Issue - meetings

Report of the Head of Finance

Presented by the Corporate Portfolio Holder

The Housing and Customer Services Portfolio Holder presented the report to Members.

He advised that the report before them asked Cabinet to agree the 2020/21 budget proposals for statutory consultation, including the 2.7% rent increase in line with the Governments national rent increase policy.

He highlighted that the draft HRA Budget for the next year showed a projected balanced budget, with a £2.5m surplus and included in the report was a range of budget proposals including savings, cost pressures, staffing increases and developments to service areas. 

He noted the following key features:

-       A contribution of £250k of revenue to the HRA Capital Programme to fund a new pilot project to regenerate an existing council housing estate; and

-       Inclusion of a £225k Journey to Self Sufficiency savings target.

-       A Revenue Contribution to Capital Outlay will be made again next year to boost new council housing supply within the HRA Capital Programme. 

He outlined that consultation with council tenants would be undertaken throughout the remainder of December, with responses reported to Cabinet and Council as part of the approval process for the final budget. He added that the HRA continued to have adequate reserves and continued to maintain the £13m set aside for the redemption of self-financing loans due for payment in 2022.

It was moved by Councillor R D Bayliss, seconded by Councillor N J Rushton and

RESOLVED THAT:

1.    The assurance statement by the S151 Officer be noted; and

2.    The draft HRA budget proposal, including the 2.7% rent increase, as detailed in the report and associated appendices be approved for consultation

Reason for decision: To enable the Council to set a balanced Housing Revenue Account Budget for 2020/21.