Issue - meetings

To consider the First Quarter Revenue Budget monitoring report 2023/24.

The Executive considered a report in respect of the First Quarter Revenue Budget Monitoring 2023/24.

It was RESOLVED:

General Fund

1.          That the 2023/24 First Quarter projected net decrease in General Fund expenditure of £273,020 be approved.

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

3.          That the proposed movement on reserves, as detailed in Paragraph 4.2.1 of the report, be noted.

Housing Revenue Account (HRA)

4.          That the 2023/24 First Quarter projected net pressure in HRA expenditure of £154,510 be approved.

5.          That two budget virements totalling £450,000, from planned maintenance budgets, to fund the proposed fencing works as detailed in Paragraph 4.5.9 of the report, be approved.

6.          That the existing backlog of fencing works be prioritised to be completed and new fencing repairs be added to a waiting list, unless they relate to emergency repairs and those creating a health and safety risk, which will be dealt with immediately, with all other repairs being completed in order of date raised.

7.          That a budget virement of £238,000 from revenue contributions to capital, for void property repair costs, be approved, as detailed at Paragraph 4.5.6 of the report.

8.          That it be noted that the cumulative increases made to the HRA net budget remain within the £400,000 variation limit delegated to the Executive in the January 2023 budget report.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.

The Executive considered a report in respect of the First Quarter Revenue Budget Monitoring 2023/24.

In the absence of the Portfolio Holder for Resources and Transformation, the Portfolio Holder for Housing and Housing Development advised that, for Quarter 1, the report highlighted a net decrease for the General Fund of £273,020 and a net pressure of £154,510 for the Housing Revenue Account. 

The Executive noted that both General Fund and HRA remained within their variation limits, as delegated to the Executive by Council.

It was RESOLVED:

General Fund

1.          That the 2023/24 First Quarter projected net decrease in General Fund expenditure of £273,020 be approved.

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

3.          That the proposed movement on reserves, as detailed in Paragraph 4.2.1 of the report, be noted.

Housing Revenue Account (HRA)

4.          That the 2023/24 First Quarter projected net pressure in HRA expenditure of £154,510 be approved.

5.          That two budget virements totalling £450,000, from planned maintenance budgets, to fund the proposed fencing works as detailed in Paragraph 4.5.9 of the report, be approved.

6.          That the existing backlog of fencing works be prioritised to be completed and new fencing repairs be added to a waiting list, unless they relate to emergency repairs and those creating a health and safety risk, which will be dealt with immediately, with all other repairs being completed in order of date raised.

7.          That a budget virement of £238,000 from revenue contributions to capital, for void property repair costs, be approved, as detailed at Paragraph 4.5.6 of the report.

8.          That it be noted that the cumulative increases made to the HRA net budget remain within the £400,000 variation limit delegated to the Executive in the January 2023 budget report.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.