Until April 2007, the LSCP was part of the national cost recovery scheme. Safety Camera Partnerships on this scheme were governed by the Department for Transport and followed their rules and guidelines on operational and financial issues. During this time Safety Camera Partnership funds were hypothecated. This meant that money generated from speed and red light offences in London was fed back into the LSCP and used to cover operational costs, communications activity, new site analysis and installations. Any surplus funds were returned to Central Government.
During this time, the DfT required Partnerships to submit their audited accounts to them annually. Audited accounts for the years 2005/6 and 2006/7 can be viewed below. These accounts show the LSCP operating under the hypothecation scheme.
In April 2007 the national cost recovery scheme ended. Safety Camera Partnership funds are no longer hypothecated. Transport for London (TfL) now receive an annual grant from the DfT which is used for safety camera operations. Accounts are now audited by TfL's external auditors. TfL's Annual Report and Statement of Accounts can be found in the 'Corporate' section of the TfL website ( www.tfl.gov.uk ). ` |
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