Issue - meetings

To consider the report of the Strategic Director for Corporate Resources.

Agreed:

RECOMMENDED that Council approve:-

(1) the HRA forecast financial position for 2024/25 financial year; and

(2) the request to vire £95,000 Estate Management approval from the Capital Programme to an annual revenue budget of circa £24,000 for four years.

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 2024/25 financial year after three months. The report further outlined budgetary over/under-spends and highlighted areas of risk, where certain budgets had identified as being vulnerable to factors beyond the control of the Council, resulting in potential budget deviations.

Particular reference was made to:-

·         there was continued challenge with the repairs and maintenance budget, which had a projected overspend of £1.187 million, the reasons of which were set out in the report;

·         work was being undertaken with the Head of Service for repairs and maintenance to look at either increasing the budget or to bring the repairs and maintenance budget back in line with the set budget set; and

·         the request to vire £95,000 in the report meant it was currently held in the capital budget and would be transferred back to revenue account.

Cllr Mitchell enquired on the repairs and maintenance programme and whether an indication could be made between the balance of planned maintenance and urgent repairs?

In response to questions and points raised by Members and opposition group leaders, the Strategic Director for Corporate Resources advised that he would speak with the relevant Head of Service in response to Councillor Mitchells enquiry.

The Leader moved the recommendations, which was seconded by Councillor Wright, voted upon, and CARRIED unanimously.

RECOMMENDED that Council approve:-

(1) the HRA forecast financial position for 2024/25 financial year; and

(2) the request to vire £95,000 Estate Management approval from the Capital Programme to an annual revenue budget of circa £24,000 for four years.