Policy & Resources Committee
Date of meeting: 9 February 2023
Agenda Item 124
officer Amendment
HRA Housing Revenue Account Budget & Capital Investment Programme 2023/34 and Medium-Term Financial Strategy
1. Minor Revision to the wording of the recommendations in the report. To read as follows:
That Policy & Resources Committee agree:
2.7 That the updated HRA Revenue Budget for 2023/24 as shown in section 4 of the Housing Committee report (page 548) and Appendix 1 (page 559) to that report be agreed and recommended to Full Council for approval as amended by the Joint Labour/Green amendment set out on page 539 and described in the ‘Implications of amendments’ document on pages 517-537.
2.8 A capital programme of £57.791m for 2023/24 and recommends to Full Council for approval the 5-year programme as set out in Appendix 3 (page 569) as amended by the Joint Labour/Green amendment set out on page 539 and described in the ‘Implications of amendments document on pages 517-537.
2. Update on page numbers referred to in Implications of amendments (pages 517 – 537). Changes in red.
Implications of amendments agreed at January 18th Housing Committee – Agenda Item, 60 Housing Revenue Account Budget & Capital Investment Programme 2023/24 and Medium-Term Financial Strategy
Member decisions made at the January 18th Housing Committee to the Housing Revenue Account Budget & Capital Investment Programme 2023/24 and Medium-Term Financial Strategy report were based on agreement to the attached joint Labour / Green Amendment to item 60.
The committee agreed amendments impact on the following paragraphs.
The paragraph below explains the implication of amendment 2, this was not in the original Housing Committee report and should be read after paragraph 4.7 of the 18th January Housing Committee report pack.
As outlined in table 3 below social rents are to be uplifted by the permitted 7%, as amended by Housing Committee a more tailored approach is being taken for the Living Wage rents. The uplifts for these rent levels are to be capped at the average cash increase for social rents. This equates to a 4.5% and 3.4% increase for 27.5% Living Wage rents and 37.5% Living Wage rents respectively. LHA Rates are frozen at the current rates.
Paragraph 4.11 of the 18th January Housing Committee report pack should now read a 15.5% increase and 16.7% increase for gas and electricity respectively instead of 50%.
Amendment 3 impact (Paragraph 6.13)– ‘Increase the home purchases in the Capital programme by adding 15 purchases for TA use’.
The introduction paragraph in appendix 4 to the 18th January Housing Committee report pack should now read.
The focus for the Medium Term Financial Strategy (MTFS), outlined in Appendix 4, will remain on delivering the key priorities. However, to ensure Value for Money is maintained, an assumption has been made that the MTFS will identify efficiencies of c.0.5% per annum of expenditure budgets (excluding financing costs). This will also include a review of all income streams during 2023/24 to ensure the HRA maximises all of its income streams. As amended by Housing Committee, this includes ‘exploring increasing commercial rents in HRA properties by 3% (with discretion to waive increases where social value may be at risk), raising up to £17k to add to the working balance’.
The committee agreed amendments impact on the following tables.
Revenue Implications:
Replacement for
table 1 on page 144 548
|
Table 1 – 2023/24 Revenue Budget changes |
2022/23 Adjusted budget |
2023/24 Inflation |
2023/24 Investments |
2023/24 Other Changes |
2023/24 Original Budget |
2023/24 FTE |
|
Expenditure |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
|
|
Housing Investment & Asset Management |
4,997 |
312 |
0 |
24 |
5,333 |
64.6 |
|
Housing Management & Support |
5,846 |
607 |
0 |
(76) |
6,377 |
15.1 |
|
Housing Strategy & Supply |
1,515 |
51 |
0 |
(110) |
1,456 |
37.6 |
|
Repairs & Maintenance |
