Decision details
2016/17 Housing Revenue Account Budget Management Provisional Outturn Report (subject to audit)
Decision Maker: EXECUTIVE
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
The report sets out the Housing Revenue
Account (HRA) 2016/17 provisional outturn revenue and capital
position as at March 2017 (subject to audit).
Decision:
1. That the provisional Revenue outturn position to achieve a balanced budget with a contribution to HRA Reserves of £7.190M be approved, thus strengthening the Council’s ability to invest and improve its stock of Council Houses.
2. That the provisional Capital outturn, which is £5.813M lower than budget be approved. It is proposed that works to the value of £4.009M are deferred to 2017/18. These works relate to Future Investment (£3.706M) and Stock Protection (£0.303M).
3. To note that Right to Buy (RtB) sales are at a similar level to the previous financial year, with retained receipts of £2.583M. In addition sales of shared ownership properties generated £4.253M, resulting in a year end balance, after funding of the Capital programme, of unapplied capital receipts of £6.473M.
4. To note that there was a contribution of £1.296M from the Independent Living Development Reserve to fund spend at Priory View (£1.005M) and Houghton Regis Central (£0.291M). A further contribution of £1.575M has been made from the Strategic Reserve, to fund the transfer of assets from the General Fund.
5. That the net increase in reserves, which is £4.319m be noted. At the year end, the HRA will have £23.771M of reserves available, of which £2.0M is identified as a minimum level of HRA Balances.
Report author: Denis Galvin
Publication date: 22/06/2017
Date of decision: 20/06/2017
Decided at meeting: 20/06/2017 - EXECUTIVE
Effective from: 30/06/2017
Accompanying Documents: