Decision - Housing Revenue Account 2007 / 08 Final Outturn and Forecast Outturn for 2008 / 09

1) To note that the final outturn for the HRA for 2007/08 was an underspend of £1.310 million compared to the budgeted position of a small surplus of £0.129 million. This represents a variance of 2.99% of the gross revenue budget of £43.463 million.  General HRA revenue reserves have increased by £1.439 million to £5.615 million as at 31 March 2008.

2) To note that the earmarked revenue reserves for the Estate Development Budget (EDB) were £34,000 at 31st March 2008

3) To note the forecast breakeven position for 2008/09 as at Month 4 which included an additional contribution from HRA reserves to fund additional energy costs.