Issue - meetings

To submit a report by the Director of Function (Resources)/Section 151 Officer.

It was resolved to note the following –

•           The position set out in respect of the financial performance of the Housing Revenue Account (HRA) for Quarter 2 2019/20.

•           The forecast outturn for 2019/20.

The report of the Director of Function (Resources)/Section 151 Officer setting out the financial performance of the Housing Revenue Account (HRA) Budget for Quarter 2 2019/20 was presented for the Executive’s consideration.

The Portfolio Member for Finance reported that the revenue financial position for Quarter 2 shows an overspend of £71k.The income forecast remains £75k better than the original budget and expenditure is now forecast to be £75k better than the original budget (details provided in Appendix A).Capital expenditure is £1.791k below the profiled budget. The forecast expenditure is £190k higher than the budget (details provided in Appendix B).The forecast deficit (combining both revenue and capital) is £40k higher than the budget (compared to £67k in the Q1 report) which is the result of higher than budgeted capital expenditure.

It was resolved to note the following –

•           The position set out in respect of the financial performance of the Housing Revenue Account (HRA) for Quarter 2 2019/20.

•           The forecast outturn for 2019/20.