Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: February 12, 2025

Purpose: To review the financial position of the authority and adjust financial information as appropriate

Content: RESOLVED: That Cabinet A Noted the financial reporting data for period 9 (December) relating to revenue budgetary control, showing a forecast net adverse variance of £9.436m when corporate and funding items are included. B Noted the contents of Section 7 of the report and appendices 5a to 5d and approve the proposed adjustments to the programme in the table over the page:     RevisedBudget 2024-25 £ RevisedBudget 2025-26 £ RevisedBudget 2026-27 £   Explanationfor the Budgetary Change Financeand Digital           Digital Strategy (1)   600,000 600,000 Funded from Capital Receipts TotalFinance and Digital   0 600,000 600,000   Children,Lifelong Learning & Families           Hollymount- Schools Capital Maintenance n/a (5,000)                       Virements between Capital Grant Maintenance Schemes to reflect projected spend levels West Wimbledon- Schools Capital Maintenance n/a (5,480)     Joseph Hood- Schools Capital Maintenance n/a (6,600)     Dundonald- Schools Capital Maintenance n/a (1,270)     Merton Park- Schools Capital Maintenance n/a (9,810)     Pelham- Schools Capital Maintenance n/a (11,000)     Poplar- Schools Capital Maintenance n/a (6,800)     Wimbledon Chase- Schools Capital Maintenance n/a (6,000)     Abbotsbury- Schools Capital Maintenance n/a (8,690) 97,650   Bond- Schools Capital Maintenance n/a (2,000)     Haslemere- Schools Capital Maintenance n/a (12,000)     Liberty- Schools Capital Maintenance n/a (6,000)     Rutlish- Schools Capital Maintenance n/a (10,000)     Cricket Green- Schools Capital Maintenance n/a (7,000)     Mainstream SEN (ARP) - Primary ARP expansion (1) 0 (20,000)   Reprofiled in line with projected Spend Mainstream SEN (ARP) - Wimbledon Chase ARP Expansion (1) 20,000     Reprofiled in line with projected Spend Perseid Lower- Perseid Expansion (1) (250,000) 250,000   Reprofiled in line with projected Spend TotalChildren, Lifelong Learning & Families   (327,650) 327,650 0   Environment,Civic Pride & Climate           Public Protection and Developm - Health and Safety Accide (1) 25,000     Reprofiled in line with projected Spend CCTV Investment- Willow Ln Bridge Improvements (1)   (26,790) 26,790   Implementation of an Accident/Incident Reporting System funded by Merton Highways & Footways- Street Lighting Replacement Pr (1) 20,400 (20,400)   Reprofiled in line with projected Spend Highways & Footways- Accesibility Programme (1) (35,000) 35,000   TfL Budget Reprofiled in line with projected Spend Highways & Footways- Casualty Reduction & Schools (1) (60,000) 60,000   TfL Budget Reprofiled in line with projected Spend Highways & Footways- Traffic Schemes (1)   420,000 140,000 SCIL Funded Addition Cycle Route Improvements- Cycle Route Improvements (1) 5,310     TFL Budget Increased Sports Facilities - Boro of Sport Infrastruct Fund (1) (300,000) 300,000   Reprofiled in line with projected Spend Parks-Cricket Green Ward - Table Tennis Table (1) (1,900)     Scheme Complete NCIL Budget Relinquished Parks-Ravensbury Ward - Table Tennis Table (1) (4,300)     Scheme Complete NCIL Budget Relinquished Parks-Parks Investment (1) (9,600) 320,000   Vired to cover additional costs in Cannizaro Park Safety - £250,000 SCIL Funding and £80k Revenue Reserves Parks-Cannizaro Park Safety (1) 9,600     Budget Vired from Parks Investment to Cover Additional Costs Parks-Bridges and Structures (1) 10,790 (10,790)   Reprofiled in line with projected Spend Parks-Martin Way Green - Bright/Rev (1) (1,810)     Scheme Complete Budget Relinquished TotalEnvironment, Civic Pride & Climate   (368,300) 1,130,600 140,000   Housing& Sustainable Development           Disabled Facilities Grant - Unfunded DFG Grant (1) 30,000     Grant does not meet funding criteria but will provide a revenue saving - funded by a revenue contribution Borough Regeneration-Shop Front Improvement (1) 95,000 (95,000)   Reprofiled in line with projected Spend Borough Regeneration-Civic Pride Pub Realm Improve (1) 100,000 (100,000)   Reprofiled in line with projected Spend TotalHousing & Sustainable Development   225,000 (195,000) 0   OverallTotal   (470,950) 1,863,250 740,000               n/a As agreed in June 2023 monitoring report schools’ capital maintenance budgets are funded by one government grant and although on different cost centres are treated as one budget for monitoring and budget management. (1)          Requires Cabinet and CMT Approval (2)          Requires Council Approval