Decision details

The Executive considered a report that provided an update on the General Fund and Housing Revenue Account (HRA) projected 2018/19 outturn, including any carry forward requests, updates on savings and growth bids.

In relation to the peppercorn rent issue referred to in Paragraph 4.2.8 of the report, the Leader requested that officers take steps to negotiate the full increase from peppercorn to higher rent levels with Registered Social Providers.

It was RESOLVED:

General Fund

1.         That the 1^st Quarter projected net increase in General Fund expenditure of £195,750 is approved.

2.         That it be noted that cumulative changes made to the General Fund net budget remains within the £400,000 increase variation limit delegated to the Executive.

3.         That the progress of the 2018/19 approved Financial Security options, growth bids and carry forward requests is noted.

4.         That it be noted that the 2019/20 ongoing net pressure of £57,090 will be incorporated into the General Fund Medium Term Financial Strategy (MTFS).

Housing Revenue Account (HRA)

1.         That the 2018/19 1^st Quarter projected net increase in HRA net deficit of £75,400 be approved.

2.         That it be noted that the cumulative increases made to the HRA net budget remains within the £250,000 increase variation limit delegated to the Executive.

3.         That the progress of the 2018/19 approved Financial Security options, growth bids and carry forward requests is noted

4.         That budget carry forwards to 2019/2020 of £60,000 are approved.

Reason for Decision: As contained in the report.

Other Options considered: As contained in the report.