Issue - meetings

Housing Revenue Account, Quarter 1 Finance Report 2017/18

 

 

Meeting: 14/09/2017 - Cabinet (Item 48)

48 Housing Revenue Account, Quarter 1 Finance Report 2017/18 pdf icon PDF 40 KB

Additional documents:

Decision:

RESOLVED that Cabinet:

 

A     Noted:

 

            (i)        An unfavourable variation against the approved Housing Revenue Account (HRA) operational /controllable budget of £297,000 representing 0.56 percent of the gross HRA Budget.

 

          (ii)        An unfavourable non-operational variance of £3,801,000 representing (-)7.19 percent of  the gross HRA Budget which includes adjustments to capital programme financing as a result of an updated outturn position for 2016/17 and reflecting the urgent need to reprioritise the programme.

 

B    Noted the forecast balances at 31 March 2018, of £6,094,000 in respect of the Housing Revenue Account and nil in respect of the Major Repairs Reserve.

Minutes:

Cabinet received a report which provided an update on the Housing Revenue Account (HRA) for the first quarter of 2017/18 and asked that Cabinet noted variances in the HRA budget and the forecast budget of the HRA and Major Repairs Reserve.

 

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

 

RESOLVED that Cabinet:

 

A     Noted:

 

                            (i)        An unfavourable variation against the approved Housing Revenue Account (HRA) operational /controllable budget of £297,000 representing 0.56 percent of the gross HRA Budget.

 

                          (ii)        An unfavourable non-operational variance of £3,801,000 representing (-)7.19 percent of  the gross HRA Budget which includes adjustments to capital programme financing as a result of an updated outturn position for 2016/17 and reflecting the urgent need to reprioritise the programme.

 

B    Noted the forecast balances at 31 March 2018, of £6,094,000 in respect of the Housing Revenue Account and nil in respect of the Major Repairs Reserve.