Issue details

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.