14,112 |
990 |
1,146 |
(54) |
16,194 |
201.4 |
|
Tenancy Services |
12,233 |
1,153 |
438 |
219 |
14,043 |
214.7 |
|
Revenue Contribution to Capital |
19,096 |
0 |
0 |
185 |
19,281 |
|
|
Capital Financing Costs |
5,865 |
0 |
0 |
489 |
6,354 |
|
|
Total Expenditure |
63,664 |
3,113 |
1,584 |
677 |
69,038 |
533.5 |
|
Income |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
|
|
Rents Dwellings |
(55,954) |
(3,946) |
0 |
(808) |
(60,708) |
|
|
Rents Car Parking / Garages |
(1,000) |
(119) |
0 |
(17) |
(1,136) |
|
|
Commercial Rents |
(600) |
0 |
0 |
0 |
(600) |
|
|
Service Charges |
(5,924) |
(396) |
0 |
15 |
(6,305) |
|
|
Other Income |
(186) |
(3) |
0 |
(100) |
(289) |
|
|
Total Income |
(63,664) |
(4,464) |
0 |
(910) |
(69,038) |
|
|
DEFICIT / (SURPLUS) |
0 |
(1,351) |
1,584 |
(233) |
0 |
|
Replacement for
table 3 on page 146 550
|
Table 3 - Average weekly rent increases |
|
||||
|
Rent Type |
No. of tenancies |
22/23 Average weekly rent
£ |
23/24 Estimated average weekly rent £ |
% increase |
|
|
Social |
11,209 |
89.7 |
95.98 |
7.0% |
|
|
Affordable at 27.5% Living Wage |
46 |
137.55 |
143.75 |
4.5% |
|
|
Affordable at 37.5% Living Wage |
139 |
185.06 |
191.36 |
3.4% |
|
|
Affordable at LHA |
206 |
184.65 |
184.65 |
0.0% |
|
|
Affordable at LHA TA |
167 |
158.13 |
158.13 |
0.0% |
|
Replacement for
table for budget reconciliation table in appendix 1 on page
155 559
|
Budget Reconciliation |
|
|
|
Inflation |
£'000 |
£'000 |
|
Inflation related to the cost of utilities |
885 |
|
|
Inflation related to the cost of Repairs & Maintenance for works and materials |
938 |
|
|
Inflation related to salary costs |
750 |
|
|
Corporate Inflation rates applied to other expenditure (including SSC's) |
540 |
|
|
Total Expenditure Inflation |
3,113 |
|
|
Income |
||
|
Rent inflation |
(3,946) |
|
|
Service Charge inflation as per appendix 3 |
(396) |
|
|
Corporate Inflation rates applied to other income |
(122) |
|
|
Total Income Inflation |
(4,464) |
|
|
Total Inflation related changes |
|
(1,351) |
|
Investments |
£'000 |
£'000 |
|
Expenditure |
|
|
|
Investment in the HRA apprenticeship programme. |
426 |
|
|
Investment required for the Transition Team, including a key procurement role to assist with the continued implementation and optimisation of the in-house Repairs and Maintenance Service. |
245 |
|
|
Net revenue investment in resources to comply with Health & Safety requirements e.g. permanent Electrical Testing Resource. |
335 |
|
|
Professional fees associated with the resourcing of specialist support for materials supply chain re-procurement-required by the in-house Repairs and Maintenance service. |
140 |
|
|
Investment in Tenancy Services that will ensure further support is provided for the increasing number of complex tenant’s’ cases, Anti-Social Behaviour issues and wider stock growth in the HRA. |
181 |
|
|
Short term increase in the bad debt provision to reflect the current collection rate. |
92 |
|
|
Increased investment in the tenancy fraud service. |
60 |
|
|
Management of ASH Die back works on HRA estates. |
55 |
|
|
Medium term plan to replace furniture at the council’s Seniors Housing schemes. |
50 |
|
|
Total Investments & Reinvestments changes |
|
1,584 |
|
Other Changes |
£'000 |
£'000 |
|
Expenditure |
|
|
|
Increase in Financing Costs |
489 |
|
|
Salary changes to ensure funding matches changes affecting all staff, including the low pay implementation and the assumed NJC pay award for 2023/24. |
(160) |
|
|
Direct Revenue Funding (DRF) Adjustment |
185 |
|
|
Net increase of other changes to bring budgets in line with expenditure |
163 |
|
|
Total Expenditure Other Changes |
677 |
|
|
Income |
|
|
|
Increase in new Supply rents |
(808) |
|
|
Other changes to bring budgets in line with income |
(102) |
|
|
Total Income Other Changes |
|
(910) |
|
Total Other Changes |
(233) |
|
|
Deficit / (Surplus) |
- |
Replacement for
table in appendix 2 on page 161 565
