Issue - meetings

RESOLVED that Cabinet:

A     Noted:

            (i)        An unfavourable variation against the approved Housing Revenue Account (HRA) operational /controllable budget of £435,000 representing 0.82 per cent of the gross HRA budget.

          (ii)        A favourable non-operational variance of £3,379,000 representing 6.83 per cent of gross HRA budget which includes adjustments to capital programme financing as a result of the re-alignment of budgets in the housing capital programme which reduces the anticipated direct revenue contribution required in 2018/19.

B    Noted the forecast balances at 31 March 2019, of £13,307,000in 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 2018/19 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 £435,000 representing 0.82 per cent of the gross HRA budget.

                          (ii)        A favourable non-operational variance of £3,379,000 representing 6.83 per cent of gross HRA budget which includes adjustments to capital programme financing as a result of the re-alignment of budgets in the housing capital programme which reduces the anticipated direct revenue contribution required in 2018/19.

B    Noted the forecast balances at 31 March 2019, of £13,307,000in respect of the HRA and nil in respect of the Major Repairs Reserve (MRR).