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Organisational Priorities Finance- Revenue Budget Monitoring

Organisational Priorities Finance- Revenue Budget Monitoring. Forecast underspend for the year on operational activities of £5.3m mainly due to vacancies arising from structural change.

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Organisational Priorities Finance- Revenue Budget Monitoring

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  1. Organisational Priorities Finance- Revenue Budget Monitoring • Forecast underspend for the year on operational activities of £5.3m mainly due to vacancies arising from structural change. • Chief Officers have agreed to utilise these vacancy savings to support Ambition 4000 throughout the current CSR. • Under-spend position includes re-organisation costs of £3.4m.

  2. Organisational Priorities Finance- Capital Budget * includes re-phased projects from 2012/13 • The original capital budget of £19.040m contained within the 2013/14 budget report has now been updated to include the re-phasing agreed as part of the 2012/13 closedown process with a resulting budget of £21.6m • Total capital expenditure to the end of December 2013 was £6.6m with a forecast outturn to the end of March 2014 of £10.7m. • The largest area of underspend relates to the Estate Strategy which has seen some significant change since the original budget was agreed.

  3. Organisational Priorities Finance - Savings Targets • SEP savings targets within the 2013/14 MTFS are expected to be exceeded by £5.0m as a result of initiatives originally scheduled for 2014/15 being implemented ahead of plan. • Overall targeted savings to the end of 2014/15 anticipated as being achievable in full. • The savings targets for 2015/16 and 2016/17 have now been revised to reflect the October CSR with a shortfalls of £17.3m and £16.9m respectively.

  4. Organisational Priorities Finance-– MTFS 2014/15 Budget Report • Funding for 2014/15 has now been confirmed and the shortfall in budget has been addressed through the SEP savings programme and use of the PCSO reserve. • On 26th June 2013 the Government announced plans to make further budget cuts in 2015/16 and 2016/17and indications are that Merseyside Police will be required to save a further £34.2m in 2015/16 and 2016/17.

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