make London a desirable place to work and live; to work with the property and training sectors to make sure that the City continues to provide an efficient infrastructure and a workforce with world-class skills; to market and position the City, together with its neighbouring areas, as the world's leading international financial centre; to use its influence as both planning authority and landowner to seek to achieve an orderly property market where planning applications are dealt with promptly and space is taken up quickly on construction being completed.
Transportation
The City is heavily dependent on public transport, and the current system is under stress from increasing numbers of commuters and visitors. The Corporation recognises the need for urgent action and a co-ordinated approach to solving this problem. Partnerships, particularly within central London are working to improve the efficiency and safety of the transport system with organisations such as London Transport and Transport for London. The Corporation champions the cause of upgraded rail links, improved bus and underground services, and actively supports CrossRail. It also chairs the East London Line Extension Group. Examples of transport projects carried out by partnerships include reengineering interchanges, ensuring residents have access to public transport by providing services and infrastructure and taking measures to mitigate the environmental effects of transport systems.
Good transport links are essential to support economic growth and prosperity. The overall aim is to make London an easier place to negotiate and to live and carry out business. World-class cities need world-class systems of transport. The Corporation aims to keep traffic flowing across 50 miles of public highway. It is a complex task. Carrying out resurfacing work, easing access for disabled people and, in the long term, improving air quality - all are required to preserve the City's reputation as a great place to do business.
Arts and Heritage
The Corporation is the third largest funder of the arts in the UK and the vibrancy of the City's cultural life is apparent throughout the Square Mile. The area is studded with such gems as the Corporation's Barbican Centre, the prestigious Guildhall Art Gallery, the Guildhall School of Music and Drama and the Museum of London.
The Corporation's libraries lend over 250,000 books a year. There are three reference libraries, plus the largest collection of local authority archives in the UK. London Metropolitan Archives holds London and Middlesex records covering a period of nearly 900 years and has over 31 miles of shelving, whilst the Records Office holdings document the government of the City spanning 11 centuries. As well as the Guildhall and Barbican art galleries, the Corporation owns Keats House - the museum dedicated to the life and works of the poet John Keats. The Museum of London is funded jointly by the Corporation of London and the Department of Culture, Media and Sport, each providing half the annual costs. In addition to its main galleries and displays, the Museum offers a lively programme of events and exhibitions about various aspects of London and its history.
The Barbican is Europe's largest multi-arts and conference venue. It presents a year-round programme of art, music, film and theatre. The Barbican was built 19 years ago by the Corporation of London as a 'gift to the nation'. Today it continues to demonstrate the Corporation's commitment to the arts by being the third largest sponsor of the arts in the UK. Still funded and managed by the Corporation, the Barbican has something for everyone. Under one roof are a concert hall, two theatres, three cinemas, two art galleries, conservatory and public library, as well as three restaurants, private function rooms, conference suites, two exhibition halls and the Guildhall School of Music & Drama. Open 363 days a year, the Barbican Centre presents an unparalleled variety of performing and visual arts of world class calibre: classical and contemporary concerts, theatre, opera, dance, folk weekends, jazz and world music series, first release films and cinema seasons, painting, photography, sculpture, applied arts and crafts.
The Corporation of London's Sports Development team is committed to providing sporting opportunities at all levels for the resident and working populations of the City. It aims to remove barriers to participation and to promote personal, social and community development. A proactive approach is taken to increasing the provision within the City area and encouraging sport for all, regardless of age, of sex, or disability.
Support and the organisation of established competitions and events in the City is a priority, for example City Dip charity swim, London Marathon, 23 mile feeding station and the school holiday programmes. New events are always being introduced, a recent example being the primary schools swimming gala. A coaching and leadership programme has been set up to include courses such as CSLA (Community Sports Leaders Award), RLSS National Pool Lifeguarding Qualification and first aid courses.
The sporting programme in the City is enhanced by working in partnership with other organisations, such as the City of London Sports and Recreation Council and the various facility providers in and around the City. Through the Department of Community Services we aim to increase opportunities for participation, promote positive attitudes towards physical activity and provide opportunities enabling all participants at different levels to achieve their full potential.
Open Spaces
The Corporation protects and cares for more than 150 open spaces and 1 000 trees in the City. Space within the world's leading international financial and business centre has always been at a premium. However, it has a surprising number of secret gardens, disused burial grounds and churchyards all overflowing with trees, shrubs, herbaceous and bedding plants. There has been a tenfold increase in the number of gardens and landscaped areas in the City during the past 30 years. They range from tiny secret corners to the broad expanse of Finsbury Circus, the City's largest public garden. New building developments in the City must make a positive contribution to their environment and many trees, flower beds and water features have been gained in this way.
The Corporation also manages, runs and is committed to protecting more than 10 000 acres of open space in and around London, including Bunhill Fields, Highgate Woods, Queen's Park, West Ham Park, Hampstead Heath, Epping Forest, Burnham Beeches, Ashtead Common, and West Wickham and Coulsdon Commons. This commitment, wholehearted and unbending, is funded almost entirely from the Corporation's own private investments, at no cost to the communities enjoying the benefits.
The Corporation has moved to tap the vast reservoir of environmental knowledge in the Square Mile by recruiting City experts onto our Sustainable City Forum. Through the Forum the Corporation has been at the forefront of moves to encourage the development of a market in London for emission trading. As part of the global effort to cut noxious emissions, this market would allow companies to buy or sell credits depending on its environmental performance.
Because we know that care for our environment - whether it be heritage or natural resources - not only enhances our own attractions in the short term. It safeguards our long-term future.
