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Issue - decisions

Financial Monitoring Report - Period 6 September 2021

10/11/2021 - Financial Monitoring Report - Period 6 September 2021

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.