Decision details

The Acting Assistant Director Finance presented the report, advising Members of the overall financial position of the HRA & General Fund Revenue Budgets for the 2012/13 financial year. There was an overall increase in the HRA working balance from £5,764,423 to £6,290,297, an increase of £525,874 as compared with the planned increase of £2,320,270.  The reduction against budget was approved by the Executive during the financial year and was attributed to the acquisition of additional accommodation at the former Royal Navy Store site and an increase to the kitchen and bathroom replacement programmes.

Members were updated on the earmarked reserves position, which included the Exe Harbour Review and the Exeter Business Against Crime Initiative.  A Member referred to the considerable length of time taken to reach any conclusion to the  Exeter Harbour Review.  The Acting Assistant Director Finance confirmed that there was an existing budget for work attributed to the Harbour Review Order, and the view had been taken that £5,000 was sufficient to cover future costs. He also responded to questions on the allocation of the council tax and the sundry debt position.

The Scrutiny Committee – Resources noted the report and requested that Council note the overview of the Resources Budget for 2011/12 and approve:-

(1)        the supplementary budgets of £287,860 as detailed in paragraph 3.16 of the          circulated report;

(2)        Earmarked Reserves at 31 March 2013;

(3)        the Council Tax account and collection rate;

(4)        the outstanding sundry debt, aged debt analysis and debt write-off figures;

(5)        the creditor payments performance;

(6)        having regard to the General Fund working balance of  £3,358,047 as at 31            March 2013 and the overall financial position of the Council as set out in paragraph 3.14 of the circulated report; and

(7)        the Housing Revenue Account working balance at 31 March 2013 of £6,290,297 and the Council Own Build working balance of £73,498.

(Report circulated)