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Issue - meetings
Financial Report 2018/19 – October 2018
Meeting: 10/12/2018 - Cabinet (Item 6)
6 Financial Report 2018/19 – October 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 £1.042 million, 0.19% of gross budget be noted.
2. That the adjustments to the Capital Programme contained in Appendix 5b be approved.
That Cabinet note the adjustments to the Capital Programme contained in Appendix 5b and approve the items in the Table below:
|
Scheme |
|
2018/19 Budget |
2019/20 Budget |
Narrative |
|
Corporate Service |
||||
|
Customer Contact – Echo Integration |
(1) |
100,300 |
0 |
Funded by a Revenue Contribution from reserves to Capital |
|
Regulatory Services Project |
(1) |
96,250 |
0 |
Funded by £8,333 Revenue Contributions from reserves and £87,917 contribution from Other LAs |
|
Parking System |
(1) |
126,000 |
0 |
Funded by a Revenue Contribution from reserves to Capital |
|
Civic Centre – Boilers |
(1) |
(200,000) |
200,000 |
Re-profiled to reflect expected spending patterns |
|
Civic Centre Imp & Adpts to Cttee Rms |
(1) |
88,000 |
0 |
Essential improvements and adaptions to committee rooms |
|
Implementation of 5.5 |
(1) |
79,800 |
0 |
£17,200 funded from virement from Invoice Scanning |
|
Westminster Coroners Court |
(1) |
(460,000) |
460,000 |
Merton’s share of these costs expected in 2019-20 |
|
Total |
|
(169,650) |
660,000 |
|
3. That the Environment and Regeneration alternative savings detailed within Appendix 8 be approved.
4. That the Community and Housing alternative savings detailed within Appendix 9 be approved.
5. That the Community and Housing transport virement in Appendix 10 be approved.
Minutes:
The Deputy Leader and Cabinet Member for Finance presented the financial monitoring report, which was predicting an approximate overspend of £1m by the end of the year which was partly due to the Government not having factored in the impact of the cost of children’s services on the budget. He thanked all those involved in the budget monitoring and keeping within 0.2% of the overall budget.
The Director of Corporate Services added that a prior year adjustment had helped bring the overspend down, and officers were working with departments on some potential slippage into the next financial year. She also drew Cabinet’s attention to the Capital adjustments and virements for approval.
RESOLVED
1. That the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £1.042 million, 0.19% of gross budget be noted.
2. That the adjustments to the Capital Programme contained in Appendix 5b be approved.
That Cabinet note the adjustments to the Capital Programme contained in Appendix 5b and approve the items in the Table below:
|
Scheme |
|
2018/19 Budget |
2019/20 Budget |
Narrative |
|
Corporate Service |
||||
|
Customer Contact – Echo Integration |
(1) |
100,300 |
0 |
Funded by a Revenue Contribution from reserves to Capital |
|
Regulatory Services Project |
(1) |
96,250 |
0 |
Funded by £8,333 Revenue Contributions from reserves and £87,917 contribution from Other LAs |
|
Parking System |
(1) |
126,000 |
0 |
Funded by a Revenue Contribution from reserves to Capital |
|
Civic Centre – Boilers |
(1) |
(200,000) |
200,000 |
Re-profiled to reflect expected spending patterns |
|
Civic Centre Imp & Adpts to Cttee Rms |
(1) |
88,000 |
0 |
Essential improvements and adaptions to committee rooms |
|
Implementation of 5.5 |
(1) |
79,800 |
0 |
£17,200 funded from virement from Invoice Scanning |
|
Westminster Coroners Court |
(1) |
(460,000) |
460,000 |
Merton’s share of these costs expected in 2019-20 |
|
Total |
|
(169,650) |
660,000 |
|
3. That the Environment and Regeneration alternative savings detailed within Appendix 8 be approved.
4. That the Community and Housing alternative savings detailed within Appendix 9 be approved.
5. That the Community and Housing transport virement in Appendix 10 be approved.