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Financial Monitoring November 2019
Meeting: 27/01/2020 - Cabinet (Item 8)
8 Financial Monitoring November 2019 
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Decision:
RESOLVED:
1. That Cabinet note the financial reporting data for month 8, November 2019, relating to revenue budgetary control, showing a forecast net underspend at year-end of £378k, -0.1% of gross budget.
2. That Cabinet note the contents of Section 4 and the amendments to the Capital Programme contained in Appendix 5b and approve the amendments in the Table below:
|
Scheme |
2019/20 Budget |
2020/21 Budget |
Narrative |
|
Corporate Service |
|
|
|
|
Invest to Save |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Planned Replacement Programme – Data Centre |
(150,000) |
150,000 |
Re-profiled in accordance with projected spend |
|
Planned Replacement Programme – Equipment Purchase |
100,000 |
0 |
Vired from Corporate Cap Maint to cover projected costs |
|
Other Buildings – Capital Maintenance |
(100,000) |
0 |
Vired to IT Planned Rep Prog to cover projected costs |
|
Housing Company |
(1,564,460) |
1,564,460 |
Re-profiled in accordance with projected spend |
|
Westminster Coroners Court |
(455,000) |
455,000 |
Re-profiled in accordance with projected spend |
|
Children, Schools and Families |
|
|
|
|
Cricket Green – Capital Maintenance |
102,250 |
0 |
Vired from various Cap Maint Schemes to cover projected costs |
|
Cricket Green Expansion |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Environment and Regeneration |
|
|
|
|
Replacement Fleet Vehicles |
(284,000) |
284,000 |
Re-profiled in accordance with projected spend |
|
Highways & Footways – Traffic Schemes |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Highways & Footways – Bridges and Structures |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Wimbledon Area Regen – Crowded Places/Hostile Vehicle |
(259,030) |
268,000 |
Re-profiled in accordance with projected spend |
|
Borough Regeneration – Haydons Rd Shopfronts |
(204,000) |
204,000 |
Re-profiled in accordance with projected spend |
|
Parks Investment – Canons Parks for the People |
(688,300) |
688,300 |
Re-profiled in accordance with projected spend |
|
Mitcham Area Regen – Canons Parks for the People |
(1,244,290) |
1,244,290 |
Re-profiled in accordance with projected spend |
|
Morden Leisure Centre |
(231,820) |
|
Scheme complete relinquished budget |
|
Sports Facilities – Wimbledon Park Lake |
(1,318,160) |
1,318,160 |
Re-profiled in accordance with projected spend |
|
Parks Investment – Resurface Tennis Courts (Wimb Pk) |
150,440 |
|
Funded by a contribution from a renewal reserve |
|
Total |
(6,546,370) |
6,576,210 |
|
Minutes:
The Deputy Leader and Cabinet Member for Finance presented the report, thanking the officers involved for compiling the information. He welcomed the good practice which had helped with the planning for the budget. He highlighted the concerns over the financial pressures on the Council which had led to some growth proposed in the budget item. Overall the Council was projecting a small underspend which was welcomed.
The Director of Corporate Services drew Cabinet’s attention to the capital adjustments proposed, which was usual for month 8. The DSG deficit had increased from last month due to the continued pressure of additional young people requiring Education Health and Care Plans.
RESOLVED:
1. That Cabinet note the financial reporting data for month 8, November 2019, relating to revenue budgetary control, showing a forecast net underspend at year-end of £378k, -0.1% of gross budget.
2. That Cabinet note the contents of Section 4 and the amendments to the Capital Programme contained in Appendix 5b and approve the amendments in the Table below:
|
Scheme |
2019/20 Budget |
2020/21 Budget |
Narrative |
|
Corporate Service |
|
|
|
|
Invest to Save |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Planned Replacement Programme – Data Centre |
(150,000) |
150,000 |
Re-profiled in accordance with projected spend |
|
Planned Replacement Programme – Equipment Purchase |
100,000 |
0 |
Vired from Corporate Cap Maint to cover projected costs |
|
Other Buildings – Capital Maintenance |
(100,000) |
0 |
Vired to IT Planned Rep Prog to cover projected costs |
|
Housing Company |
(1,564,460) |
1,564,460 |
Re-profiled in accordance with projected spend |
|
Westminster Coroners Court |
(455,000) |
455,000 |
Re-profiled in accordance with projected spend |
|
Children, Schools and Families |
|
|
|
|
Cricket Green – Capital Maintenance |
102,250 |
0 |
Vired from various Cap Maint Schemes to cover projected costs |
|
Cricket Green Expansion |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Environment and Regeneration |
|
|
|
|
Replacement Fleet Vehicles |
(284,000) |
284,000 |
Re-profiled in accordance with projected spend |
|
Highways & Footways – Traffic Schemes |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Highways & Footways – Bridges and Structures |
(100,000) |
100,000 |
Re-profiled in accordance with projected spend |
|
Wimbledon Area Regen – Crowded Places/Hostile Vehicle |
(259,030) |
268,000 |
Re-profiled in accordance with projected spend |
|
Borough Regeneration – Haydons Rd Shopfronts |
(204,000) |
204,000 |
Re-profiled in accordance with projected spend |
|
Parks Investment – Canons Parks for the People |
(688,300) |
688,300 |
Re-profiled in accordance with projected spend |
|
Mitcham Area Regen – Canons Parks for the People |
(1,244,290) |
1,244,290 |
Re-profiled in accordance with projected spend |
|
Morden Leisure Centre |
(231,820) |
|
Scheme complete relinquished budget |
|
Sports Facilities – Wimbledon Park Lake |
(1,318,160) |
1,318,160 |
Re-profiled in accordance with projected spend |
|
Parks Investment – Resurface Tennis Courts (Wimb Pk) |
150,440 |
|
Funded by a contribution from a renewal reserve |
|
Total |
(6,546,370) |
6,576,210 |
|