Issue - meetings

To receive a report from the Head of Financepresenting a financial update in respect of the income and expenditure so far in the year.

The Group had before it a report * from the Head of Finance presenting a financial update in respect of the income and expenditure so far in the year.

Key highlights within the report included the following:

·         A surplus of £107k on General Funding Housing Account which was a significant improvement compared to the last monitoring report. This related to a reduction in bad debt provision based on a detailed review of previous years and income being received.

·         The Housing Revenue Account showed a surplus of £344k, this included £149k of revenue contribution to capital which was not required for this financial year and some staff savings.

·         The major repairs reserve would have a projected balance of over £500k.

·         It was confirmed that funds would be carried forward to the following financial year.

Note: * Report previously circulated; copy attached to the signed minutes.