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Financial Report 2018/19 – September 2018
Meeting: 12/11/2018 - Cabinet (Item 10)
10 Financial Report 2018/19 – September 2018 
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Decision:
RESOLVED
1. That the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £1.92 million, 0.36% of gross budget be noted;
2. That the virement of £100k between Environment & Regeneration & Corporate Services in relation to the funding of RingGo card processing charges be approved.
3. That the virement of £302k between Community Care Placement Contingency and Housing Related Support (both in Adult Social Care placements) be approved and it be noted that the savings were allocated to an incorrect cost centre at the start of the financial year.
4. That the position in respect of the Capital Programme contained in Appendix 5b be noted and the items in the Table below be approved:
|
Scheme |
|
2018/19 Budget |
2019/20 Budget |
Narrative |
|
Corporate Services |
||||
|
Planning and Public Protection |
(1) |
(199,730) |
199,730 |
Reflects Projected Spending Pattern |
|
Housing Company |
(1) |
(200,000) |
200,000 |
Reflects current projected spending pattern |
|
Children, School and Families |
||||
|
Cricket Green expansion |
(1) |
(150,000) |
150,000 |
Reflects the estimated programme post contract award |
|
Healthy Schools |
(1) |
188,630 |
0 |
Funded by CSF grant |
|
Environment and Regeneration |
||||
|
Highway Bridges and Structures |
(1) |
200,000 |
(200,000) |
Re-profiled in accordance with projected spend |
|
Polka Theatre |
(1) |
0 |
150,000 |
To achieve ongoing revenue savings |
|
Bus Priority Scheme |
(1) |
(150,000) |
0 |
Correction to TfL Schemes |
|
Mitcham Town Centre |
(1) |
(435,680) |
425,000 |
CIL scheme re-profiled |
|
School Part Time Road Closure |
(1) |
74,000 |
0 |
TfL funded scheme |
|
Total |
|
(672,780) |
924,730 |
|
Minutes:
The Deputy Leader and Cabinet Member for Finance presented the financial monitoring report and highlighted that the projected overspend of just under £2m for 2018/19 which represented 0.36% of the Council’s overall budget, which was a relatively small part of that budget. He thanked all those involved in writing the report for budgeting effectively.
The Director of Corporate Services advised that the income report was showing an improvement and page 27 of the report showed improvement in deliverability of savings. The report would also be considered by the Financial Monitoring Task Group.
RESOLVED
1. That the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £1.92 million, 0.36% of gross budget be noted;
2. That the virement of £100k between Environment & Regeneration & Corporate Services in relation to the funding of RingGo card processing charges be approved.
3. That the virement of £302k between Community Care Placement Contingency and Housing Related Support (both in Adult Social Care placements) be approved and it be noted that the savings were allocated to an incorrect cost centre at the start of the financial year.
4. That the position in respect of the Capital Programme contained in Appendix 5b be noted and the items in the Table below be approved:
|
Scheme |
|
2018/19 Budget |
2019/20 Budget |
Narrative |
|
Corporate Services |
||||
|
Planning and Public Protection |
(1) |
(199,730) |
199,730 |
Reflects Projected Spending Pattern |
|
Housing Company |
(1) |
(200,000) |
200,000 |
Reflects current projected spending pattern |
|
Children, School and Families |
||||
|
Cricket Green expansion |
(1) |
(150,000) |
150,000 |
Reflects the estimated programme post contract award |
|
Healthy Schools |
(1) |
188,630 |
0 |
Funded by CSF grant |
|
Environment and Regeneration |
||||
|
Highway Bridges and Structures |
(1) |
200,000 |
(200,000) |
Re-profiled in accordance with projected spend |
|
Polka Theatre |
(1) |
0 |
150,000 |
To achieve ongoing revenue savings |
|
Bus Priority Scheme |
(1) |
(150,000) |
0 |
Correction to TfL Schemes |
|
Mitcham Town Centre |
(1) |
(435,680) |
425,000 |
CIL scheme re-profiled |
|
School Part Time Road Closure |
(1) |
74,000 |
0 |
TfL funded scheme |
|
Total |
|
(672,780) |
924,730 |
|