Issue - items at meetings - REVENUE EXPENDITURE OUTTURN 2019/20

Issue - meetings

REVENUE EXPENDITURE OUTTURN 2019/20

Meeting: 08/07/2020 - Executive (Item 8.)

8. 4TH QUARTER REVENUE MONITORING REPORT 2019/20 - GENERAL FUND AND HOUSING REVENUE ACCOUNT pdf icon PDF 1 MB

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.

Additional documents:

Decision:

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:

 

General Fund

 

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.