To update Members on the outturn position of the 2019/20 General Fund and Housing Revenue Account revenue budgets, and to seek approval for revisions to the 2020/21 revenue budgets.
The Executive considered a report with regard to Fourth Quarter Revenue Budget Monitoring 2019/20 (General Fund and Housing Revenue Account).
The Strategic Director (CF) undertook to draft a letter for submission to the Government’s Housing Minister reinforcing SBC’s continued request to him that local authorities be permitted to retain (rather than hand back to the Government) their 1 for 1 right to buy capital receipts for a longer period, to enable re-investment in the housing stock via the building of new homes.
It was RESOLVED:
1. That the 2019/20 actual net expenditure on the General Fund of £6,965,145 be noted, subject to the 2019/20 audit of the Statement of Accounts.
2. That carry forward requests totalling £794,510 be approved for the General Fund (Paragraph 4.3.1 of the report).
3. That the ongoing pressure from 2020/21 of £14,970 on the General Fund be approved.
4. That part of the additional 2019/20 business rate gains (£788,106) be set aside in an allocated reserve to protect the General Fund against business rate losses in 2020/21 (Paragraph 4.2.14 of the report).
Housing Revenue Account
1. That the 2020/21 actual in-year deficit on the Housing Revenue Account (HRA) of £1,482,648 be noted, subject to the audit of the Statement of Accounts.
2. That the new carry forward requests totalling £390,440 be approved for the HRA (Paragraph 4.7.8 of the report).
Reason for Decision: As contained in report.
Other Options considered: As contained in report.