Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
This report provides the Executive with details of the actual revenue expenditure for 2015/16 for the General Fund and Housing Revenue and Repairs accounts and seeks approval for the completion, in 2016/17, of the 2015/16 expenditure programmes set out in the briefing paper contained in the report.
The General Fund actual revenue expenditure for 2015/16 totals £9,107,305 which represents an overall saving of £67,295 when compared to the revised budget.
However, it has not been possible to complete a number of expenditure programmes in 2015/16 and approval is sought to complete these programmes totalling £260,700 during 2016/17. When the use of the saving in 2015/16 to complete these programmes is taken into account, along with financing adjustments, the net underspend for the year is £13,790.
The final figures for 2015/16 show that, overall, there was a surplus of £2,912,000 on the Housing Revenue and Repairs Account (HRA). This was less than expected in the revised budget, so £1,163,000 of the general HRA reserve has been used, on top of the in-year surplus, to put aside earmarked reserves to fund the building of new homes and repay the debt we took on in 2012.
RESOLVED that the Executive:
(a) approves the carry forward of £260,700 to fund the completion of the General Fund expenditure programmes in 2016/17, as contained in this report;
(b) approves that £2,367,000 from the HRA Capital Account is carried forward to fund the outstanding balances from the 2015/16 programme in 2016/17; and
(c) notes the contents of the report.
Report author: Caroline Hancock
Publication date: 13/07/2016
Date of decision: 11/07/2016
Decided at meeting: 11/07/2016 - Executive
Effective from: 23/07/2016
Accompanying Documents: