Decision details

RECOMMENDED that Cabinet acknowledges the projected outturn position for the third quarter (October – December) of 2014/15 as follows:

(i)    The forecast net underspend of £5,435,000 comprised of operational variances of £749,000 and non-operational variances of £4,686,000 (as set out in Appendix A of the report submitted).

(ii)  The HRA budget for 2014/15 totals £51,383,730 (as set out in Appendix B of the report submitted) and the under spend therefore represents a variance of 10.58% of the total budget, with operational variances being 1.46% and non-operational variances being 9.12% of the total budget.

(iii) The forecast balances at 31 March 2015, of £10,135,000 in respect of the Housing Revenue Account and nil in respect of the Major Repairs Reserve (as set out in Appendix C of the report submitted).