Issue - meetings

Resolved: that the response be noted. It was also agreed that officers would provide additional information about the different work carried out using HRA revenue/capital funding.

4.1    David Austin (Acting Chief Finance Officer) introduced the report, the following key points were noted:

·         The report provided an update on officers’ response to the financial control review. A number of the actions in the plan had been completed, several others were in progress but none had been delayed.

·         Additional information was provided regarding the Committee’s comments on the use of the housing revenue account (which was the one recommendation from the financial control review that had not been agreed by officers).

·         The Committee’s comments about trading accounts had been noted – and it was recognised that this would be an important step forward to support the Council’s ambitions for income generation and commercialisation. However, it was important that the new Oracle financial system was in place and being used effectively before any attempts at innovation were made.

4.2    David Austin responded to questions from the Committee, the following key points were noted:

·         Lewisham Homes’ accounts were completed independently and audited separately (from the Council’s accounts) by KPMG but they were also consolidated into the Council’s accounts and reviewed by the Council’s external auditor, Gant Thornton.

·         There was sufficient separation between the budgets for maintenance and the redevelopment budgets at Lewisham Homes. However, there were instances where there might be a crossover.

·         There were no current plans to take money from the existing HRA capital programme for general repairs and maintenance.

·         A significant amount of refurbishment had been carried out under the decent homes programme. Maintenance and repairs budgets over a number of years might fluctuate in response to the work that was being carried out.

4.3    In the Committee’s discussion, the following key point was also noted:

·         Members questioned the fluctuations in the repairs and maintenance budget for housing funded through the HRA.

4.4    Resolved: that the response be noted. It was also agreed that officers would provide additional information about the different work carried out using HRA revenue/capital funding.