Agenda item

Janine Mills, Principal Finance Business Partner:

a)    presented a report to Housing Scrutiny Sub-Committee with a summary of the third quarter’s performance (up to 31 December 2024), on the Council’s:

·       Housing Revenue Account

·       Housing Repairs Service

·       Housing Investment Programme

b)    sought approval for changes to the capital programme

c)    invited members of Lincoln Tenant’s Panel to comment on the content of the report

d)    advised that although there were still a number of variables, which were subject to a level of uncertainty, based on the latest level of assumptions, at the end of the third quarter, provided information on the Council’s:

·       Housing Revenue Account –– For 2024/25 the Council’s Housing Revenue Account (HRA) net revenue budget was set with a planned contribution from balances of £101,220, resulting in estimated general balances at year-end of £1,030,024, after allowing for the 2023/24 outturn position. The HRA was currently projecting a forecast underspend of £714,390, which would result in HRA balances of £1,744,414 as at the end of 2024/25 (Appendix A provided a forecast Housing Revenue Account summary). Although the forecast position was an underspend there were a number of significant variations in income and expenditure. Full details of the main variances were provided at Appendix B.

·       Housing Repairs Service – For 2024/25 the Council’s Housing Repairs Service (HRS) net revenue budget was set at zero, which reflected its full costs recovery nature. At quarter 3, the HRS was forecasting a surplus of £32,882 in 2024/25, an improvement of £50,136 since quarter 2, which had subsequently been repatriated to the HRA. Full details of the main variances were provided at Appendix D.

·       Housing Investment Programme – The revised programme for 2024/25 amounted to £17.432m following the quarter 2 position. At quarter 3 the programme had been decreased by £0.20m to £17.411m as shown at paragraph 7.2 of the report. The overall expenditure on the Housing Investment Programme at the end of quarter 3 was £8.861m, which was 50.89% of the 2024/25 revised programme. This excluded expenditure relating to Western Growth Corridor, which was currently shown on the General Investment Programme (GIP), to be apportioned at year end (current forecast outturn £1.3m) as detailed at Appendix G of the report. A further £0,680m had been spent as at the end of January 2025, although this was still a low percentage of expenditure at this stage of the financial year, works had been constrained by the availability of contractors and billing of capital works.

e)    invited members questions and comments.

Members of Housing Scrutiny Sub-Committee considered the content of the report in further detail, asked questions and received relevant responses from officers as follows:

Question: Could officers give advice as to how the burden of increases in employers NI contributions would be met/balanced in the housing budget?

Response: Officers would look into this matter and report back to members of Housing Scrutiny Sub-Committee under separate cover.

Question: Could officers advise whether the Aids and Adaptations budget was ring-fenced and provide figures for current forecast underspend?

Response: Officers would provide the requested information/figures to members of Housing Scrutiny Sub-Committee under separate cover.

RESOLVED that:

1. Further information be provided to members as requested above.

2. The financial performance for the period 1 April 2024 to 31 December 2024 be noted with thanks.