Part 2: Local Democracy and Devolution Financial matters relating to mayors Section 41: Mayors for CCA areas: financial matters Effect
Subsection (1) enables the Secretary of State to make regulations for the costs of a mayor for the area of a CCA that are incurred in, or in connection with, the exercise of mayoral functions to be met by precepts issued by the CCA under section 40 of the Local Government Finance Act 1992 (‘the 1992 Act’).
	Subsection (2) provides that only the mayor, acting on behalf of the CCA, may issue precepts for mayoral functions within the meaning of subsection (8).
	Subsection (3) allows the Secretary of State to make regulations to modify the application of Chapter 4 or 4ZA of Part 1 of the 1992 Act to apply where a mayoral CCA is a precepting authority.
	Subsection (4) provides that, where a mayor has functions of a Police and Crime Commissioner, the precept is required to have two components: one for the mayor's PCC functions and one for their general functions. Calculating the PCC component of the precept will be a PCC function exercisable only by the mayor.
	Subsection (5) provides that the Secretary of State may by regulations make provision (a) requiring the mayor to maintain a fund in relation to receipts arising and liabilities incurred, in the exercise of the mayor's general functions, and (b) about the preparation of an annual mayoral budget for general functions. Provisions relating to the mayor’s police and crime commissioner functions are in Schedule 3 paragraph 7.
	Subsection (6) provides that regulations about the preparation of a mayoral budget may in particular make provision for (a) the mayor to prepare a draft budget, (b) the scrutiny of the draft budget, (c) the making of changes to the budget following scrutiny, (d) the approval of the draft budget by the CCA, and (e) the basis on which such approval is to be given.
	Subsection (7) provides that reference to a member of the CCA for the purposes of scrutinising the draft budget does not include non-constituent or associate members.