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Agenda item
Financial Monitoring Report - Period 6 September 2021
Decision:
RESOLVED:
A. That Cabinet noted the financial reporting data for month 6, September 2021, relating to revenue budgetary control, showing a forecast net adverse variance at year end on net service expenditure of £6.197m, increasing to £7.687m when corporate and funding items are included.
B. That Cabinet approved a draw down of £250k from the Your Merton reserve to E&R revenue budgets to fund a series of street and parks improvement projects within the department.
C. That Cabinet noted the contents of Section 5 and Appendix 5b of the report and approve the adjustments to the Capital Programme in the Table below:
|
|
Budget 2021-22 |
Budget 2022-23 |
Budget 2023-24 |
Budget 2024-25 |
Narrative |
|
|
£ |
£ |
|
£ |
|
|
Corporate Services |
|
|
|
|
|
|
Invest to Save – General |
(473,690) |
273,690 |
|
|
Re-profiled in line with projected spend |
|
Invest to Save - Photovoltanics |
(50,000) |
50,000 |
|
|
Re-profiled in line with projected spend |
|
Community and Housing |
|
||||
|
Disabled Facilities Grant |
262,410 |
|
220,000 |
440,410 |
Grant for 2021-22 Applied to Prog. |
|
Children, Schools and Families |
|
||||
|
West Wimbledon Capital Maintenance Budget |
75,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Hatfeild Capital Maintenance Budget |
60,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Hillcross Capital Maintenance Budget |
105,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Joseph Hood Capital Maintenance Budget |
37,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Dundonald Capital Maintenance Budget |
(1,990) |
|
|
|
Virements-projected spend capital maintenance |
|
Merton Park Capital Maintenance Budget |
50,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Pelham Capital Maintenance Budget |
35,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Wimbledon Chase Capital Maintenance Budget |
40,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Abbotsbury Capital Maintenance Budget |
18,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Malmesbury Capital Maintenance Budget |
13,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Bond Capital Maintenance Budget |
35,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Cranmer Capital Maintenance Budget |
50,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Haslemere Capital Maintenance Budget |
90,000 |
|
|
|
Virements-projected spend capital maintenance |
|
St Mark’s Capital Maintenance Budget |
65,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Lonesome Capital Maintenance Budget |
35,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Sherwood Capital Maintenance Budget |
30,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Unallocated Capital Maintenance Budget |
(786,010) |
|
|
|
£xk virement to specific schemes |
|
Perseid Capital Maintenance Budget |
50,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Unlocated SEN – Medical PRU Expansion |
(300,000) |
300,000 |
|
|
Re-profiled in accordance with projected Spend |
|
Environment and Regeneration |
|
|
|
|
|
|
SLWP – General |
(8,080) |
8,080 |
|
|
Re-profiled in accordance with projected Spend |
|
SLWP – Waste Bins |
(13,350) |
13,350 |
|
|
NCIL Capital Bidding 2021-22 |
|
Mitcham Area Regen – Pollards Hill Bus Shelter |
|
150,000 |
|
|
NCIL Capital Bidding 2021-22 |
|
Highways & Footways – S Wimb Bus Area Wayfinding |
|
135,630 |
|
|
NCIL Capital Bidding 2021-22 |
|
Highways & Footways – Street Lighting Wimb |
(261,680) |
261,680 |
|
|
Re-profiled in accordance with projected Spend |
|
Cycle Route Imps – Cycle Lane Plough Lane |
(120,000) |
120,000 |
|
|
Re-profiled in accordance with projected Spend |
|
Wimb Area Regen – Wimb Public Realm Implement |
(401,190) |
401,190 |
|
|
Re-profiled in accordance with projected Spend |
|
Wimb Area Regen – Haydons Rd Public Realm Imps |
(300,000) |
300,000 |
|
|
Re-profiled in accordance with projected Spend |
|
Total |
(1,665,580) |
2,013,620 |
220,000 |
440,410 |
|
D. That Cabinet approved the Revenue NCIL Bids below as contained in Appendix 5d – these are summarised below:
|
Revenue Schemes |
Budget 2021-22 £ |
Budget 2022-23 £ |
|
The Small Quarter: Community growing and culture space |
|
38,914 |
|
The Mitcham Colour Way |
|
3,500 |
|
Attic’s Creative Community Engagement Programme |
|
42,549 |
|
Sherwood Park Café and Mini Golf |
|
60,000 |
|
Uptown Youth Services |
|
30,000 |
|
Martin Way – Greener, Brighter & Revitalised |
|
27,335 |
|
Merton Garden Streets 2022 |
|
31,288 |
|
Museum of Wimbledon Refurbishment Project (Grant) |
|
50,000 |
|
Energy Matters: Building the next generation of energy champions |
|
88,823 |
|
There’s More to Morden |
|
35,000 |
|
20mph banners |
|
35,000 |
|
Community Champions 2022: Building social capital in Merton’s journey towards net zero |
57,600 |
6,400 |
|
The Wheel – A Circular Economy for Merton |
|
75,000 |
|
Parade Programme Management top-up |
|
27,500 |
|
Total Revenue Schemes |
57,600 |
551,309 |
E. That Cabinet approved the use of £802,000 of the Climate Change reserve for carbon reduction and the delivery of Merton’s Climate Action Plan across 2021/22 (£20k) and 2022/23 (£782k). Further allocations for future years will be required and will be built in to the business plan.
Minutes:
The Cabinet Member for Finance presented the report, thanking officers for their work, noting that the forecast net variance had increased from the previous report, with the cost of Covid remaining the primary factor for this.
In regards to the Dedicated Schools Grant, the Council continued in discussions with the Department for Education but was unlikely to have any resolution on those discussions until early 2022.
