Issue - meetings

Issue - meetings

Quarter 2 2017/18 Housing Revenue Account Budget Monitoring

Meeting: 05/12/2017 - EXECUTIVE (Item 87)

87 Housing Revenue Account Budget Monitoring September 2017 (Quarter 2) pdf icon PDF 6 KB

 

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

Additional documents:

Decision:

1.         That the revenue forecast position to achieve a balanced budget with a contribution to HRA Reserves of £6.182M, thus strengthening the Council’s ability to invest and improve its stock of Council homes, be noted.

2.         To note that the capital forecast position indicates a net outturn of £8.227M against a budget of £14.342M.  The deferral of £2.539M of future investment works to 2018/19, be approved.

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

4.         That the virement of the underspend at Croft Green (£3.725M) to the New Build and Acquisitions budget line, to enable further purchases of properties that will address the increasing temporary accommodation pressure in the General Fund, be approved.

Minutes:

 

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources and Executive Member for Social Care and Housing that provided details of the 2017/18 Housing Revenue Account (HRA) projected outturn revenue and capital position as at September 2017.

 

In response to a question, the Executive Member for Social Care and Housing explained that the Council was still waiting for guidance from the Government on funding for local authorities to be able to build their own housing provision.

 

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

 

RESOLVED

 

1.         that the revenue forecast position to achieve a balanced budget with a contribution to HRA Reserves of £6.182M, thus strengthening the Council’s ability to invest and improve its stock of Council homes, be noted;

 

2.         to note that the capital forecast position indicates a net outturn of £8.227M against a budget of £14.342M.  The deferral of £2.539M of future investment works to 2018/19, be approved;

 

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

 

4.         that the virement of the underspend at Croft Green (£3.725M) to the New Build and Acquisitions budget line, to enable further purchases of properties that would address the increasing temporary accommodation pressure in the General Fund, be approved.