Issue - meetings

RESOLVED that Cabinet:

A     Noted:

             i)        An unfavourable variation against the approved Housing Revenue Account (HRA) operational/controllable budget of £266,000 representing 0.5 percent of the gross HRA budget.

            ii)        A favourable non-operational variance of £5,094,000 representing 9.62 percent of gross HRA budget which includes adjustments to capital programme financing as a result of an updated outturn position for 2017/18 and reflecting the reprioritised programme.

B    Noted the forecast balances at 31 March 2018, of £15,022,000 in respect of the HRA and nil in respect of the Major Repairs Reserve (MRR).

Cabinet received a report which provided an update on the Housing Revenue Account (HRA) for the third quarter of 2017/18 and asked that Cabinet noted variances in the HRA budget, as well as the forecast budget of the HRA and the 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 £266,000 representing 0.5 percent of the gross HRA budget.

                            ii)        A favourable non-operational variance of £5,094,000 representing 9.62 percent of gross HRA budget which includes adjustments to capital programme financing as a result of an updated outturn position for 2017/18 and reflecting the reprioritised programme.

B    Noted the forecast balances at 31 March 2018, of £15,022,000 in respect of the HRA and nil in respect of the Major Repairs Reserve (MRR).