Housing Revenue Account Budget Monitoring - September 2018 (Quarter 2)
Decision Maker: EXECUTIVE
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
To report the quarter 2 housing revenue account budget monitoring 2018/19 report.
1. That the revenue forecast of a balanced budget with a contribution to HRA Reserves of £6.660M, be noted thus strengthening the Council’s ability to invest and improve its stock of Council Houses.
2. To note that the capital forecast position indicates a net outturn of £22.838M, representing a positive variance against budget of £2.292M, with proposals for slippage of £2.265M.
3. That the proposal that principal debt repayment, budgeted at £0.200M for 2018/19, should not occur, due to the recent announcements concerning the scrapping of the HRA debt cap and the potential to take out additional borrowing to build more homes.
4. That Right to Buy (RtB) sales be monitored for the possible impact on predicted surpluses in the medium to longer term.
Report author: Denis Galvin
Publication date: 06/12/2018
Date of decision: 04/12/2018
Decided at meeting: 04/12/2018 - EXECUTIVE
Effective from: 14/12/2018