Council Meeting 11 March 2021
Virement

1. As a result of significant expenditure on the tennis courts, by the end of Q3
the Playing Fields Committee had only £1273.25 remaining of its budget of
£19063.00.

2. In January 2021 expenditure totalled £566.58 and in February 2021,
£1728.86, a total of £2295.44 for the first two months of the quarter. This
meant that the Committee was overspent in the sum of £1022.19. Known
commitments for March total £651.97 and other payments may become due
as invoices are rendered before the end of the financial year.

3. In order for the Committee to break even over the financial year a virement
from an underspent budget head of another committee is necessary. In the
Strategy, Policy and Finance Committee budget there is a budget head of
£3500 for Parish Office set-up costs. As the majority of the set-up costs were
made from the 2019/20 budget, this budget head is largely unspent with only
one item of expenditure at £199.00. With £3301 unspent and with no prospect
of further expenditure in this financial year, a virement could be made to the
Playing Fields Committee contingency fund thereby enabling the Playing
Fields Committee to break even over the financial year, with no detriment to
the Strategy, Policy and Finance Committee.

4. At the moment the actual sum required to achieve this is unknown. It will
certainly be £1674.16 but could be more if outstanding invoices are submitted.
In these circumstances it would be prudent to authorise a virement up to the
amount of the available sum but with only the required amount being taken at
the end of the financial year.

5. It is RECOMMENDED that a virement of up to £3301 be made from the
Strategy, Policy and Finance Committee Parish Office set-up budget to the
Playing Fields Committee contingency budget to enable the Playing Fields
Committee to end the financial year showing neither a positive nor negative
budget outcome.

Graham White
Parish Clerk
4 March 2021