Housing Revenue Account Budget Monitoring September 2017 (Quarter 2)
Decision Maker: EXECUTIVE
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
The report provides information on the 2017/18 Housing Revenue Account (HRA) projected outturn revenue and capital position as at September 2017.
1. That the revenue forecast position to achieve a balanced budget with a contribution to HRA Reserves of £6.182M, thus strengthening the Council’s ability to invest and improve its stock of Council homes, be noted.
2. To note that the capital forecast position indicates a net outturn of £8.227M against a budget of £14.342M. The deferral of £2.539M of future investment works to 2018/19, be approved.
3. That Right to Buy (RtB) sales will be monitored for the possible impact on predicted surpluses in the medium to longer term.
4. That the virement of the underspend at Croft Green (£3.725M) to the New Build and Acquisitions budget line, to enable further purchases of properties that will address the increasing temporary accommodation pressure in the General Fund, be approved.
Report author: Denis Galvin
Publication date: 07/12/2017
Date of decision: 05/12/2017
Decided at meeting: 05/12/2017 - EXECUTIVE
Effective from: 15/12/2017