44 BUDGET MONITORING 2019/20 PDF 139 KB
The Committee considered an update on the latest budget monitoring position for 2019/20 for the Renewal, Recreation and Housing portfolio based on activity levels up to the end of September 2019.
Members were advised that the projected overspend for ‘Running expenses’ (para. 3.8), was due in part to the costs of the housing furniture scheme in the amount of £170k; this would be offset by a drawdown from the Welfare Fund. The remaining overspend related to the Building Control Trading Account reserve which was an accounting requirement. The overspend was offset by a drawdown from earmarked reserves.
In regard to the Housing Needs deficit of £228k, the Director of Housing, Planning and Regeneration highlighted the increased use of nightly paid accommodation outside of London. Whilst it appeared beneficial as the charges were lower, the Housing Benefit subsidy was capped at the January 2011 Local Housing Allowance rates which made placements more costly than those in London, especially when removal and furniture costs were factored in.
It was noted that, not for the first time, the Travellers budget was overspent by £54k. This was partly due to one particular site experiencing a high use of utilities and the cost of maintenance which included the installation of water meters and the loss of income due to rent arrears.
RESOLVED that the Portfolio Holder be recommended to endorse the latest 2019/20 budget projection for the Renewal, Recreation and Housing Portfolio.