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Agenda item

December Financial Monitoring Report

Decision:

RESOLVED:

A. That Cabinet noted the financial reporting data for month 9, December 2022, relating to revenue budgetary control, showing a forecast net favourable variance at 31st December on service expenditure of £0.875m when corporate and funding items are included.

B. 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 2022-23	Budget 2023-24	Budget 2024-25	Budget 2025-26	Narrative
	£	£	£	£
CorporateServices
CustomerContact- Customer Contact Programme	(144,190)	(516,910)			Virement in accordance withProjected Spend-Capitalised Salaries
CustomerContact- ActiveDirectory	235,700				Virement in accordance withProjected Spend-Capitalised Salaries
CustomerContact- DataSecurity andControl	289,700				Virement in accordance withProjected Spend-Capitalised Salaries
CustomerContact- End UseDevice	53,100				Virement in accordance withProjected Spend-Capitalised Salaries
CustomerContact- VirtualDesktop	82,600				Virement in accordance withProjected Spend-Capitalised Salaries
Invest toSave- De-Carbonisation Scheme	12,110				Fundingfromgrantto include retention payments
Children,SchoolsandFamilies
CSF Safeguarding - Children'sSafeguarding	165,000				Contribto HousePurchase to stop child going intoSENResidential Placement
EnvironmentandRegeneration
StreetTrees - HarrisAcademy &HighPath Street Trees	50,000				New S106 Project
HighwaysandFootways- AccessibilitySchemes	(5,000)	5,000			TfLApprovedSlippagefor TfL Funded Scheme
HighwaysandFootways- Casualty Reduction	(47,000)	34,000			TfLApprovedSlippagefor TfL Funded Scheme- £13k moved to Revenue
CycleRouteImprovements- Cycleaccess/parking	(114,000)	114,000			TfLApprovedSlippagefor TfL Funded Scheme
CycleRouteImprovements - CycleImprove ResidentialStre	(123,000)	116,000			TfLApprovedSlippagefor TfL Funded Scheme- £7k moved to Revenue
Mitcham Regeneration - SMCA Springboard		87,000			SuccessfulBidfor Civic Pride- Investing in Neighbourhoodsin 2023-24
Mitcham Regeneration - MitchamCricketGreen		54,000			SuccessfulBidfor Civic Pride- Investing in Neighbourhoodsin 2023-24
Mitcham Regeneration - TheSmallQuarter Phase2		22,000			SuccessfulBidfor Civic Pride- Investing in Neighbourhoodsin 2023-24
Mitcham Regeneration - Chapter House		33,000			SuccessfulBidfor Civic Pride- Investing in Neighbourhoodsin 2023-24
Wimbledon RegenerationParksInvestment- Kenilworth GreenPocketPark		65,000			SuccessfulBidfor Civic Pride- Investing in Neighbourhoodsin 2023-24

C. That Cabinet approved the 8 Revenue Civic Pride – Investing in Neighbourhoods Bids below as contained in Appendix 5d – these are summarised below:

Proposed 8 Civic Pride – Investing in Neighbourhoods Revenue Allocations 2023-24

Bid ID	Projectname	2023-24 Revenue £
2&3	Repairsto GradeII ListedTudorWallSt. Mary’sMertonParkChurchyard	20,000
4	CommunityChampions,moresustainableMerton	51,836
5	MertonGardenStreets2023	35,373
6	MertonSportsCoachingAcademy	144,275
8	TowardsEmployment	74,960
32	UptownYouthServices	15,000
40	VestryHall - MitchamArtsCollective	12,000
45	ReadySteadyCookCR4CommunityCookingClasses	42,750
46	The Wheel	63,615
Total		459,809

Minutes:

The Cabinet Member for Finance and Corporate Services presented the report noting that the net position had moved favourable alongside a reduction in departmental variances.

The Interim Executive Director Finance and Digital advised that an update was attached to the report on the debt arrears position which would be considered by the Financial Monitoring Task Group and also noted that the expenditure incurred on emergency incidents over the previous year had been included within the main report.