Decision details

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).