Central directorates quarterly service report - budget position

Revenue budget

The original cash budget for the department was £10.767 million. Net transfers of £4.623 million have been made bringing the current approved cash budget to £15.390 million. In addition non-cash budget virements of £4.792 million have been made as a result of departmental restructures.

A detailed analysis of the budget changes and variances this quarter can be found below.

In addition the department has identified 8 emerging issues that may affect to the council’s overall financial position:

• The Look Out – potential - £0.060 million additional income from catering function
• The Look Out - net car parking budget projections are that income will exceed expenditure above budgeted expectations by -£0.030 million
• Head of Planning – anticipate -£0.060 million additional CIL income above budget
• Monitoring of Streetworks – projected -£0.060 million of streetwork permit scheme income in excess of budget.
• Head of Planning – 6 planning appeals potentially costing £0.075 million
• Development Control – pressure on income £0.225 million
• Local Development Framework - budget is insufficient to meet commitments to deliver the framework resulting in an anticipated pressure of £0.080 million
• Parks and Countryside - income generated from hay cutting is anticipated to exceed budget by £0.050 million

Capital budget

The committee’s capital budget for the year was set at £12.805 million. This included £5.105 million of externally funded schemes.

In addition to a carry forward of £8.579 million further funding has been received bringing the total budget to £23.947 million as follows:

• S106 - £0.252 million
  • Binfield Community Centre - £0.061 million
  • Wykery Copse - £0.057 million
  • The Parks pitch works - £0.130 million
  • Farley Wood - £0.004 million
• External funding
  • £0.386 million from the DfT
  • £1.8 million from TV LEP for A3095 improvement scheme
  • £0.110 million from Taylor Wimpey for Broad Lane Road Surface Treatments
• Revenue contribution of £0.025 million for South Hill Park foot paths

The department currently anticipates around 55% of the total approved budget to be spent by the end of the financial year. A detailed list of schemes together with their approved budget and forecast spend can be found below.