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Date updated: 26/09/2023

The City Fund

This Fund meets the cost of the City of London Corporation’s local authority, Police Authority and Port Health Authority activities. The Fund generates rental and interest income to help finance these activities. In addition, in common with other local authorities, it receives grants from central government, a share of business rates income and the proceeds of the local council tax.

The City Corporation retains only a small proportion of the business rates collected from its area, in accordance with the national arrangements. The remainder has to be paid over to the national non-domestic rates pool and is redistributed to local authorities throughout the country by central government.

Because of its special circumstances – notably its very low resident population and high daytime population – the City Corporation is allowed uniquely to set its own business rate. It may set this rate, subject to certain constraints, at a higher or lower level than the National Non-Domestic Rate determined by central government for the rest of the country.

Download the City Fund audited statements of accounts.

City's Cash

This is an endowment fund built up over the last eight centuries. Its incomes are derived mainly from property, supplemented by investment earnings and the fund is now 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 of 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 & Drama – all these are paid for by City's Cash at no cost to the public.

Download the City's Cash accounts from the statements of accounts' page.

Bridge House Estates

The City Corporation is the sole trustee of Bridge House Estates, a charity whose origins date back more than 900 years. Bridge House Estates owns and maintains five of London’s most iconic Thames bridges: Tower Bridge, London Bridge, Southwark Bridge, the Millennium Bridge and Blackfriars Bridge.

The maintenance and replacement of these bridges is the primary objective of the charity. However, since 1995 the charity’s large investment portfolio has also supported an extensive grant-making operation. The charity is now the largest independent funder in London, under the trusteeship of the City Corporation.

City Bridge Foundation is the public-facing brand and website for Bridge House Estates.

Download the Bridge House Estates annual reports from the statements of accounts' page.