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.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 10/06/2016
: Finance Strategy;
Decision due: 11 Jul 2016 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Director of Finance & Resources
Contact: Caroline Hancock Email: chancock@fareham.gov.uk.
Background Papers: File of papers