The Cabinet of Merton Council met on Monday 14 October 2024, approving recommendations for the Affordable Housing Programme, the future use of the former Stanford Primary School site, and the Budget 2025/26 and Medium Term Financial Strategy (MTFS) 2025-29. The meeting also reviewed the Financial Monitoring Report for Period 5.

Affordable Housing Programme

Cabinet approved recommendations for the delivery of the first 93 social rent homes across four sites as part of the Council's sustainable homes programme. This approval follows a Collaboration Agreement entered into in November 2023. The decision includes noting progress on the programme, recommending that Full Council approves an increase to the capital programme and its funding totalling £27.87m, and noting that procurement for construction packages is underway with tenders expected in early 2025. Authority has been delegated to the Executive Director for Housing and Sustainable Development, in consultation with relevant Cabinet Members and the Executive Director of Finance and Digital, for final contract approval. The longer-term officer resource implications have also been noted.

Former Stanford Primary School Site

The Cabinet agreed that the former Stanford Primary School site on Chilmark Road SW16 is surplus to education and other council service requirements. They also agreed that officers in the Housing and Sustainable Development department will bring forward options for the best use of the site, noting the necessary permissions for disposing of school sites. Further financial appraisal and legal due diligence are required to determine the financial advantages of demolishing the building at the earliest opportunity.

Budget 2025/26 and MTFS 2025-29

Cabinet considered and agreed new savings proposals for the period 2025/26 to 2028/29, referring them to the Overview and Scrutiny panels and Commission in November 2024 for comment. They also considered the emerging draft working Equalities Impact Assessments for each saving, where applicable, and referred these to the Overview and Scrutiny panels and Commission for consideration. This forms part of the progress towards setting a balanced budget and council tax for 2025/26, and presents the latest details on the MTFS 2025-29 and Capital Programme 2025-29.

Financial Monitoring Report Period 5

The Cabinet noted the financial reporting data for Period 5 (August), which indicated a forecast net adverse variance of £14.805m when corporate and funding items are included. They also noted the contents of Section 7 of the report and its appendices, approving proposed adjustments to the programme. These adjustments involve reallocating budgets across various departments, including Finance and Digital, Children, Lifelong Learning & Families, and Environment, Civic Pride & Climate. Notably, significant adjustments were made to the Affordable Housing Fund within Housing & Sustainable Development, with substantial allocations for 2025-26, 2026-27, and 2027-28. Some adjustments require Cabinet approval, while the Affordable Housing Fund adjustments will require Council approval.