Agenda and minutes

Consideration was given to a report presented by the Finance Director, Neighbourhood and Adult Services, in relation to the budget monitoring during the 2012-13 financial year of the Neighbourhood General Fund.  The report detailed the projected end of year outturn position as at the end of June, 2012. 

The latest forecast showed a balanced budget for 2012/13 against an approved net revenue budget of £2.8M.  There were some pressures but it was anticipated that they would be offset by savings overall within the Directorate by the year end.

The identified underlying pressures were set out in the report submitted.

To date there had been no spend on either Agency or Consultancy within Neighbourhoods General Fund budgets.  The only non-contractual overtime for Neighbourhoods related to grant funded overtime for the Food, Health and Safety Teams.

Resolved:- That the report be received and the latest financial projection against budget for 2012/13 noted.

The Finance Director, Neighbourhood and Adult Services, presented a report on the Housing Revenue Account which was forecasting an outturn on budget with a transfer to working balances (HRA reserves) of £1.877M, a minimum increase of £39,000 above the approved budget.

With regard to Housing Repairs, planned works were underway to address backlog batched repairs and plastering together with schemes being drawn up to address fencing, boundary walls and associated works within the deprived neighbourhoods.  It was anticipated that the planned work expenditure would be contained within budget provision.

It was noted that the increased spend within Supervision and Management was primarily in relation to increased spend on furniture within the Furnished Homes budget and that this sum was offset by increased income on this Scheme as more clients take up the service.

The report provided details of:-

-        Budget Operating Statement (Appendix A)

-        Income and expenditure charged to the HRA

-        Projected outturn based upon activity to the end of January 2012 (Appendix A Column B)

-        Repairs and Maintenance

-        Supervision and Management

-        Income

Discussion ensued on the report with the following issues raised/clarified:-

o       Current void turnaround time was 28.4 days – 23 days target.  1 of the contractors operated a “key to key” service which cut down on the time taken to let a property.  Discussions were taking place with the remaining contractor to adopt the same working practice

o       Impact of the forthcoming Welfare Reform Act on tenants currently in receipt of Benefits

o       Campaign that had commenced by Neighbourhoods targeting those tenants it was felt would be affected by the above

Resolved:-  That the report be noted.

The Finance Director, Housing and Neighbourhood Services, presented a report on the current position to date on the 2012/13 Capital Programme together with a forecast outturn position to the end of the financial year.

Based upon activity to date, the forecasted outturn position was that spend would be contained within the revised budget of £25.020M.

The original HIP budget had been approved by Cabinet Member with a total programmed spend of £23.577M.  Additional funding of £443,000 had since been identified to meet the cost of private sector aids and adaptations plus Cabinet approved release of £1M from the Business Plan borrowing headroom to be used for the opportunity acquisition of New Building housing stock as a means to replace existing housing stock lost through Right to Buy legislation.

The report set out a scheme by scheme analysis of spend against the approved Programme with explanations for any significant variances.

Discussion ensued on the report with the following issues raised/clarified:-

-        Costs of buying back Right to Buy properties

-        Opportunity acquisitions

-        Buy to let

Resolved:- That the report and the revised budget position be noted.