45 BCa/21/19 HOUSING REVENUE ACCOUNT (HRA) FINANCIAL MONITORING 2021/22 QUARTER 1 PDF 198 KB
Cabinet Member for Finance
Decision:
It was RESOLVED: -
1.1 That, subject to any further budget variations that arise during the rest of the financial year, the adverse variance of £223k, referred to in section 6.5 of the report, be noted;
1.2 That the 2021/22 revised Capital Programme referred to in Appendix A and section 6.13 be noted.
REASON FOR THE DECISION
To ensure that Members are kept informed of the current budgetary position for both the HRA Revenue and Capital Budgets.
Alternative Options Considered and Rejected:
At this stage in the year, the financial position is for noting only.
Any Declarations of Interests Declared: None
Any Dispensation Granted: None
Minutes:
45.1 The Cabinet Member for Finance, Councillor Ward, introduced paper BCa/21/19 and drew Members’ attention to the main points in the report.
45.2 Councillor Ward proposed the recommendations in the report. This was seconded by Councillor Osborne.
45.3 Councillor Busby referred to the depreciation of housing stock charged to the HRA account, and that whilst the value of property was raising, the Council also charged the HRA account for housing repairs which should increase the value of the properties. He queried if the HRA account was charged twice.
45.4 The Assistant Director for Corporate Resources responded that the depreciation charged to the HRA could be used to finance the expenditure and contributed to maintain the housing stock.
It was RESOLVED: -
1.1 That, subject to any further budget variations that arise during the rest of the financial year, the adverse variance of £223k, referred to in section 6.5 of the report, be noted;
1.2 That the 2021/22 revised Capital Programme referred to in Appendix A and section 6.13 be noted.
REASON FOR THE DECISION
To ensure that Members are kept informed of the current budgetary position for both the HRA Revenue and Capital Budgets.