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.
Decision type: Non-key
Decision status: Recommendations Approved
: Finance Strategy;
Decision due: 10 Jul 2017 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Director of Finance & Resources
Contact: Caroline Hancock Email: chancock@fareham.gov.uk.