Agenda 

Meeting:	Board 	
Date:	Wednesday 27 March 2013	
Time:	10.00am	
Place:	Committee Rooms 4 and 5, City Hall, The Queen’s Walk, London, SE1 2AA 	

Members

Boris Johnson, Chairman
Isabel Dedring, Deputy Chair
Peter Anderson
Sir John Armitt
Brendan Barber
Richard Barnes
Charles Belcher
Roger Burnley
Brian Cooke
Baroness Grey-Thompson
Angela Knight
Michael Liebreich 
Eva Lindholm
Daniel Moylan
Bob Oddy
Keith Williams
Steve Wright

This meeting will be open to the public. There is access for disabled people and induction loops are available.

Further Information

Copies of the papers and any attachments may be found at http://www.tfl.gov.uk/corporate/about-tfl/boardandchiefofficers/papers/1438.aspx

If you have questions, would like further information about the meeting or require special facilities please contact: Shamus Kenny, Head of Secretariat; telephone: 020 7126 4190 email: ShamusKenny@tfl.gov.uk

For media enquiries please contact the TfL Press Office; telephone: 0845 604 4141; email: PressOffice@tfl.gov.uk

Howard Carter, General Counsel
19 March 2013
Board 
Wednesday 27 March 2013

Agenda Part 1

1.	Apologies for Absence and Chairman's Announcements	
2.	Declarations of Interests	
	General Counsel

Members are reminded that any interests in a matter under discussion must be declared at the start of the meeting, or at the commencement of the item of business.  

Members must not take part in any discussion or decision on such a matter and, depending on the nature of the interest, may be asked to leave the room during the discussion.
	
3.	Minutes of the Meeting held on 6 February 2013	
	General Counsel

The Board is asked to approve the minutes of the meeting held on 6 February 2013.
	
4.	Matters Arising and Actions List	
	General Counsel

The Board is asked to note the updated actions list.
	
5.	Commissioner’s Report	
	Commissioner

The Board is asked to note the Commissioner’s Report, which provides an overview of major issues and developments since the report to the meeting on 6 February 2013 and updates Members on significant projects and initiatives.
	
6.	TfL Budget 2013/14	
	Managing Director, Finance

The Finance and Policy Committee recommends that the Board approve the TfL Budget 2013/14.

7.	Treasury Management and Derivative Investments Policies 2013/2014	
	Managing Director, Finance

The Board is asked to approve: the proposed TfL Treasury Management Policy Statement and Treasury Management Practices; and the proposed TfL Group Policy Relating to the use of Derivative Investments, as recommended by the Finance and Policy Committee.
	
8.	
Treasury Management Strategy for 2013/14	
	Managing Director, Finance

The Board is asked to: approve the Treasury Management Strategy for 2013/14, including the Investment Strategy, Borrowing Strategy and Risk Management Strategy and the TfL Policy on Minimum Revenue Provision; and ratify the approval and execution of a guarantee by TfL to HSBC plc dated 25 June 2010 in respect of Crossrail Limited in connection with the TfL Group banking arrangements, as recommended by the Finance and Policy Committee.
 	
9.	
TfL Prudential Indicators 2013 to 2016	
	Managing Director, Finance

The Board is asked to approve the TfL Prudential Indicators for 2013/14 and the following two years and the Treasury Indicators for 2013/14 and the following two years, as recommended by the Finance and Policy Committee.
 	
10.	Cycle Superhighways	
	Managing Director, Surface Transport

The Board is asked to approve additional Project Authority of £15.73m for project implementation and Procurement Authority of £9.6m for construction work to be undertaken through the London Highways Alliance Contracts, as recommended by the Finance and Policy Committee.
	
11.	Structures and Tunnels Investment Programme	
	Managing Director, Surface Transport

The Board is asked to approve the award of a Framework Agreement for Early Contractor Involvement and Construction with four suppliers for refurbishment or replacement of bridges, tunnels and other structures, as recommended by the Finance and Policy Committee.	

12.	Stations Stabilisation Programme	
	Managing Director, Rail and Underground

The Board is asked to grant total budgeted Project Authority of £163.6m at outturn for this programme, as recommended by the Finance and Policy Committee.
	
