Issue - meetings

Housing Revenue Account, Quarter 1 Finance Report 2018/19

Meeting: 13/09/2018 - Cabinet (Item 49)

49 Housing Revenue Account, Quarter 1 Finance Report 2018/19 pdf icon PDF 227 KB

Additional documents:

Decision:

RESOLVED that Cabinet:

 

A     Noted:

 

             i)        An unfavourable variation against the approved Housing Revenue Account (HRA) operational/controllable budget of £956,000 representing 1.8 percent of the gross HRA budget.

 

            ii)        An unfavourable non-operational variance of £4,104,000 representing   7.72 percent of gross HRA budget which includes adjustments to capital programme financing as a result of the carryovers from 2017/18 and other adjustments.

 

B    Noted the forecast balances at 31 March 2019, of £5,304,000in 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 of 2018/19 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 Wilkinson) it was:

 

RESOLVED that Cabinet:

 

A     Noted:

 

                             i)        An unfavourable variation against the approved Housing Revenue Account (HRA) operational/controllable budget of £956,000 representing 1.8 percent of the gross HRA budget.

 

                            ii)        An unfavourable non-operational variance of £4,104,000 representing   7.72 percent of gross HRA budget which includes adjustments to capital programme financing as a result of the carryovers from 2017/18 and other adjustments.

 

B    Noted the forecast balances at 31 March 2019, of £5,304,000in respect of the HRA and nil in respect of the Major Repairs Reserve (MRR).