Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Quarter 1 Financial Monitoring
Report
RESOLVED:
A. That Cabinet noted the financial reporting data for quarter 1, June 2023, relating to revenue budgetary control, showing a forecast net adverse variance at 30th June on service expenditure of £8.186m when corporate and funding items are included.
B. That Cabinet noted the contents of Section 5 and Appendix 5b of the report and approved the adjustments to the Capital Programme in the Table below:
|
Budget |
Budget |
Budget |
Budget |
Narrative |
£ |
£ |
£ |
£ |
|
|
Children, Lifelong Learning & Families |
|
|
|
|
|
Hillcross - Capital Maintenance |
1,950 |
|
|
|
Virement from the Unallocated Capital Maint. Budget |
Wimbledon Park - Capital Maintenance |
(67,850) |
|
|
|
Virement to the Unallocated Capital Maint. Budget |
Abbotsbury - Capital Maintenance |
96,980 |
|
|
|
Virement from the Unallocated Capital Maint. Budget |
Malmesbury - Capital Maintenance |
(1,990) |
|
|
|
Virement to the Unallocated Capital Maint. Budget |
Liberty - Capital Maintenance |
(430) |
|
|
|
Virement to the Unallocated Capital Maint. Budget |
St Marks Primary - Capital Maintenance |
(650) |
|
|
|
Virement to the Unallocated Capital Maint. Budget |
Sherwood - Capital Maintenance |
(17,200) |
|
|
|
Adjustment to Budget as Lighting Scheme not progressed and school contrib reduced |
Unallocated - Capital Maintenance |
(28,010) |
|
|
|
Virement to Various Capital Maint. Schemes |
Raynes Park - Capital Maintenance |
(36,790) |
|
|
|
Virement to the Rutlish Capital Maint. Budget |
Rutlish - Capital Maintenance |
36,790 |
|
|
|
Virement from the Raynes Park Capital Maint. Budget |
Perseid School Expansion |
(50,000) |
50,000 |
|
|
Re-profiled in accordance with projected spend |
Second school ARP expansion 4 |
(20,000) |
20,000 |
|
|
Re-profiled in accordance with projected spend |
Second school ARP expansion 3 |
(20,000) |
20,000 |
|
|
Re-profiled in accordance with projected spend |
Primary school ARP expansion |
(10,000) |
10,000 |
|
|
Re-profiled in accordance with projected spend |
Ricards Lodge - 6th Form Expansion(a) |
50,000 |
3,550,000 |
|
|
DfE Post 16 Capacity Funding £3,235,706 and School Contrib £364,294 match funding |
Environment and Regeneration |
|
|
|
|
|
Parks Investment - New Green Flag |
12,000 |
|
|
|
New Grant from GLA for Schools Suprezones |
Sports Facilities - Tennis Big Screens |
60,000 |
|
|
|
Funded from Reserves |
Morden Leisure Centre - New Running Track |
(350,000) |
350,000 |
|
|
Re-profiled in accordance with projected spend |
Parks Investment - Abbey Recreation Ground |
(7,210) |
|
|
|
£7,210 Spent in Revenue |
CCTV Investment - CCTV cameras & infrast upgrade |
(439,730) |
439,730 |
|
|
Re-profiled in accordance with projected spend |
Raynes Park Area Roads - Raynes Park Station Pub Realm |
5,870 |
|
|
|
Additional S106 Funding |
Highways and Footways - Casualty Reduction & Schools |
(9,100) |
|
|
|
TfL budget reduced as moved to Revenue Budgets |
Parks Investment - Tennis Court Major Resurfacing |
185,590 |
(35,590) |
(75,000) |
(75,000) |
Re-profiled in accordance with projected spend |
Housing & Sustainavble Development |
|
|
|
|
|
Major Projects - Affordable Ho - Affordable Housing Fund |
(4,522,490) |
4,522,490 |
|
|
Re-profiled in accordance with projected spend |
Mitcham Area Regeneration - Knowledge Exchange Mitcham |
266,500 |
|
|
|
Funding from South London Partnerships |
Wimbledon Area Regeneration - Wimbledon Hill Rd |
92,000 |
|
|
|
Virement between interlinked schemes |
Wimbledon Area Regeneration - Wimb Public Realm Implement |
(92,000) |
|
|
|
Virement between interlinked schemes |
Total |
(4,865,770) |
8,926,630 |
(75,000) |
(75,000) |
|
(a) Requires Council Approval
C. That Cabinet recommended to Council to approve Ricards Lodge Sixth Form Expansion scheme of £3,600,000 noting the information contained in 5.2b(ii)
Report author: Roger Kershaw
Publication date: 19/07/2023
Date of decision: 17/07/2023
Decided at meeting: 17/07/2023 - Cabinet
Effective from: 25/07/2023
Accompanying Documents: