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Decision details
July Financial Monitoring Report
Decision Maker: Cabinet
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To review the financial position of the
authority and adjust financial information as appropriate
Decision:
RESOLVED:
A. That Cabinet note the financial reporting data for month 4, July 2022, relating to revenue budgetary control, showing a forecast net adverse variance at 31 July on service expenditure of £5.448m when corporate and funding items are included and £3.412m of reserves assumed to be used as agreed at the Cabinet meeting on the 18 July.
B. That CMT note the contents of Section 5 and approve the adjustments to the Capital Programme contained in Appendix 5b
That Cabinet note the contents of Section 5 and Appendix 5b of the report and approve the adjustments to the Capital Programme in the Table below:
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Budget |
Budget |
Budget |
Narrative |
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£ |
£ |
£ |
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Corporate Services |
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|
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Customer Contact - Fix My Streets |
(1) |
50,000 |
|
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Priority project from IT Implementation List |
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Business Systems - Parking System |
(1) |
|
95,110 |
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Funded by the OCPB Reserve |
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Children, Schools and Families |
|
|
|
|
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|
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Joseph Hood - Schools Capital Maintenance |
(1) |
(66,120) |
66,120 |
|
Reprofiled in line with projected spend |
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Dundonald - Schools Capital Maintenance |
(1) |
(12,000) |
|
|
Reprofiled in line with projected spend |
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Raynes Park - Schools Capital Maintenance |
(1) |
12,000 |
|
|
Reprofiled in line with projected spend |
||
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Perseid Lower School - School Expansion |
(1) |
100,000 |
1,500,000 |
2,516,860 |
Splitting Perseid Lower Expansion from Perseid Upper |
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Perseid School - School Expansion |
(1) |
(100,000) |
(1,500,000) |
(2,516,860) |
Splitting Perseid Lower Expansion from Perseid Upper |
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Mainstream SEN (ARP) - West Wimbledon ARP |
(1) |
40,000 |
(40,000) |
|
Reprofiled in line with projected spend |
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Environment and Regeneration |
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On Street Parking - P&D - Pay and Display Machines |
(1) |
(200,000) |
|
|
As Emissions based Charging is not being progressed unspent budget being vired back to Car Park Upgrades |
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Off Street Parking - P&D - Car Park Upgrades |
(1) |
260,000 |
|
|
Virement of projected unspent budget back to Car P ark Upgrades from Pay and Display Machine Upgrade |
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Off Street Parking - P&D - Peel House Car Park* |
(2) |
700,000 |
|
|
Funding Required to undertake structural works |
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Off Street Parking - P&D - Pay and Display Machines |
(1) |
|
|
(60,000) |
Reprofiled in line with projected spend pattern and vired to Car Park Upgrades |
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Highways and Footways - Bishopsford Bridge |
(1) |
35,000 |
|
|
Virement from Cycleway schme to fund projected outturn on the scheme |
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Highways and Footways - Cycle Lane Roadway Bishopsford Bridge |
(1) |
(47,000) |
|
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Virement to main Bishopsford Bridge Scheme and relinquish projected underspend |
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Mitcham Area Regeneration - Pollards Hill Bus Shelter |
(1) |
(100,000) |
100,000 |
|
Reprofiled in line with projected spend |
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Morden Area Regeneration - Morden Town centre Imp |
(1) |
(200,000) |
200,000 |
|
Reprofiled in line with projected spend |
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Parks - New water play feature wimb pk |
(1) |
(226,000) |
226,000 |
|
Reprofiled in line with projected spend |
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Parks - Multi Use Sports Areas |
(1) |
175,000 |
|
(175,000) |
Reprofiled in line with projected spend |
||
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Parks - Figges Marsh Ward Allocation - Figges Marsh |
(1) |
10,020 |
|
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Table Tennis Table funded by NCIL |
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Parks - Graveney Ward Allocation - Edenvale Rec |
(1) |
10,020 |
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Table Tennis Table funded by NCIL |
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Parks - Lavender Fields Ward Alloc - Lavender Park |
(1) |
10,020 |
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Table Tennis Table funded by NCIL |
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Parks - Longthornton Ward Alloc - Long Bolstead Rec |
(1) |
10,020 |
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Table Tennis Table funded by NCIL |
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Parks - Colliers Wood Rec Playground |
(1) |
2,190 |
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Additional NCIL Funding |
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Total |
|
463,150 |
647,230 |
(235,000) |
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C. That Cabinet ask CMT to investigate and report back on measures to reduce the adverse variance.
Report author: Ellis Kelly
Publication date: 26/09/2022
Date of decision: 22/09/2022
Decided at meeting: 22/09/2022 - Cabinet
Effective from: 30/09/2022
Accompanying Documents:
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