- Reference: 2007/1729
- Question by: Andrew Pelling
- Meeting date: 18 July 2007
The GLA annual monitoring report states that the Olympic precept raised £55.418m in 2006-07 even though the budget was £57.7m. The explanations say that £57.7m was raised, that £0.418m went to the Olympic Programme Support Unit and that the £2.282m difference has been paid to the Olympic reserve, but the budget table says £57.7m as the budget, not £55,418m. Has there been a shortfall in collection and if so, how will the £2.7m over the original £55m expected collection amount that is due to be moved to reserves now be accounted for?