11 Financial Monitoring report 2020/21 - November 2020 PDF 550 KB
Additional documents:
Decision:
RESOLVED:
1. Thatthefinancialreportingdatafor month 8, November2020,relatingto revenuebudgetarycontrol,showinga forecastnet adverse varianceat year-endof £2.8m be noted.
2. That the contents of section 4 of the report be noted and the adjustments to the Capital Programme in Appendix 5b be approved.
3. That the contents of Section 4 and Appendix 5b of the report be noted and the amendments to the Programme contained in the Table below be approved:
|
|
Budget 2020-21 |
Budget 2021-22 |
Budget 2022-23 |
Narrative |
- |
- |
£ |
£ |
£ |
|
Corporate Services |
- |
|
|
|
|
Customer Contact |
(1) |
(158,200) |
158,200 |
|
Reprofiled in line with projected spend |
Civic Centre Boiler Replacement |
(1) |
(201,480) |
201,460 |
|
Reprofiled in line with projected spend |
Westminster Coroners Court |
(1) |
(460,000) |
460,000 |
|
Reprofiled in line with projected spend |
Multi-Functioning Device (MFD) |
(1) |
130,000 |
|
|
Provision for 5 rather than 3 Year Lease |
Clarion CPO |
(2) |
(4,079,460) |
1,657,620 |
2,421,840 |
Reprofiled in line with projected spend |
Community and Housing |
|
|
|
|
|
Learning Disability Affordable Housing |
(1) |
(250,000) |
(771,000) |
1,021,000 |
Reprofiled in line with projected spend |
Children, Schools and Families |
|
|
|
|
|
Melrose SEMH Unit |
(1) |
(300,000) |
300,000 |
|
Reprofiled in line with projected spend |
Environment and Regeneration |
|
|
|
|
|
Lamp Column Chargers |
(1) |
157,000 |
|
|
OLEV Grant |
Casualty Reduction in Schools |
(1) |
276,000 |
|
|
Additional TfL Funding |
Crown Creative Knowledge Exchange |
(1) |
(150,000) |
150,000 |
|
Reprofiled in line with projected spend |
Morden Town Centre Improvements |
(1) |
(100,000) |
100,000 |
|
Reprofiled in line with projected spend |
LBM Replacement of Fleet Vehicles |
(1) |
(168,410) |
133,410 |
|
Reprofiled in line with projected spend |
Highway Bridges and Structures |
(1) |
(474,000) |
474,000 |
|
Reprofiled in line with projected spend |
Car Park Upgrades |
(1) |
(125,000) |
125,000 |
|
Reprofiled in line with projected spend |
Cycle access/parking |
(1) |
120,500 |
|
|
Additional TfL Funding |
Cycle Lane Works Plough Lane |
(1) |
(200,000) |
200,000 |
|
Reprofiled in line with projected spend |
Wimbledon Pk Waterplay Feature |
(1) |
(226,000) |
226,000 |
|
Reprofiled in line with projected spend |
Paddling Pools Waterplay Feature – Option 2 |
(1) |
(113,000) |
113,000 |
|
Reprofiled in line with projected spend |
Total |
|
(6,322,050) |
3,527,690 |
3,442,840 |
|
(1) Requires Cabinet approval (2) Requires Council approval
Minutes:
The Cabinet Member for Finance presented the report which set out the budget position for November 2020 and thanked the officers involved for their work on controlling and monitoring budgets in such challenging circumstances. He highlighted the key points for consideration and the changes from the previous month’s position. Despite the additional Covid funding, the Council was still left with an overall deficit of nearly £7.5m as a result of the pandemic which was despite the Government pledge that it would fund the pandemic response. Forecasting also showed that had the pandemic not happened, the Council would have been posting a surplus for 2020/21. The report also reflected the second national lockdown in November, but did not reflect the subsequent changes in tiers and the third national lockdown. The overall position remained uncertain, which made it very difficult to forecast and had been made more challenging by the Government’s decision to give a one year rather than three year financial settlement and a number of one-off grants. The impact of Covid would be felt into the next financial year and it was important for the Council, along with the LGA, to press the Government to fully recompense local authorities for the cost of the pandemic response.
The Director of Corporate Services advised that although the current lockdown would have an impact on income and expenditure, some of that may be offset by further fees and charges grant, although it would only represent 75% of some of the Council’s income, commercial or industrial income would not be included.
RESOLVED:
1. Thatthefinancialreportingdatafor month 8, November2020,relatingto revenuebudgetarycontrol,showinga forecastnet adverse varianceat year-endof £2.8m be noted.
2. That the contents of section 4 of the report be noted and the adjustments to the Capital Programme in Appendix 5b be approved.
3. That the contents of Section 4 and Appendix 5b of the report be noted and the amendments to the Programme contained in the Table below be approved:
|
|
Budget 2020-21 |
Budget 2021-22 |
Budget 2022-23 |
Narrative |
- |
- |
£ |
£ |
£ |
|
Corporate Services |
- |
|
|
|
|
Customer Contact |
(1) |
(158,200) |
158,200 |
|
Reprofiled in line with projected spend |
Civic Centre Boiler Replacement |
(1) |
(201,480) |
201,460 |
|
Reprofiled in line with projected spend |
Westminster Coroners Court |
(1) |
(460,000) |
460,000 |
|
Reprofiled in line with projected spend |
Multi-Functioning Device (MFD) |
(1) |
130,000 |
|
|
Provision for 5 rather than 3 Year Lease |
Clarion CPO |
(2) |
(4,079,460) |
1,657,620 |
2,421,840 |
Reprofiled in line with projected spend |
Community and Housing |
|
|
|
|
|
Learning Disability Affordable Housing |
(1) |
(250,000) |
(771,000) |
1,021,000 |
Reprofiled in line with projected spend |
Children, Schools and Families |
|
|
|
|
|
Melrose SEMH Unit |
(1) |
(300,000) |
300,000 |
|
Reprofiled in line with projected spend |
Environment and Regeneration |
|
|
|
|
|
Lamp Column Chargers |
(1) |
157,000 |
|
|
OLEV Grant |
Casualty Reduction in Schools |
(1) |
276,000 |
|
|
Additional TfL Funding |
Crown Creative Knowledge Exchange |
(1) |
(150,000) |
150,000 |
|
Reprofiled in line with projected spend |
Morden Town Centre Improvements |
(1) |
(100,000) |
100,000 |
|
Reprofiled in line with projected spend |
LBM Replacement of Fleet Vehicles |
(1) |
(168,410) ... view the full minutes text for item 11 |