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Decision details
Financial Monitoring August (2014/15)
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
Financial Monitoring August (2014/15)
Decision:
RESOLVED:
That Cabinet:
1. notes the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £5.28 million, 3.2% of the net budget, an increase of £1.6m from last month.
2. notes that the Public Health underspend of £778k and the Local Welfare support underspend of £240k is to be carried forward and therefore a nil variance is reported this month.
3. approves the virement of £170k from reserves to Communications to recruit 2 posts for sales and marketing to provide strategic advice, commercial working and drive forward the project to increase income in the borough. The funding is required for 2 years.
4. notes the adjustments in Appendix 5b and approve the following adjustments:
|
|
£ |
|
|
2014/2015 |
|
Central Road – TfL |
360,000 |
|
Coombe Lane - TfL |
90,000 |
|
|
|
|
|
2014/2015 |
|
Mitcham Major Schemes * |
557,000 |
|
191-3 Western Road |
115,000 |
|
CCTV (Match Funding) |
155,000 |
|
|
|
|
|
2016/2017 |
|
Mitcham Major Schemes * |
885,000 |
|
CCTV (Match Funding) |
300,000 |
|
|
|
|
* ringfenced funding from Transport for London |
|
5. notes the following schemes have been removed from the Capital Programme in Appendix 5b:
|
|
£ |
|
Haydons Road - TfL |
374,000 |
|
B521 Morden Park |
29,780 |
|
B626a-c Cottenham Park and Holland Gardens |
28,000 |
|
London Rd Lower Green to Cricket - TfL |
76,000 |
|
High Path Area (Option 1 and 3) |
6,000 |
|
|
----------- |
|
Total |
523,780 |
Report author: Paul Dale
Publication date: 23/10/2014
Date of decision: 20/10/2014
Decided at meeting: 20/10/2014 - Cabinet
Accompanying Documents:
PDF 18 MB