The report provides information on the 2017/18 Housing Revenue Account (HRA) projected outturn revenue and capital position as at June 2017.

1.      That the Revenue forecast position to achieve a balanced budget with a contribution to HRA Reserves of £6.020M, thus strengthening the Council’s ability to invest and improve its stock of Council Houses, be approved.

2.      That the Capital forecast of a net outturn of £12.654M, against a budget of £14.342M, be approved.  £1.688M of future investment works be deferred to 2018/19.

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 Deputy Leader and Executive Member for Corporate Resources that set out the Quarter 1 2017/18 Housing Revenue Account (HRA) projected outturn revenue and capital position.

Reason for decision:  To maintain rigour and transparency through the Executive’s regular public monitoring of the HRA budget.

RESOLVED

1.      that the Revenue forecast position to achieve a balanced budget with a contribution to HRA Reserves of £6.020M, thus strengthening the Council’s ability to invest and improve its stock of Council Houses, be approved;

2.      that the Capital forecast of a net outturn of £12.654M, against a budget of £14.342M, be approved.  £1.688M of future investment works be deferred to 2018/19; and

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

The decision was unanimous.