The Director of Corporate Services advised that the report would be discussed by the Financial Monitoring Task Group at their next meeting and noted that an invoice recently paid by the CCG had improved the position.
The Chair thanked the officers for their work and it was RESOLVED:
A. That Cabinet noted the financial reporting data for month 6, September 2021, relating to revenue budgetary control, showing a forecast net adverse variance at year end on net service expenditure of £6.197m, increasing to £7.687m when corporate and funding items are included.
B. That Cabinet approved a draw down of £250k from the Your Merton reserve to E&R revenue budgets to fund a series of street and parks improvement projects within the department.
C. That Cabinet noted the contents of Section 5 and Appendix 5b of the report and approve the adjustments to the Capital Programme in the Table below:
|
|
Budget 2021-22 |
Budget 2022-23 |
Budget 2023-24 |
Budget 2024-25 |
Narrative |
|
|
£ |
£ |
|
£ |
|
|
Corporate Services |
|
|
|
|
|
|
Invest to Save – General |
(473,690) |
273,690 |
|
|
Re-profiled in line with projected spend |
|
Invest to Save - Photovoltanics |
(50,000) |
50,000 |
|
|
Re-profiled in line with projected spend |
|
Community and Housing |
|
||||
|
Disabled Facilities Grant |
262,410 |
|
220,000 |
440,410 |
Grant for 2021-22 Applied to Prog. |
|
Children, Schools and Families |
|
||||
|
West Wimbledon Capital Maintenance Budget |
75,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Hatfeild Capital Maintenance Budget |
60,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Hillcross Capital Maintenance Budget |
105,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Joseph Hood Capital Maintenance Budget |
37,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Dundonald Capital Maintenance Budget |
(1,990) |
|
|
|
Virements-projected spend capital maintenance |
|
Merton Park Capital Maintenance Budget |
50,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Pelham Capital Maintenance Budget |
35,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Wimbledon Chase Capital Maintenance Budget |
40,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Abbotsbury Capital Maintenance Budget |
18,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Malmesbury Capital Maintenance Budget |
13,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Bond Capital Maintenance Budget |
35,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Cranmer Capital Maintenance Budget |
50,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Haslemere Capital Maintenance Budget |
90,000 |
|
|
|
Virements-projected spend capital maintenance |
|
St Mark’s Capital Maintenance Budget |
65,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Lonesome Capital Maintenance Budget |
35,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Sherwood Capital Maintenance Budget |
30,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Unallocated Capital Maintenance Budget |
(786,010) |
|
|
|
£xk virement to specific schemes |
|
Perseid Capital Maintenance Budget |
50,000 |
|
|
|
Virements-projected spend capital maintenance |
|
Unlocated SEN – Medical PRU Expansion |
(300,000) |
300,000 |
|
|
Re-profiled in accordance with projected Spend |
|
Environment and Regeneration |
|
|
|
|
|
|
SLWP – General |
(8,080) |
8,080 |
|
|
Re-profiled in accordance with projected Spend |
|
SLWP – Waste Bins |
(13,350) |
13,350 |
|
|
NCIL Capital Bidding 2021-22 |
|
Mitcham Area Regen – Pollards Hill Bus Shelter |
|
150,000 |
|
|
NCIL Capital Bidding 2021-22 |
|
Highways & Footways – S Wimb Bus Area Wayfinding |
|
135,630 |
|
|
NCIL Capital Bidding 2021-22 |
|
Highways & Footways – Street Lighting Wimb |
(261,680) |
261,680 |
|
|
Re-profiled in accordance with projected Spend |
|
Cycle Route Imps – Cycle Lane Plough Lane |
(120,000) |
120,000 |
|
|
Re-profiled in accordance with projected Spend |
|
Wimb Area Regen – Wimb Public Realm Implement |
(401,190) |
401,190 |
|
|
Re-profiled in accordance with projected Spend |
|
Wimb Area Regen – Haydons Rd Public Realm Imps |
(300,000) |
300,000 |
|
|
Re-profiled in accordance with projected Spend |
|
Total |
(1,665,580) |
2,013,620 |
220,000 |
440,410 |
|
D. That Cabinet approved the Revenue NCIL Bids below as contained in Appendix 5d – these are summarised below:
|
Revenue Schemes |
Budget 2021-22 £ |
Budget 2022-23 £ |
|
The Small Quarter: Community growing and culture space |
|
38,914 |
|
The Mitcham Colour Way |
|
3,500 |
|
Attic’s Creative Community Engagement Programme |
|
42,549 |
|
Sherwood Park Café and Mini Golf |
|
60,000 |
|
Uptown Youth Services |
|
30,000 |
|
Martin Way – Greener, Brighter & Revitalised |
|
27,335 |
|
Merton Garden Streets 2022 |
|
31,288 |
|
Museum of Wimbledon Refurbishment Project (Grant) |
|
50,000 |
|
Energy Matters: Building the next generation of energy champions |
|
88,823 |
|
There’s More to Morden |
|
35,000 |
|
20mph banners |
|
35,000 |
|
Community Champions 2022: Building social capital in Merton’s journey towards net zero |
57,600 |
6,400 |
|
The Wheel – A Circular Economy for Merton |
|
75,000 |
|
Parade Programme Management top-up |
|
27,500 |
|
Total Revenue Schemes |
57,600 |
551,309 |
E. That Cabinet approved the use of £802,000 of the Climate Change reserve for carbon reduction and the delivery of Merton’s Climate Action Plan across 2021/22 (£20k) and 2022/23 (£782k). Further allocations for future years will be required and will be built in to the business plan.
Supporting documents:
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