2017/18 Housing Revenue Account Budget Management Outturn Report
Decision Maker: EXECUTIVE
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To report the 2017/18 Housing Revenue Account provisional outturn financial position as at the end of March 2018 (subject to audit).
1. That the provisional revenue outturn position of a surplus of £8.23M, thus strengthening the Council’s ability to invest and improve its stock of Council houses be approved.
2. That the provisional capital outturn of £7.519M and the proposed slippage of £4.944M deferred to 2018/19 be approved. These works relate to Future Investment (£4.797M) and Stock Protection (£0.147M) as set out in table 2 in the report.
3. Noted that the provisional outturn position and new proposed earmarked reserves were approved by the Leader, Deputy Leader and Chief Executive and Director of Resources under a delegated approval granted by the Executive on 3 April 2018.
4. To note that Right to Buy sales were slightly higher than previous financial years, with retained receipts totalling £3.928M, resulting in a year end balance, after funding of the Capital Programme, of unapplied capital receipts of £8.145M.
5. To note that as part of the funding of the Capital Programme there was a contribution of £0.194M from the Independent Living Development Reserve to fund spend at Houghton Regis Central. A further contribution of £2.837M had been made from the Strategic Reserve, towards the Capital Programme (£2.741M) and the transfer of assets from the General Fund (£0.096M).
6. To note that the net increase in reserves was £5.199M, so that, at the year end, the HRA would have £28.97M of reserves available, of which £2.0M was identified as a minimum level of HRA Balances.
Report author: Denis Galvin
Publication date: 15/06/2018
Date of decision: 12/06/2018
Decided at meeting: 12/06/2018 - EXECUTIVE
Effective from: 22/06/2018