The report provides information on the 2015/16 Housing Revenue Account (HRA) projected outturn revenue and capital position as at September 2015.

1.      That the revenue forecast position to achieve a balanced budget with a contribution to HRA Reserves of £6.194m, thus strengthening the Council’s ability to invest and improve its stock of Council houses be noted.

2.      That the Capital forecast position which indicates an outturn underspend of £2.625m relating to the Croft Green Development be noted.

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

The Executive considered a report from the Executive Member for Social Care and Housing that presented the Housing Revenue Account (HRA) financial position as at September 2015.  The revenue forecast position was a projected year end surplus of £6.194m compared to a budgeted surplus of £6.509m, a reduction of £0.315m.

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

RESOLVED

1.      that the revenue forecast position to achieve a balanced budget with a contribution to HRA Reserves of £6.194m, thus strengthening the Council’s ability to invest and improve its stock of Council houses be noted;

2.      that the Capital forecast position which indicates an outturn underspend of £2.625m relating to the Croft Green Development be noted; and

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