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Financial Monitoring Report - Period 2 May 2021
Meeting: 12/07/2021 - Cabinet (Item 12)
12 Financial Monitoring Report - Period 2 May 2021 
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Decision:
RESOLVED:
A. That Cabinet noted the financial reporting data for month 2, May 2021, relating to revenue budgetary control, showing a forecast net adverse variance at yearend on net service expenditure of £3.39m, reducing to £1.1m when corporate and funding items are included.
B. That Cabinet approved a virement to transfer £46,820 budget from Corporate Services to C&H to reflect a change in structure for one post previously within the Client Financial Affairs team That Cabinet note the contents of Section 5 of the report and approve the adjustments to the Capital Programme in the Table below:
|
|
Budget 2021-22 |
Budget 2022-23 |
Budget 2023-24 |
Budget 2024-25 |
Narrative |
|
|
£ |
£ |
|
£ |
|
|
Corporate Services |
|
|
|
|
|
|
Customer Contact |
(150,000) |
150,000 |
0 |
0 |
Reprofiled in line with projected spend |
|
Payroll System |
153,200 |
|
|
|
Drawdown from a Corporate Reserve |
|
Acquisitions Budget |
200,000 |
0 |
0 |
(200,000) |
Property Purchase |
|
Community and Housing |
|||||
|
West Barnes Library Re-Fit |
(200,000) |
|
|
200,000 |
Re-profiled Budget |
|
Children, Schools and Families |
|||||
|
Harris Morden - Morden Multi Sport Community Pitch |
135,000 |
|
|
|
Virement to fund revised scheme |
|
Environment and Regeneration |
|||||
|
Morden Rec Hockey Pitch |
(135,000) |
|
|
|
Virement to fund revised scheme |
|
Pay and Display Machines- Emissions Based Charging |
333,000 |
|
|
|
Virement to fund Emission Based Charging Scheme |
|
Car Park Upgrades |
(333,000) |
|
|
|
Virement to fund Emission Based Charging Scheme |
|
Morden Park Cycle Path |
227,220 |
|
|
|
Additional TfL Funding |
|
Accesibility Programme |
51,520 |
|
|
|
Additional TfL Funding |
|
Traffic Schemes |
3,000 |
|
|
|
Additional TfL Funding |
|
Cycle Improve Residential Stre |
(9,210) |
|
|
|
S106 £20,550 |
|
Unallocated TFL |
(272,530) |
|
|
|
Virement from Unallocated TfL Budge |
|
Total |
3,200 |
150,000 |
0 |
0 |
|
Minutes:
The Leader of the Council presented the report and thanked all staff involved, noting there was a modest favourable variance at the time of the report.
The Chief Executive noted that the Council was continuing to respond to the pandemic and that those related financial pressures would continue.
RESOLVED:
A. That Cabinet noted the financial reporting data for month 2, May 2021, relating to revenue budgetary control, showing a forecast net adverse variance at yearend on net service expenditure of £3.39m, reducing to £1.1m when corporate and funding items are included.
B. That Cabinet approved a virement to transfer £46,820 budget from Corporate Services to C&H to reflect a change in structure for one post previously within the Client Financial Affairs team That Cabinet note the contents of Section 5 of the report and approve the adjustments to the Capital Programme in the Table below:
|
|
Budget 2021-22 |
Budget 2022-23 |
Budget 2023-24 |
Budget 2024-25 |
Narrative |
|
|
£ |
£ |
|
£ |
|
|
Corporate Services |
|
|
|
|
|
|
Customer Contact |
(150,000) |
150,000 |
0 |
0 |
Reprofiled in line with projected spend |
|
Payroll System |
153,200 |
|
|
|
Drawdown from a Corporate Reserve |
|
Acquisitions Budget |
200,000 |
0 |
0 |
(200,000) |
Property Purchase |
|
Community and Housing |
|||||
|
West Barnes Library Re-Fit |
(200,000) |
|
|
200,000 |
Re-profiled Budget |
|
Children, Schools and Families |
|||||
|
Harris Morden - Morden Multi Sport Community Pitch |
135,000 |
|
|
|
Virement to fund revised scheme |
|
Environment and Regeneration |
|||||
|
Morden Rec Hockey Pitch |
(135,000) |
|
|
|
Virement to fund revised scheme |
|
Pay and Display Machines- Emissions Based Charging |
333,000 |
|
|
|
Virement to fund Emission Based Charging Scheme |
|
Car Park Upgrades |
(333,000) |
|
|
|
Virement to fund Emission Based Charging Scheme |
|
Morden Park Cycle Path |
227,220 |
|
|
|
Additional TfL Funding |
|
Accesibility Programme |
51,520 |
|
|
|
Additional TfL Funding |
|
Traffic Schemes |
3,000 |
|
|
|
Additional TfL Funding |
|
Cycle Improve Residential Stre |
(9,210) |
|
|
|
S106 £20,550 |
|
Unallocated TFL |
(272,530) |
|
|
|
Virement from Unallocated TfL Budge |
|
Total |
3,200 |
150,000 |
0 |
0 |
|