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

1.         That the revenue forecast position to achieve a balanced budget with a contribution to Housing Revenue Account Reserves of £6.067m, 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 a net outturn of £1.525m below budget relating predominantly to the deferred timing on the Croft Green Development, be noted.

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

The Executive received a report of the Executive Member for Corporate Resources and the Executive Member for Social Care and Housing on the 2015/16 Housing Revenue Account (HRA) projected outturn position covering both  revenue and capital as at December 2015.

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 Housing Revenue Account Reserves of £6.067m, 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 a net outturn of £1.525m below budget relating predominantly to the deferred timing on the Croft Green Development, be noted;

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