Issue - meetings

A report providing information on actual expenditure and income incurred on the Housing Revenue Account (HRA), compared to the latest approved budget for the period 1 April to 30 September 2023 for revenue and capital budgets.                                                                                                 

Cabinet NOTED the financial position on the Housing Revenue Account at 30 September 2023 and the year-end forecast for both revenue and capital.

The Portfolio Holder for Corporate Finance, Property and Resources introduced the report, the purpose of which was to provide information on actual expenditure and income incurred on the Housing Revenue Account (HRA), compared to the latest approved budget for the period 1 April to 30 September 2023 for revenue and capital budgets.

The Portfolio Holder for Governance, Environment and Regulatory Services, Deputy Leader, thanked officers for the higher returns on the investments which had led to the forecast underspend.

The Assistant Director for Housing Management confirmed to members that the backlog in receiving the energy bills for Gretton Court had now been resolved and that this has now been added to tenants’ rent payments, the increase had not been too significant.

Cabinet NOTED the financial position on the Housing Revenue Account as at 30 September 2023 and the year-end forecast for both revenue and capital.

Reason for recommendation

The Council, having set an agreed budget at the start of the financial year needs to ensure that the delivery of the budget is achieved. Consequently, there is a requirement to regularly monitor progress so that corrective action can be taken when required, which is enhanced with the regular reporting of the financial position.