13.	Northern Line Extension to Battersea Transport and Works Act Order	
	Managing Director, Planning / Managing Director, Rail and Underground

The Board is asked to approve TfL making an application for a Transport and Works Act Order and for related consents to provide all the necessary rights in respect of the construction, operation and maintenance of the Northern Line Extension to Battersea, including associated use and compulsory acquisition of land and grants £13.1m of Financial and Project Authority to progress the project through the TWAO process, as recommended by the Finance and Policy Committee.
	
14.	Crossrail: Plumstead Transport and Works Act Order	
	Managing Director, Finance

The Board is asked to approve Crossrail Limited making an application for a Transport and Works Act Order that provides all the necessary land rights and planning permissions required to construct and operate a railway stabling and maintenance facility at Plumstead, as recommended by the Finance and Policy Committee.	
15.	Crossrail: Paddington Station Bakerloo Line Link Transport and Works Act Order	
	Managing Director, Finance

The Board is asked to approve Crossrail Limited to making a revised application for a Transport and Works Act Order relating to the construction of the Paddington Station Bakerloo Line Link, as recommended by the Finance and Policy Committee.
	
16.	Local Government Ombudsman Report on the London Low Emission Zone	
	Managing Director, Surface Transport

The Board is asked to consider the Local Government Ombudsman’s report.

17.	Delegation of authority for Section 101 Agreements with London Boroughs	
	Managing Director, Surface Transport

The Board is asked to delegate authority to the Managing Director, Surface Transport to approve TfL entering into future agreements pursuant to Section 101 (5) of the Local Government Act 1972 with London boroughs in relation to the joint discharge of their respective powers to make Traffic Regulation Orders.  
	
18.	Delegation to the Finance and Policy Committee of Transactions Over £100m	
	General Counsel

The Board is asked to delegate to the Finance and Policy Committee authority to approve any project or transaction over £100m from 28 March until 2 July 2013 and from 4 July to 24 September 2013.  
	
19.	Report of the meeting of the Audit and Assurance Committee held on 6 March 2013	
	Committee Chairman, Keith Williams

The Board is asked to note the summary report. 
	
20.	Report of the meeting of the Finance and Policy Committee held on 13 March 2013	
	Committee Chairman, Peter Anderson

The Board is asked to note the summary report. 
	
21.	Report of the meeting of the Safety and Sustainability Panel held on 19 March 2013 – To Follow	
	Panel Chairman, Charles Belcher

The Board is asked to note the summary report. 
	
22.	Any Other Business the Chairman Considers Urgent	
	The Chairman will state the reason for urgency of any item taken.	

23.	Date of Next Meeting 	
	Wednesday 3 July 2013 at 10.00am	

24.	Exclusion of Press and Public	
	The Board is recommended to agree to exclude the press and public from the meeting, in accordance with paragraph 3 and 5 of Schedule 12A to the Local Government Act 1972 (as amended), in order to consider the following items of business. 	

Agenda Part 2
Papers containing confidential or exempt information, including supplemental information relating to items on Part 1 of the agenda.	
25.	Structures and Tunnels Investment Programme	
	Managing Director, Surface Transport

Exempt supplemental information relating to the item on Part 1.
	
26.	Northern Line Extension to Battersea Transport and Works Act Order	
	Managing Director, Planning / Managing Director, Rail and Underground

Exempt supplemental information relating to the item on Part 1.
	
27.	Final Results of the 2012 Actuarial Valuation of the TfL Pension Fund	
	Managing Director, Finance

The Board is asked to note the final results of the 2012 formal valuation of the TfL Pension Fund and approve the proposed Recovery Plan.
	
28.	East London Line Main Works Contract	
	Managing Director, Rail and Underground

The Board is asked to delegate authority to the Finance and Policy Committee to approve additional Project and Procurement Authority that may be required for this contract. 

29.	Report of the meeting of the Audit and Assurance Committee held on 6 March 2013	
	Committee Chairman, Keith Williams

The Board is asked to note the summary report.