Issue - meetings

Report of the Chief Executive

Presented by the Corporate Portfolio Holder

The Housing Portfolio Holder presented the report to Members.

He informed Members that the report before them asked Cabinet to agree the 2018/19 budget proposals for statutory consultation which included the 1% rent decrease in line with the Governments four year rent reduction. He highlighted that the budget showed a projected balanced budget, with a £3m contribution to the Loan Redemption Reserve. This would take the estimated Loan Repayment Reserve balance to £11.2m which in turn meant the money would be ready for repayment before the 2022 date. He added that the General Balance would remain at the agreed minimum level of £1m and that a saving of rent loss and Council Tax charges had arisen following the reduction in void properties.

Councillor N J Rushton stated that authority had dealt with the unplanned 1% decrease well as he was aware that there were other Councils that had found it difficult to deal with and that he was pleased to see that it was forecasted that the loans would be paid back before the deadline.

Councillor R Blunt thanked the Deputy S151 Officer for all her work on her first budget for the authority.

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

RESOLVED THAT:

A. The Assurance Statement by the Deputy S151 officer be noted,

B. The draft HRA budget proposal, including the 1% rent decrease, as detailed in the report and associated appendices for consultation.

Reason for decision: To enable the Council to set a balanced Housing Revenue Account Budget for 2018/19.