Issue - meetings
Provisional Outturn 2018/19 - HRA
Meeting: 09/07/2019 - Cabinet (Item 15)
15 HOUSING REVENUE ACCOUNT BUDGET 2018-19 PROVISIONAL YEAR END 
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The Portfolio Holder for Corporate Finance and Resources to provide a report to provide Members with:
a) Information on the provisional year end for the Housing Revenue Account (HRA) position subject to external audit approval for 2018/19 and to provide information on the implications for the Council’s balances and reserves.
Additional documents:
Decision:
Cabinet NOTED the provisional year end
position, variations to the 2018/19 estimated year end position and the
resultant effect on the Council’s balances and reserves for the HRA as set out
in the attached papers.
Minutes:
Councillor Ronnie de Burle, Portfolio Holder
for Corporate Finance and Resources introduced the report the purpose of which
was to provide Members with
information on the provisional year end for the Housing Revenue Account (HRA) position
subject to external audit approval for 2018-19 and to provide information on
the implications for the Council’s balances and reserves.
During discussion, the following points were noted;
The provisional year
end position as per Appendix 1, shows an actual surplus of income over
expenditure of £230,520 an underspend of £718,910 against the approved budgeted
deficit of £488,390 and a resulting working balance of £1,897,045.
There followed a
discussion regarding the additional income over budget from housing rents as a
result of voids being lower than anticipated.
Members expressed concern that whilst this might be an improvement over
budget the void turn around time was still too long resulting in lost rent.
Officers advised this would be picked up in the Housing Improvement Plan.
DECISION (NON-KEY)
Cabinet NOTED the provisional year end position, variations to the 2018-19
estimated year end position and the resultant effect on the Council’s balances
and reserves for the HRA as set out in the attached papers.
Reasons:-
It is important Cabinet are aware of the financial position of the HRA in order to ensure they can make informed decisions that are affordable and financially sustainable for the HRA and the links to the 30 year business plan.