Issue - meetings

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

Agreed:

RECOMMENDED that Council notes and approves (where applicable):

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

(2)  the revised 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 2024/25 financial year after six months and highlighted budgetary over/under-spends. The report also outlined areas of risk, to ensure Members were aware that certain budgets had been identified as being vulnerable to factors beyond the control of the Council and were being closely monitored by officers.

Particular reference was made to:-

·    the Council was continuing to take a more proactive approach to repairs and maintenance in the Housing Revenue Account (HRA), focussing on identifying repairs at an earlier stage and this had caused the overspend; and

·    there would be likely revisions to the budget and a fuller budget would be provided in future years;

During the discussion, Executive Members raised the following points and questions:-

·         it was important to note that changes in the report reflected the proactive work being undertaken;

·         Rennes House had been closed and residents who had been moved were very positive about the process and welcomed the new accommodation; and

·         what has been the impact on the budget in not keeping Rennes’s House?

Councillor Moore spoke on the item as opposition group leader and welcomed the proactive approach and noted, the importance of the repairs and sought assurance that there would be no delays until the new Financial year for the repairs to be completed due to budgetary pressures.

In response to questions raised, the Strategic Director for Corporate Resources advised that:-

·         over the medium term, there would be a significant reduction from not maintaining Rennes House, but in the short term, there were associated costs. However, funding for demolition had been made and work with Telecom operators was underway, in regard to the masts; and

·         the repairs and maintenance projection was a forecast of where the Council would be at the end of the financial year.

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

RECOMMENDED that Council notes and approves (where applicable):

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

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