To consider the 2015/16 Housing Revenue Account financial Outturn (Revenue & Capital).

1.      That the provisional Revenue outturn be noted, including a balanced budget with a contribution to Housing Revenue Account (HRA) Reserves of £7.488M, thus strengthening the Council’s ability to invest and improve its stock of Council Houses.

2.      That the Capital provisional outturn, which is £5.736M lower than budget, be noted.

3.      That the deferred spend of £4.280M, as detailed in Table 2 of Appendix A, be approved.  These works relate to Future Investment (£3.888M) and Stock Protection (£0.392M).

4.      That it be noted that Right to Buy (RtB) sales are at a similar level to the previous financial year, resulting in a year end balance of unapplied capital receipts of £2.996M.

5.      That it be noted that as part of the funding of the Capital Programme there was a contribution of £7.074M from the Independent Living Development Reserve to fund spend at Priory View (£6.778M) and Houghton Regis Central (£0.296M).

6.      That it be noted that the net decrease in reserves is £1.104M, so that, at the year end, the HRA will have £19.452M of reserves available, of which £2.0M is identified as a minimum level of HRA Balances.