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:

*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.

The Deputy Leader and Cabinet Member for Finance presented the report, thanking officers for their work and highlighting the key items for consideration.  He emphasised that the report should be read in the context of the pressures put on local authorities as part of the government’s austerity agenda and the pressures of an ageing population.  The Cabinet Member highlighted the pressures on children’s services and flagged up the projected overspend due to additional demands on Council services. 

The Director of Corporate Services drew the meeting’s attention to the progress against delivery of savings.  Due to adjustments the projected shortfall had reduced and was projected to reduce further in 2019.  Tracking savings not previously delivered was ensuring the Council kept an overview of the overall budget position.

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:

*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  ...  view the full minutes text for item 7