Issue - meetings

Issue - meetings

Revenue, Capital and Housing Revenue Account (HRA) Quarter 3 Budget Monitoring Reports

Meeting: 18/03/2014 - EXECUTIVE (Item 146)

146 December 2013/14 (Q3) Housing Revenue Account Budget Monitoring Revenue and Capital Report pdf icon PDF 93 KB

 

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

Additional documents:

Decision:

1.         That the Revenue forecast position be approved to achieve a balanced budget with a contribution to Housing Revenue Account (HRA) Reserves of £7.282m, thus strengthening the Council’s ability to invest and improve its stock of Council houses.

2.         That a year end spend of £3.120m be anticipated for the HRA capital programme, £2.125m of which relates to lower         than budgeted spend on Priory View.  At the current time it is predicted that £2.000m will be spent on Priory View from the Extra Care Development Reserve.  It is proposed that the underspend on Priory View will be carried forward as slippage to spend in the next financial year.

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

Minutes:

 

The Executive considered a report from the Executive Member for Social Care, Health and Housing and the Deputy Leader and Executive Member for Corporate Resources that set out the 2013/14 Housing Revenue Account (HRA) projected outturn revenue and capital position as at December 2013.

 

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

 

RESOLVED

 

1.         that the Revenue forecast position be approved to achieve a balanced budget with a contribution to Housing Revenue Account (HRA) Reserves of £7.282m, thus strengthening the Council’s ability to invest and improve its stock of Council houses;

 

2.         that a year end spend of £3.120m be anticipated for the HRA capital programme, £2.125m of which relates to lower than budgeted spend on Priory View.  At the current time, it was predicted that £2.000m would be spent on Priory View from the Extra Care Development Reserve.  It was proposed that the underspend on Priory View would be carried forward as slippage to spend in the next financial year; and

 

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

 

 


Meeting: 18/03/2014 - EXECUTIVE (Item 145)

145 December 2013 - Quarter 3 Capital Budget Monitoring Report pdf icon PDF 125 KB

 

The report provides information on the projected capital outturn for 2013/14 as at December 2013.  It excludes the Housing Revenue Account which is subject to a separate report.

Additional documents:

Decision:

1.      That the overall forecast position to spend £73.7m compared to the budget of £94.6m be noted.  This is a variance of £20.9m as a result of an overspend of £4.4m and the proposed deferred spend to 2014/15 of £25.3m.

2.      To request officers to carefully examine their forecast spend to determine how realistic the proposals to defer spend into 2014/15 are.

Minutes:

 

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the projected capital outturn for 2013/14 as at December 2013.

 

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

 

RESOLVED

 

1.      that the overall forecast position to spend £73.7m compared to the budget of £94.6m be noted.  This is a variance of £20.9m as a result of an overspend of £4.4m and the proposed deferred spend to 2014/15 of £25.3m; and

 

2.      to request officers to carefully examine their forecast spend to determine how realistic the proposals to defer spend into 2014/15 were.

 

 


Meeting: 18/03/2014 - EXECUTIVE (Item 144)

144 December 2013 - Quarter 3 Revenue Budget Monitoring Report pdf icon PDF 91 KB

 

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

Additional documents:

Decision:

1.      That the Revenue forecast position which is currently to overspend the budget by £0.4m be noted.

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

Minutes:

 

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 December 2013.  The report also set out spend to date against the profiled budget and the forecast financial outturn.

 

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

 

RESOLVED

 

1.      that the Revenue forecast position which is currently to overspend the budget by £0.4m be noted; and

 

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