Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides the Executive with details of the actual revenue expenditure for 2016/17 for the General Fund and Housing Revenue and Repairs Account and seeks approval for the completion, in 2017/18, of the 2016/17 expenditure programmes set out in the briefing paper contained in the report.
The General Fund actual revenue expenditure for 2016/17 totals £8,482,417 which represents an overall underspend of £420,883 when compared to the revised budget.
However, it has not been possible to complete a number of expenditure programmes in 2016/17 and approval is sought to complete these programmes totalling £272,200 during 2017/18. When the use of the saving in 2016/17 to complete these programmes is taken into account, along with financing adjustments of £514,150 due to additional NNDR payments being received, the net reported underspend for the year is £662,833.
The final figures for the Housing Revenue and Repairs Account (HRA) in 2016/17 show that, overall, the value of the HRA reserve has reduced by £1,249,000 against a revised budget surplus of £460,000. This is mainly due to the decision to put aside £2,164,000 to replenish the Capital Development Fund which was used to fund £3,544,000 of new construction in the year.
RESOLVED that the Executive:
(a) approves to carry forward £272,200 to fund the completion of the General Fund expenditure programmes in 2017/18, as contained in the report;
(b) approves that £53,000 from the HRA Capital account is carried forward to fund the outstanding balances from the 2016/17 programme in 2017/18; and
(c) notes the contents of the report.
Report author: Caroline Hancock
Publication date: 12/07/2017
Date of decision: 10/07/2017
Decided at meeting: 10/07/2017 - Executive
Effective from: 22/07/2017
Accompanying Documents: