Issue - meetings

Report by Director of Corporate Services to set out the provisional year end position for the Housing Revenue Account (HRA).

Cabinet:

1)    NOTED the provisional year end position, variations to the 2022-23 approved year end position, and the resultant effect on the Council’s HRA balances and reserves as set out in the report, and in the attached papers, for both revenue and capital.

The Director for Corporate Services introduced the report, the purpose of which set out the provisional year-end position for the Housing Revenue Account (HRA), subject to external audit approval for 2022-23 and provided information on the Council's HRA balances and reserves.

The Director for Corporate Services advised members that the report compared the provisional outturn with the original budget as set out at the rent setting meeting in February 2022 and the latest approved estimate which incorporated in-year approvals.

The Portfolio Holder for Corporate Finance, Property and Resources thanked the team for the report and highlighted there was significant amount of work to do on voids.

The Leader and Portfolio Holder for Housing and Landlord Services advised the Cabinet he had been on a visit to view the void properties and reported he was very impressed both in preparation of the officers and the work that is being carried out.

Cabinet

1)    NOTED the provisional year end position, variations to the 2022-23 approved year end position, and the resultant effect on the Council’s HRA balances and reserves as set out in the report and the appendices, for both revenue and capital.

Reason for Recommendation:

It is important that Cabinet are aware of the financial position of the HRA to ensure they can make informed decisions that are affordable and financially sustainable for the HRA.