Issue - meetings

HRA Budget Monitoring Report

Meeting: 07/07/2020 - Executive (Item 71)

71 2019/20 HRA Budget Monitoring Report - Outturn pdf icon PDF 290 KB

To consider the report of the Chief Finance Officer.

 

Additional documents:

Decision:

Agreed

RECOMMENDED that Council notes and approves (where applicable):-

 

(1)  the supplementary budgets of £657,040 as detailed in paragraph 8.4 of the report presented to the meeting;

(2)  the HRA financial position for 2019/20 financial year; and

(3)  the revision of the HRA Capital Programme to reflect the reported variations detailed in Appendix 4 of the report presented to the meeting.

Reason for Decision:

As set out in the report.

 

 

Minutes:

The Executive received the report, which advised Members of any major differences, by management unit, between the approved budget and the outturn for the financial year up to 31 March 2020 in respect of the Housing Revenue Account and the Council’s new build schemes. Members were advised that an update on the HRA Capital Programme outturn was incorporated into the report to assist in providing a comprehensive financial update in respect of the Housing Revenue Account.

 

Particular reference was made to:-

 

·         a small surplus to be added back to the HRA balance standing at £10.329 million with plans to spend much of this on the future capital programme to improve existing assets;

·         request for a supplementary budget of £657,000; and

·         capital expenditure of £15.7 million in the current financial year of which £7.2 million related to the existing stock and £8.5 million to investing in new Council homes.

 

RECOMMENDED that Council notes and approves (where applicable):-

 

(1)        the supplementary budgets of £657,040, as detailed in paragraph 8.4 of the circulated report;

 

(2)        the HRA financial position for 2019/20 financial year; and

 

(3)        the revision of the HRA Capital Programme to reflect the reported variations detailed in Appendix 4 of the circulated report.