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Agenda item
Financial Monitoring Report - Period 7 October 2021
Decision:
RESOLVED:
A. That Cabinet noted the financial reporting data for month 7, October 2021, relating to revenue budgetary control, showing a forecast net adverse variance at year end on net service expenditure of £5.732m, increasing to £8.534m, an increase of £847k over last month when corporate and funding items are included.
B. That Cabinet noted the contents of Section 5, Appendix 5b and 5d of the report and approved the adjustments to the Capital Programme in the Table below:
|
|
Budget 2021-22 |
Budget 2022-23 |
Narrative |
||
|
CorporateServices |
£ |
£ |
|
||
|
CompulsoryPurchaseOrder -Clarion |
(721,730) |
|
NoCPOsRequiredforRavensbury |
||
|
Customer ContactProgramme |
(200,000) |
200,000 |
Re-profiledin line withprojected spend |
||
|
Westminster CoronersCourt |
(400,000) |
400,000 |
Re-profiledin line withprojectedtiming of spend,liaisingwithWCC over projectcost |
||
|
Children,SchoolsandFamilies |
|
||||
|
WestWimb.- CapitalMaintenanceBudget |
(65,000) |
65,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Hillcross- CapitalMaintenanceBudget |
(63,000) |
63,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
JosephHood- CapitalMaintenanceBudget |
(45,000) |
45,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Dundonald- CapitalMaintenanceBudget |
(20,000) |
20,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Pelham- CapitalMaintenanceBudget |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Wimb.Chase -CapitalMaintenanceBudget |
(35,000) |
35,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Bond- CapitalMaintenanceBudget |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Cranmer- CapitalMaintenanceBudget |
(45,000) |
45,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Links- CapitalMaintenanceBudget |
(20,000) |
20,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
St Marks- CapitalMaintenanceBudget |
(55,000) |
55,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Lonesome- CapitalMaintenanceBudget |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
HarrisAcademyMerton- CommunitySportPitch |
(65,000) |
65,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Rutlish- CapitalMaintenanceBudget |
5,000 |
|
Virements- projected spendcapital maintenance |
||
|
Perseid- CapitalMaintenanceBudget |
(45,000) |
40,000 |
Virements- projected spendcapital maintenance |
||
|
Whately AvenueExpansion |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
UnallocatedSENExpansions |
(30,000) |
30,000 |
Re-profiledin ac |
cordancewithproje |
cted Spend |
|
EnvironmentandRegeneration |
|
||||
|
Highways& Footways- Highways bridges & structures |
105,000 |
|
Re-profiledin accordancewithprojectedSpend |
||
|
Highways& Footways- SaltBarn |
(23,600) |
|
Re-profiledin accordancewithprojectedSpend |
||
|
OnStreetParkingP&D- Payand DisplayMachines |
(303,000) |
303,000 |
Re-profiledin line withprojected spend |
||
|
OffStreet ParkingP&D- CarParkUpgrades |
(465,530) |
465,530 |
Re-profiledin line withprojected spend |
||
|
WimbledonArea Regeneration- CrowdedPlaces-HostileVehicle |
(180,000) |
180,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Mitcham Area Regeneration- CanonsParksforthe People |
590,000 |
|
AdditionalSCILFunding |
||
|
ParksInvestment- CanonsParksforthe People |
150,000 |
|
AdditionalSCILFunding |
||
|
ParksInvestment- SportsDrainage |
150,000 |
|
NewSCILFunding |
||
|
Total |
(1,901,860) |
2,151,530 |
|
||
Minutes:
The Cabinet Member for Finance presented the report, noting that without Coronavirus costs there would have been a net positive variance of £1.9m, however with Coronavirus costs included there was currently a net negative variance of £8.5m. No further Coronavirus related support funding was anticipated.
In relation to the Dedicated Schools Grant, discussions with the Department for Education continued, however resolution was not expected until late January 2022.
The Director of Corporate Services noted that the situation continued to be closely monitored.
The Cabinet Member for Finance thanked officers for their work on the report and on managing budgets across the Council.
RESOLVED:
A. That Cabinet noted the financial reporting data for month 7, October 2021, relating to revenue budgetary control, showing a forecast net adverse variance at year end on net service expenditure of £5.732m, increasing to £8.534m, an increase of £847k over last month when corporate and funding items are included.
B. That Cabinet noted the contents of Section 5, Appendix 5b and 5d of the report and approved the adjustments to the Capital Programme in the Table below:
|
|
Budget 2021-22 |
Budget 2022-23 |
Narrative |
||
|
CorporateServices |
£ |
£ |
|
||
|
CompulsoryPurchaseOrder -Clarion |
(721,730) |
|
NoCPOsRequiredforRavensbury |
||
|
Customer ContactProgramme |
(200,000) |
200,000 |
Re-profiledin line withprojected spend |
||
|
Westminster CoronersCourt |
(400,000) |
400,000 |
Re-profiledin line withprojectedtiming of spend,liaisingwithWCC over projectcost |
||
|
Children,SchoolsandFamilies |
|
||||
|
WestWimb.- CapitalMaintenanceBudget |
(65,000) |
65,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Hillcross- CapitalMaintenanceBudget |
(63,000) |
63,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
JosephHood- CapitalMaintenanceBudget |
(45,000) |
45,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Dundonald- CapitalMaintenanceBudget |
(20,000) |
20,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Pelham- CapitalMaintenanceBudget |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Wimb.Chase -CapitalMaintenanceBudget |
(35,000) |
35,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Bond- CapitalMaintenanceBudget |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Cranmer- CapitalMaintenanceBudget |
(45,000) |
45,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Links- CapitalMaintenanceBudget |
(20,000) |
20,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
St Marks- CapitalMaintenanceBudget |
(55,000) |
55,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Lonesome- CapitalMaintenanceBudget |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
HarrisAcademyMerton- CommunitySportPitch |
(65,000) |
65,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Rutlish- CapitalMaintenanceBudget |
5,000 |
|
Virements- projected spendcapital maintenance |
||
|
Perseid- CapitalMaintenanceBudget |
(45,000) |
40,000 |
Virements- projected spendcapital maintenance |
||
|
Whately AvenueExpansion |
(30,000) |
30,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
UnallocatedSENExpansions |
(30,000) |
30,000 |
Re-profiledin ac |
cordancewithproje |
cted Spend |
|
EnvironmentandRegeneration |
|
||||
|
Highways& Footways- Highways bridges & structures |
105,000 |
|
Re-profiledin accordancewithprojectedSpend |
||
|
Highways& Footways- SaltBarn |
(23,600) |
|
Re-profiledin accordancewithprojectedSpend |
||
|
OnStreetParkingP&D- Payand DisplayMachines |
(303,000) |
303,000 |
Re-profiledin line withprojected spend |
||
|
OffStreet ParkingP&D- CarParkUpgrades |
(465,530) |
465,530 |
Re-profiledin line withprojected spend |
||
|
WimbledonArea Regeneration- CrowdedPlaces-HostileVehicle |
(180,000) |
180,000 |
Re-profiledin accordancewithprojectedSpend |
||
|
Mitcham Area Regeneration- CanonsParksforthe People |
590,000 |
|
AdditionalSCILFunding |
||
|
ParksInvestment- CanonsParksforthe People |
150,000 |
|
AdditionalSCILFunding |
||
|
ParksInvestment- SportsDrainage |
150,000 |
|
NewSCILFunding |
||
|
Total |
(1,901,860) |
2,151,530 |
|
||
Supporting documents:
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