Issue - items at meetings - Housing Revenue Account 2007 / 08 Final Outturn and Forecast Outturn for 2008 / 09

Report of the Director of Adult Social Care & Housing (copy attached)

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.

65.1         The Cabinet Member considered a report of the Director of Adult Social Care & Housing that provided information about the Housing Revenue Account (HRA) 2007/08 final outturn and the forecast outturn for 2008/09 as at Month 4 (for copy see minute book).

65.2         RESOLVED – (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.

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

65.4         (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.