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Issue - meetings
Financial Report 2018/19 – June 2018
Meeting: 17/09/2018 - Cabinet (Item 6)
6 Financial Report 2018/19 – June 2018 
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Decision:
RESOLVED:
1. That the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £2.6 million, 0.5% of gross budget be noted.
2. That the adjustments to the Capital Programme contained in Appendix 5b of the Cabinet report be noted and the changes summarised in the Table below be approved:
|
Scheme |
2018/19 Budget |
2019/20 Budget |
2020/21 Budget |
2021/22 Budget |
Funding/Re-profiling |
|
Children, Schools and Families |
|||||
|
Cricket Green |
195,560 |
0 |
0 |
0 |
Virement |
|
Scheme 4 New School Extra 6fe |
(195,560) |
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Virement |
|
Environment and Regeneration |
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|
Mitcham Regen - Canons Parks for People |
(2,533,020) |
1,000,000 |
1,000,000 |
533,020 |
Re-profiling majority Specific Government Grant |
|
Parks - Canons Parks for People |
(1,178,770) |
500,000 |
500,000 |
178,770 |
Re-profiling majority Specific Government Grant |
|
Total |
(3,711,790) |
1,500,000 |
1,500,000 |
711,790 |
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Minutes:
The Deputy Leader and Cabinet Member for Finance presented both the Financial Monitoring reports for June and July. He detailed the overspend which had reduced since June and outlined the recommendations with a number of virements proposed.
The Assistant Director of Resources advised that the figures in the reports would be subject to change as the Council progressed through the remainder of the financial year.
RESOLVED:
1. That the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £2.6 million, 0.5% of gross budget be noted.
2. That the adjustments to the Capital Programme contained in Appendix 5b of the Cabinet report be noted and the changes summarised in the Table below be approved:
|
Scheme |
2018/19 Budget |
2019/20 Budget |
2020/21 Budget |
2021/22 Budget |
Funding/Re-profiling |
|
Children, Schools and Families |
|||||
|
Cricket Green |
195,560 |
0 |
0 |
0 |
Virement |
|
Scheme 4 New School Extra 6fe |
(195,560) |
|
|
|
Virement |
|
Environment and Regeneration |
|||||
|
Mitcham Regen - Canons Parks for People |
(2,533,020) |
1,000,000 |
1,000,000 |
533,020 |
Re-profiling majority Specific Government Grant |
|
Parks - Canons Parks for People |
(1,178,770) |
500,000 |
500,000 |
178,770 |
Re-profiling majority Specific Government Grant |
|
Total |
(3,711,790) |
1,500,000 |
1,500,000 |
711,790 |
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