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Decision details
Financial Report 2018/19 – May 2018
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
This is the financial monitoring report for
period 2, 31st May 2018 presented in line with the financial
reporting timetable.
Decision:
RESOLVED:
1. That the financial reporting data relating to revenue budgetary
control, showing a forecast net overspend at year end of £2 million be noted.
2. That the adjustments to the Capital Programme contained in
Appendix 5b to the Cabinet report be noted, and the following adjustments to the Capital Programme be approved:
|
Scheme
|
|
2018/19 Budget |
2019/20 Budget |
2020/21 Budget |
2021/22 Budget |
Funding/Re-profiling |
|
Corporate Services |
||||||
|
Aligned Assets |
|
(75,000) |
75,000 |
0 |
0 |
Re-profiling
|
|
Revenue and Benefits |
(1) |
(400,000) |
400,000 |
0 |
0 |
Re-profiling |
|
Capita Housing |
(1) |
(100,000) |
100,000 |
0 |
0 |
Re-profiling
|
|
Planning & Public Protection Sys |
(1) |
(130,000) |
130,000 |
0 |
0 |
Re-profiling |
|
Spectrum Spatial Analyst Repla |
|
(42,000) |
42,000 |
0 |
0 |
Re-profiling
|
|
Replacement SC System |
(1) |
(400,000) |
400,000 |
0 |
0 |
Re-profiling |
|
Acquisitions Budget |
(1) |
(7,101,680) |
|
|
7,101,680 |
Re-profiling |
|
Capital Bidding Fund |
(1) |
(1,186,400) |
|
|
1,186,400 |
Re-profiling |
|
Children, Schools and Families |
||||||
|
Schools Maintenance |
|
85,000 |
0 |
0 |
0 |
School Contributions |
|
Perseid Expansion |
(1) |
260,000 |
0 |
0 |
0 |
Virement |
|
Harris Merton Expansion |
(1) |
(260,000) |
0 |
0 |
0 |
Virement |
|
Harris Wimbledon Expansion |
(1) |
(572,570) |
572,570 |
0 |
0 |
Re-profiling |
|
Devolved Formula Capital |
(1) |
353,390 |
|
|
|
Specific Government Grant |
|
Cricket Green Expansion |
(1) |
(1,000,000) |
1,000,000 |
0 |
0 |
Re-profiling |
|
Environment and Regeneration |
||||||
|
Street Lighting Replacement Pr |
(1) |
(200,000) |
0 |
0 |
0 |
Virement |
|
Borough Roads Maintenance |
(1) |
200,000 |
0 |
0 |
0 |
Virement
|
|
Transportation Enhancements |
(1) |
0 |
(500,000) |
(1,000,000) |
1,500,000 |
Re-profiling |
|
Wandle Project |
(1) |
59,770 |
0 |
0 |
0 |
Section 106 Funding |
|
Shop Front Improvements |
(1) |
264,000 |
|
|
|
CIL Neighbourhood Funding |
|
Polka Theatre (Section 106) |
(1) |
149,950 |
|
|
|
Section 106 Funding |
|
S106 Ravensbury Park Open Space |
(1) |
87,000 |
0 |
0 |
0 |
New S106 Scheme |
|
Total |
|
(10,008,540) |
2,219,570 |
(1,000,000) |
9,788,080 |
|
*items marked with (1) only for Cabinet
3. That the £149,950 Section 106 funding for the Polka Theatre, £87,000 Section 106 funding for Ravensbury Park Open Space and £59,770 Section 106 funding for the Wandle Project be approved.
4. That a virement between the Environment & Regeneration and Corporate Services departments be approved as part of the ongoing process of centralising the authority’s software licences to the Business Improvement division. The virement amount is £10,360 which relates to the Transport Services route optimisation and planning software.
5. That a virement of £350k from Corporate items to Corporate Services be approved to fund the recent local elections.
6. That a virement of £1.5m to gross up the Housing Benefits subsidy received on overpayments to align income and expenditure budgets within Corporate Services be approved.
7. That a release from reserve of £370k relating to the One Public Estate Programme for Wilson Hospital redevelopment (£110k), and Morden Town Centre (£260k) be approved.
8. That a virement of £25k from Corporate Services to E&R for the Christmas lights budget which is managed within sustainable communities be approved.
Report author: Andrew Wood
Publication date: 01/08/2018
Date of decision: 30/07/2018
Decided at meeting: 30/07/2018 - Cabinet
Effective from: 07/08/2018
Accompanying Documents:
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