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 2019/20 for the General Fund and Housing Revenue and Repairs Account and seeks approval for the completion, in 2020/21, of the 2019/20 expenditure programmes set out in the briefing paper contained in the report.
The General Fund actual revenue expenditure for 2019/20 totals £9,938,410 which represents an overall overspend of £619,210 when compared to the revised budget.
However, additional funding income from business rates and grants linked to business rates of £441,365 reduced the overspend to £177,845. This overspend will need to be financed from reserves.
Also, it has not been possible to complete a number of expenditure programmes in 2019/20 and approval is sought to complete two programmes where expenditure had already been committed during 2020/21, at a cost of £100,600. When the use of the reserves in 2019/20 to complete these programmes is taken into account the final contribution from reserves for the year is £278,445.
The final figures for the Housing Revenue and Repairs Account (HRA) in 2019/20 show that the HRA revenue reserve has reduced by £429,000 against a revised breakeven budget. Overall, total HRA Reserves have increased by £759,000.
RESOLVED that the Executive:
(a) approves the carry forward of £100,600 to fund the completion of the committed General Fund expenditure programmes in 2020/21, as contained in this report;
(b) approves the carry forward of £1,663,000 for the HRA Capital Programme to re-align budget and expenditure phasing and to support the forthcoming programme for 2020/21; and
(c) notes the contents of the report.
Report author: Caroline Hancock
Publication date: 08/07/2020
Date of decision: 06/07/2020
Decided at meeting: 06/07/2020 - Executive
Effective from: 18/07/2020
Accompanying Documents: