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Decision details

Financial Monitoring Report 2017-18 - September 2017

Decision Maker: Cabinet

Decision status: Recommmend Forward to Council

Is Key decision?: No

Is subject to call in?: Yes


Provides a summary of the financial position as at September 2017 including a forecast position a year end and a forecast position




1.            That financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £1.6million, 0.3% of the gross budget be noted.

2.            That Cabinet and Council approve the following adjustments to the Capital Programme:



2017/18 Budget

2018/19 Budget




Corporate Services

Invest to Save schemes



Re-profiling in accordance with projected spend

Children, Schools & Families

Sherwood Schools Capital maintenance



Essential H&S Works

Cricket Green School Expansion



Vired from Unlocated SEN

Unlocated SEN



Vired to Cricket Green

Harris Academy Wimbledon



Re-profiling in accordance with projected spend

Harris Academy Merton



Capital Budget will be utilised under the Better Care Fund

Environment & Regeneration

Industrial Estates



Budget relinquished as no plans to spend

Morden Leisure Centre



Slippage to 18/19 in line with current build programme.





3.            That in respect of capital expenditure incurred before 1 April 2008, Cabinet recommends to the Council that the Minimum Revenue Provision Policy be revised to read:


“For capital expenditure incurred before 1 April 2008 or by Supported Capital Expenditure, the MRP policy will be the equal annual reduction of 2% of the outstanding debt at 1 April 2017 for the subsequent 50 years”


The remainder of the MRP Policy Statement will remain as approved by Council on 1 March 2017.

Report author: Zoe Church

Publication date: 15/11/2017

Date of decision: 13/11/2017

Decided at meeting: 13/11/2017 - Cabinet

Effective from: 21/11/2017

Accompanying Documents: