Purpose

Quarter 1 Financial Monitoring
Report

Decision

RESOLVED:
 

A.   
That Cabinet noted the financial reporting data for quarter 1, June
2023, relating to revenue budgetary control, showing a forecast net
adverse variance at 30th June on service expenditure of
£8.186m when corporate and funding items are included.

B.   
That Cabinet noted the contents of Section 5 and Appendix 5b of the
report and approved the adjustments to the Capital Programme in the
Table below:
 

 

Budget
2022-23

Budget
2023-24

Budget
2024-25

Budget
2025-26

Narrative

£

£

£

£

 

Children, Lifelong Learning & Families

 

 

 

 

 

Hillcross - Capital
Maintenance

1,950

 

 

 

Virement from the Unallocated
Capital Maint. Budget

Wimbledon Park - Capital
Maintenance

(67,850)

 

 

 

Virement to the Unallocated Capital
Maint. Budget

Abbotsbury - Capital
Maintenance

96,980

 

 

 

Virement from the Unallocated
Capital Maint. Budget

Malmesbury - Capital
Maintenance

(1,990)

 

 

 

Virement to the Unallocated Capital
Maint. Budget

Liberty - Capital
Maintenance

(430)

 

 

 

Virement to the Unallocated Capital
Maint. Budget

St Marks Primary - Capital
Maintenance

(650)

 

 

 

Virement to the Unallocated Capital
Maint. Budget

Sherwood - Capital
Maintenance

(17,200)

 

 

 

Adjustment to Budget as Lighting
Scheme not progressed and school contrib reduced

Unallocated - Capital
Maintenance

(28,010)

 

 

 

Virement to Various Capital Maint.
Schemes

Raynes Park - Capital
Maintenance

(36,790)

 

 

 

Virement to the Rutlish Capital
Maint. Budget

Rutlish - Capital
Maintenance

36,790

 

 

 

Virement from the Raynes Park
Capital Maint. Budget

Perseid School Expansion

(50,000)

50,000

 

 

Re-profiled in accordance with
projected spend

Second school ARP expansion
4

(20,000)

20,000

 

 

Re-profiled in accordance with
projected spend

Second school ARP expansion
3

(20,000)

20,000

 

 

Re-profiled in accordance with
projected spend

Primary school ARP
expansion

(10,000)

10,000

 

 

Re-profiled in accordance with
projected spend

Ricards Lodge - 6th Form
Expansion(a)

50,000

3,550,000

 

 

DfE Post 16 Capacity Funding
£3,235,706 and School Contrib £364,294 match
funding

Environment and Regeneration

 

 

 

 

 

Parks Investment - New Green
Flag

12,000

 

 

 

New Grant from GLA for Schools
Suprezones

Sports Facilities - Tennis Big
Screens

60,000

 

 

 

Funded from Reserves

Morden Leisure Centre - New Running
Track

(350,000)

350,000

 

 

Re-profiled in accordance with
projected spend

Parks Investment - Abbey Recreation
Ground

(7,210)

 

 

 

£7,210 Spent in
Revenue

CCTV Investment - CCTV cameras &
infrast upgrade

(439,730)

439,730

 

 

Re-profiled in accordance with
projected spend

Raynes Park Area Roads - Raynes Park
Station Pub Realm

5,870

 

 

 

Additional S106 Funding

Highways and Footways - Casualty
Reduction & Schools

(9,100)

 

 

 

TfL budget reduced as moved to
Revenue Budgets

Parks Investment - Tennis Court
Major Resurfacing

185,590

(35,590)

(75,000)

(75,000)

Re-profiled in accordance with
projected spend

Housing & Sustainavble Development

 

 

 

 

 

Major Projects - Affordable Ho -
Affordable Housing Fund

(4,522,490)

4,522,490

 

 

Re-profiled in accordance with
projected spend

Mitcham Area Regeneration -
Knowledge Exchange Mitcham

266,500

 

 

 

Funding from South London
Partnerships

Wimbledon Area Regeneration -
Wimbledon Hill Rd

92,000

 

 

 

Virement between interlinked
schemes

Wimbledon Area Regeneration - Wimb
Public Realm Implement

(92,000)

 

 

 

Virement between interlinked
schemes

Total

(4,865,770)

8,926,630

(75,000)

(75,000)

 

(a)           
Requires Council Approval
 
 
C. That Cabinet
recommended to Council to approve Ricards Lodge Sixth Form
Expansion scheme of £3,600,000 noting the information
contained in 5.2b(ii)