Greater London is often referred to as "the City" or "the Square Mile" and it forms the main financial district. Archaically, the urbanised area of London was known as the Metropolis. In common usage, the terms "London" and "Greater London" are usually used interchangeably. Greater London is officially divided for some purposes, with varying definitions, into Inner London and Outer London. For some strategic planning purposes it is divided into five sub-regions. Greater London is under the strategic local governance of the Greater London Authority (GLA). It consists of an elected assembly, the London Assembly, and an executive head, the Mayor of
City, University of London Road in Clerkenwell. Other academic sites are: The Rector of City, University of London, is the Lord Mayor of the City of London ex officio. The day-to-day running of the university is the responsibility of the President. The current President is Professor Sir Paul Curran. City, University of London is organised into five schools: In the financial year ended 31 July 2011, City had a total income (including share of joint ventures) of £178.6 million (2008/09 – £174.4 million) and total expenditure of £183.62 million (2008/09 – £178.82 million). Key sources of income included £39.58 million from Funding Council grants