Issue - meetings

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

It was RESOLVED note:-

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 1 2022/2023 was presented to the Executive for consideration.

The Director of Function (Resources)/Section 151 Officer reported that the HRA is a ring-fenced funding and its reserves are unable to be transferred to the General Fund, nor can General Fund reserves be used to fund the HRA.  There is a slight overspend as regards to maintenance and repairs of £119k at the end of Q1 as is highlighted within the report.   He referred to the Capital expenditure of the HRA and noted that the budget for new build has been reduced by £4.704k as can be seen at 9.2 of the report.  The Director of Function (Resources)/Section 151 Officer further referred to the Energy Performance Improvement budget which is also anticipated to underspend by £337k.  Undertaking energy performance improvement projects such as installing Solar PV panels requires consultation with and the approval of the District Network Operator (DNO) prior to undertaking the work.  Obtaining the necessary consent can be a lengthy process and explains the delays in undertaking the work. 

It was RESOLVED note:-