Issue - meetings

Report of the Strategic Director of Housing and Customer Services

Presented by the Corporate Portfolio Holder

Councillor R D Bayliss presented the report to members, drawing their attention to the recommendations in respect of taking a more flexible approach to future debt redemption post 2022. 

Councillor N J Rushton welcomed the flexibility and noted that the level of revenue contribution to capital outlay had increased at a time when rent reductions had been imposed.  He added that this additional spending on Council housing from the revenue budget would boost the Council’s housing supply. 

In response to questions from Councillor R Blunt about the loan portfolio, the Section 151 Officer advised that the interest rates were set at the time the loan was taken out and varied depending upon the type of loan (annuity or maturity), repayment profile and loan period. 

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 be approved, including the 1% rent decrease, as detailed in this report and associated appendices for consultation

Reason for decision: To enable the Council to set a balanced Housing Revenue Account Budget for 2019/20.