35 MCa/21/14 HOUSING REVENUE ACCOUNT (HRA) FINANCIAL OUTTURN 2020/21 PDF 215 KB
Cabinet Member for Finance
Decision:
It was RESOLVED:-
1.1 That the 2020/21 HRA financial outturn as set out in this report benoted.
1.2 That the transfer of £523k, being the HRA revenue surplus for the year (£1.087m more than planned) as per paragraph 6.4, to the Strategic Priorities Reserves be approved.
1.3 That the HRA capital carry-forward requests referred to in paragraph 6.19 of this report totalling £7.391m be approved.
Reason for Decision
To ensure that Members are kept informed of the outturn position for both HousingRevenue andCapital andto approveearmarked reservetransfers and carry forwardrequests.
Alternative Options Considered and Rejected: Transfer funds of £523k to the Strategic Priorities earmarked reserve and not support the carry forward of £7.391m HRA Capital costs. This is not the recommended option becausethere wouldbe insufficientcapital resourcesavailable in2021/22 tocomplete the schemes in progress.
Any Declarations of Interests Declared: None
Any Dispensation Granted: None
Minutes:
35.1 The Cabinet Member for Finance, Councillor Whitehead provided Members with a summary of significant areas of the report.
35.2 The recommendations in the report were proposed by Councillor Whitehead and seconded by Councillor Hadingham.
35.3 In response to Councillor Welham’s questions regarding the new build programme including acquisitions, the planned maintenance allocation and the under spend on the maintenance budget, the Assistant Director for Housing clarified that he did not have the figures for new build and acquisitions. However, the Council was expected to deliver over 270 new homes during the next twelve months. Planned expenditure included planned maintenance and work was being undertaken to catch up on the capital spend for contracts through the Council’s procurement framework. Long-term planning and timely spending on improving the housing stock was important.
By a unanimous vote
It was RESOLVED:-
1.1 That the 2020/21 HRA financial outturn as set out in this report benoted.
1.2 That the transfer of £523k, being the HRA revenue surplus for the year (£1.087m more than planned) as per paragraph 6.4, to the Strategic Priorities Reserves be approved.
1.3 That the HRA capital carry-forward requests referred to in paragraph 6.19 of this report totalling £7.391m be approved.
Reason for Decision:
To ensure that Members are kept informed of the outturn position for both HousingRevenue andCapital andto approveearmarked reservetransfers and carry forwardrequests.