Issue - meetings

To consider the report of the Director Finance.

Agreed:

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

(1)   the HRA forecast financial position for 2021/22 financial year; and

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

Reason for Decision: As set out in the report.

The Executive received the report on the financial position of the HRA Revenue and Capital Budgets for the 2021/22 financial year after nine months. Members were referred to the highlighted areas of risk, shown in the report, which identified vulnerable budgets due to factors beyond the Council’s control and could result in potential deviations from budget. Members noted that the budgets were being closely monitored by officers.

Particular reference was made to there being little movement within the HRA (Housing Revenue Account) budget and was in line with the approved budget, with a £20,000 variance. It was expected that at the end of the financial year, there would be a likely impact on the HRA Capital Programme, which would impact on the HRA with a potential for an under-spend.

In response to a question raised by a Member, the Director Finance explained that in 2008, central Government announced a project to deliver new Council homes across the country, which was partially funded by central Government. There were a number of stipulations, which included for any projects being self-financing and held separately from the HRA. Exeter City Council made a successful bid to deliver a number of Passivhaus homes in the city, which were still self-financing.

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

(1)   the HRA forecast financial position for 2021/22 financial year; and

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