The report provides information on the 2013/14 Housing Revenue Account (HRA) projected outturn revenue and capital position as at September 2013.

1.         That the Revenue forecast position is to achieve a balanced budget with a contribution to Housing Revenue Account Reserves of £7.131m, thus strengthening the Council’s ability to invest and improve its stock of Council Houses.

2.         That the Capital forecast position indicates that expenditure will be £2.345m less than the budget.  This is due to lower than anticipated expenditure on the Dukeminster project and implementation of Housing Asset Management Strategy.

3.         That Right to Buy sales will be monitored for the possible impact on predicted surpluses in the medium to longer term.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources and the Executive Member for Social Care, Health and Housing that provided information on the 2013/14 Housing Revenue Account projected outturn revenue and capital position as at September 2013.

Reason for decision:  To facilitate effective financial management and planning.

RESOLVED

1.         that the revenue forecast position was to achieve a balanced budget with a contribution to Housing Revenue Account Reserves of £7.131m, thus strengthening the Council’s ability to invest and improve its stock of Council Houses;

2.         that the capital forecast position indicated that expenditure would be £2.345m less than the budget.  This was due to lower than anticipated expenditure on the Dukeminster project and implementation of Housing Asset Management Strategy; and

3.         that Right to Buy sales would be monitored for the possible impact on predicted surpluses in the medium to longer term.

The report provides information on the projected capital outturn for 2013/14 as at September 2013. 

1.      To note that the overall forecast position is to spend £76.2m compared to budget of £94.6m, a variance of £18.4m as a result of an underspend of £0.8m.

2.      To defer spend to 2014/15 of £19.2m.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that provided information on the projected capital outturn for 2013/14 as at September 2013. 

Reason for decision:  To complete schemes currently underway and facilitate effective financial management and planning.

RESOLVED

1.      to note that the overall forecast position was to spend £76.2m compared to budget of £94.6m, a variance of £18.4m as a result of an underspend of £0.8m; and

2.      to defer spend to 2014/15 of £19.2m.

The report sets out the financial position for 2013/14 as at the end of September 2013. It sets out spend to date against the profiled budget and the forecast financial outturn.

1.      That the revenue forecast position is noted as a projected overspend of £1.8M.

2.      That officers continue with their efforts to achieve a minimum balanced outturn or an underspend.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the financial position for 2013/14 as at the end of September 2013.  The report set out the spend to date against the profiled budget and the forecast financial outturn.

In response to a question, the Executive Member for Social Care, Health and Housing confirmed that identifying residents who self fund their own care was challenging.  It was anticipated that the introduction of the proposed Care Bill would provide challenges as well as greater opportunities to engage with self funders.

Reason for decision:  To facilitate effective financial management and planning.

RESOLVED

1.      that the revenue forecast position be noted as a projected overspend of £1.8M; and

2.      that officers continue with their efforts to achieve a minimum balanced outturn or an underspend.