Issue - meetings

Housing Revenue Account, Quarter 1 Finance Report 2019/20

Meeting: 12/09/2019 - Cabinet (Item 49)

49 Housing Revenue Account, Quarter 1 Finance Report 2019/20 pdf icon PDF 68 KB

Additional documents:

Decision:

RESOLVED that Cabinet:

 

A     Noted:

 

i)              A favourable variation against the approved Housing Revenue Account (HRA) operational/controllable budget of £140,000 representing (-)0.02 per cent of the gross HRA budget.

 

ii)             An unfavourable non-operational variance of £3,200,000 representing 0.57 per cent of gross HRA budget which includes adjustments to housing capital programme financing as a result of the re-alignment of budgets and changes to proposed funding which increases the anticipated direct revenue contribution required in 2019/20.

 

B     Noted the forecast balance at 31 March 2020, of £3,983,000 in respect of the HRA and nil in respect of the Major Repairs Reserve (MRR).

 

 

 

 

Minutes:

Cabinet received a report which provided an update on the Housing Revenue Account (HRA) for the first quarter on 2018/29 and asked that Cabinet variances in the HRA budget and the forecast of the HRA and Major Repairs Reserve.

 

Proposed by Councillor Mike Danvers (seconded by Councillor Mark Ingall) it was:

 

RESOLVED that Cabinet:

 

A     Noted:

 

i)             A favourable variation against the approved Housing Revenue Account (HRA) operational/controllable budget of £140,000 representing (-)0.02 per cent of the gross HRA budget.

 

ii)            An unfavourable non-operational variance of £3,200,000 representing 0.57 per cent of gross HRA budget which includes adjustments to housing capital programme financing as a result of the re-alignment of budgets and changes to proposed funding which increases the anticipated direct revenue contribution required in 2019/20.