267 BCA/19/54 HRA FINANCIAL OUTTURN 2019/20 PDF 415 KB
Cabinet Member for Finance
Decision:
It was RESOLVED:-
1.1 That the 2019/20 financial outturn as set out in the report be noted.
1.2 That the transfer of £1.506m, being the HRA surplus for the year (£1.699m more than planned) per paragraph 5.5 of the report, to the Strategic Priorities Reserves be approved.
1.3 That the HRA Capital carry-forward requests referred to in paragraphs 5.12 and 5.13 of the report totalling£17.340m be approved.
Reason for Decision: To ensure that Members are kept informed of the outturn position for both Housing Revenue and Capital and to approve earmarked reserve transfers and carry forward requests.
Alternative Options Considered and Rejected:
1.1. Transfer funds of £1.056m to the Strategic Priorities earmarked reserve.
1.2. To recommend the carry forward of £17.340m HRA Capital costs.
Any Declarations of Interests Declared: None
Any Dispensation Granted: None
Minutes:
The report was introduced by the Cabinet Member for Finance who moved the recommendations. Councillor Osborne seconded the recommendations.
In response to a question from Councillor Busby regarding asbestos surveys, the Assistant Director for Housing confirmed that all high and medium levels of asbestos in Council homes had been eradicated. Following a restructure an additional asbestos surveyor had been appointed to enable more surveys to be carried out at a reduced cost to the authority.
Councillor Parker commented on the adverse variance in respect of receipts which were expected from development and which had not been completed. He asked if a favourable variance would be expected in the future. The Assistant Director for Housing confirmed that the HRA business plan predicted income and expenditure for a given month. The method for estimating income for the HRA account would be reviewed in the future in order to produce more accurate figures.
Councillor Holt questioned the excess expenditure in respect of Building Services and how this had benefitted the Council. The Assistant Director for Housing advised that this expenditure was in relation to payments to subcontractors working in void properties. Members were advised that the reliance on subcontractors had been reduced and contracts had been reviewed to identify savings where possible.
In response to a question from Councillor McCraw regarding the proposed changes to the model for responsive repairs, the Assistant Director for Housing advised that the transformation of Building Services would be discussed with Cabinet Members in the near future. Members were also advised that a decision had been made not to proceed with the development of the business case for a joint venture with Flagship Housing.
It was RESOLVED:-
1.1 That the 2019/20 financial outturn as set out in the report be noted.
1.2 That the transfer of £1.506m, being the HRA surplus for the year (£1.699m more than planned) per paragraph 5.5 of the report, to the Strategic Priorities Reserves be approved.
1.3 That the HRA Capital carry-forward requests referred to in paragraphs 5.12 and 5.13 of the report totalling £17.340m be approved.
Reason for Decision: To ensure that Members are kept informed of the outturn position for both Housing Revenue and Capital and to approve earmarked reserve transfers and carry forward requests.