Issue - meetings

Report of Director of Finance and Support (Copy herewith)

1.      Cabinet noted the outturn position for the Housing Revenue Account (HRA).

2. Cabinet noted the increase in the HRA Capital Programme Reserve of £3.6m to £12.86m and also, the setting up of a new HRA Self-financing Reserve of £2m and a new HRA Supporting People Reserve of £500k (as shown in Appendix 4 of the report).

Councillor Bottwood, as the relevant Portfolio Holder submitted a report, which identified the outturn position for the 2010/2011 Housing Revenue Account (HRA) subject to audit. He referred to Appendix 4 – Summary of HRA Earmarked Reserves 2010/11 and particularly welcomed the ’Supporting People Reserve’ of £500K.

Councillor Malpas thanked the Director of Housing and the Director of Finance and Support with regards to the HRA balance. He expressed his appreciation at the £500K being earmarked into the ‘Supporting People Reserve’, which would provide a safety net for those most deserving.

The Chairman thanked the Finance team for the report and noted that the Councils Reserves looked healthy.

RESOLVED:

1.      That the outturn position for the Housing Revenue Account (HRA) be noted.

2.      That the increase in the HRA Capital Programme Reserve of £3.6m to £12.86m and also, the setting up of a new HRA Self-financing Reserve of £2m and a new HRA Supporting People Reserve of £500k (as shown in Appendix 4 of the report) be noted.