Decision details

This report provides the Executive with details of the actual revenue expenditure for 2018/19 for the General Fund and Housing Revenue and Repairs Account and seeks approval for the completion, in 2019/20 of the 2018/19 expenditure programmes set out in the briefing paper contained in the report.

The General Fund actual revenue expenditure for 2018/19 totals £8,961,887 which represents an overall overspend of £521,387 when compared to the revised budget.

However, additional funding income from business rates and grants linked to business rates of £870,501 leaves a position of making a contribution to reserves of £349,114.

Also, it has not been possible to complete a number of expenditure programmes in 2018/19 and approval is sought to complete these programmes totalling £171,700 during 2019/20.  When the use of the contribution to reserves in 2018/19 to complete these programmes is taken into account the final contribution to reserves for the year is £177, 414.

The final figures for the Housing Revenue and Repairs Account (HRA) in 2018/19 show that, overall, HRA Reserves have increased by £1.84 million.  The HRA revenue reserve has reduced by £293,000 against a revised budget surplus of £17,000.

RESOLVED that the Executive:

(a)  approves the carry forward of £171,700 to fund the completion of the General Fund expenditure programmes in 2019/20, as contained in the report;

(b)  approves the carry forward of £799,000 for the HRA Capital Programme to re-align budget and expenditure phasing and to support the forthcoming programme for 2019/20; and

(c)  notes the contents of the report.