Decision Log 52/2020 – 2nd Quarter 2020/21 Financial Performance and Budget Virements

Decision Log 52/2020 – 2nd Quarter 2020/21 Financial Performance and Budget Virements

Police and Crime Commissioner for Surrey – Decision Making Record

Report Title:  2nd Quarter 2020/21 Financial Performance and Budget Virements

Decision number: 52/2020

Author and Job Role: Kelvin Menon – Treasurer

Protective Marking: OFFICIAL

Executive Summary:

The Financial Monitoring report for the 2nd Quarter of the financial year shows that Surrey Police Group is predicted to be £0.7m under budget by the end of March 2021 based on performance so far. This is based on an approved budget of £250m for the year. Capital is predicted to be £2.6m underspent depending on the timing of projects.

Financial Regulations state that all budget virements over £0.5m must be approved by the PCC. These are set out in Appendix D of the attached report.

Background

Now that we are half way through the financial year the indications are that the Surrey Police Group will remain within budget for the 2020/21 financial year and potentially have a small underspend. This is after absorbing £2.3m of non-reimbursed Covid costs. Although there are some areas that are overspent, such as overtime this is offset by underspends elsewhere in the budget.

Capital is predicted to be £2.6m underspent however it is likely that this will be larger as expenditure so far has been £3.5m against a budget of £17.0m. However rather than projects being cancelled they are more likely to slip in to the following year.

The budget virements requested are set out in Appendix D and mainly relate to the reanalysis of staffing costs within the budget

Recommendation:

Police and Crime Commissioner Approval

I note the financial performance as at the 330th September 2020 and approve the virements set out in Appendix 4 of the attached report.

Signature: David Munro

Date:     17th November 2020

All decisions must be added to the decision register.

Areas of consideration

Consultation

None

Financial implications

These are set out in the paper (available on request)

Legal

None

Risks

As it is early in the year there is a risk that the predicted financial outturn could change as the year progresses

Equality and diversity

None

Risks to human rights

None

By |2020-11-20T10:11:56+00:00November 20th, 2020|Decisions, Decisions Archive|Comments Off on Decision Log 52/2020 – 2nd Quarter 2020/21 Financial Performance and Budget Virements