|
|
Tenants Charged (No.) |
Approx. not eligible for Housing Benefit (No.) |
2022/23 Average Weekly Charge £ |
2023/24 Average Weekly Charge £ |
Average Increase/Decrease £ |
Average Increase/Decrease % |
Comments |
|
Service Charges Eligible for Housing Benefit |
|
|
|
|
|
|
|
|
Seniors Housing - Common Ways |
876 |
209 |
£11.46 |
£11.01 |
-£0.45 |
-4% |
Charge increased in previous years to reflect increase in cleaning charge. |
|
Communal Cleaning |
5,465 |
2,996 |
£3.22 |
£3.62 |
£0.40 |
12% |
The increase reflects pay and price inflation. |
|
Seniors Housing - Laundry |
850 |
191 |
£2.80 |
£3.20 |
£0.40 |
14% |
The change is as a result of higher electricity prices and reflects 15.5% of the utility inflation increase being introduced in 2023/24. |
|
Seniors Housing - Intensive Management |
873 |
195 |
£23.42 |
£24.67 |
£1.25 |
5% |
Increase relates to costs incurred in providing the IH service. |
|
Grounds Maintenance |
5,777 |
2,777 |
£0.86 |
£0.93 |
£0.07 |
8% |
The increase reflects
the increased costs of the service |
|
TV Aerials |
5,837 |
2,854 |
£0.84 |
£0.91 |
£0.07 |
8% |
The increase reflects annual servicing contract inflation and reactive repairs. |
|
Door Entry Servicing and Maintenance |
4,020 |
2,358 |
£0.57 |
£0.62 |
£0.04 |
7% |
The increase reflects contract inflation. |
|
Electricity - Communal Ways |
5,482 |
2,879 |
£1.01 |
£1.17 |
£0.16 |
16% |
The change is as a result of higher electricity prices and reflects 15.5% of the utility inflation increase being intrododuced in 2023/24. |
|
Lift Servicing and Maintenance |
2,606 |
1063 |
£1.07 |
£1.20 |
£0.13 |
12% |
The increase reflects
annual contract inflation and reflects |
|
|
Tenants Charged (No.) |
Approx. not eligible for Housing Benefit (No.) |
2022/23 Average Weekly Charge £ |
2023/24 Average Weekly Charge £ |
Average Increase/Decrease £ |
Average Increase/Decrease % |
Comments |
|
Service Charges NOT Eligible for Housing Benefit |
|
|
|
|
|
|
|
|
Water Charges |
242 |
N/A |
£4.98 |
£5.61 |
£0.63 |
13% |
The increase is due to forecast inflation increase for water charges. |
|
Communal Heating – Electricity |
127 |
N/A |
£11.77 |
£13.59 |
£1.82 |
15% |
The change is as a result of higher electricity prices and reflects 15.5% of the utility inflation increase being intrododuced in 2023/24. |
|
Communal Heating – Gas |
1,234 |
N/A |
£8.13 |
£9.39 |
£1.26 |
15% |
The change is as a result of higher electricity prices and reflects 16.7% of the utility inflation increase being intrododuced in 2023/24. |
|
Garages and Car Parking |
2,629 |
N/A |
£9.88 |
£10.88 |
£1.00 |
10.1% |
CPI September inflationary increase. |
|
Mobility Scooter and Cycle Storage |
35 |
N/A |
£2.60 |
£2.86 |
£0.26 |
10.1% |
CPI September inflationary increase. |
Capital Implications:
Replacement for
table in appendix 3 on page 165 569
|
|
For Approval |
For info |
|
|||||
|
|
Proposed Budget
2023/24 |
Profiled Budget
2023/24 |
Total Budget
2023/24 |
Provisional Budget
2024/25 |
Provisional Budget
2025/26 |
Provisional Budget
2026/27 |
Provisional Budget
2027/28 |
Description |
|
Programme Expenditure |
|
|
|
|
|
|
|
|
|
Delivery of New Council Homes |
|
|
|
|
|
|
|
|
|
Home Purchase Policy |
18,750 |
1,000 |
19,750 |
6,250 |
4,500 |
2,650 |
|
Continued delivery of the Home Purchase Policy. As amended 2023/24 budget would allow up to 75 properties. 25 properties in 2024/25 and 20 properties 2025/26 and 10 properties in 2026/27. |
|
Other Acquisitions |
|
5,205 |
5,205 |
|
|
|
|
Budget for the purchase of
properties outside of the Home Purchase Policy, where opportunities
and business cases present |
|
Feasibility |
350 |
|
350 |
300 |
200 |
|
|
Feasibility budget required to bring forward the new supply pipeline. |
|
Converting spaces in existing buildings |
1,730 |
516 |
2,246 |
2,200 |
2,200 |
|
|
Continued delivery of the Hidden Homes scheme where underutilised spaces are converted into new council homes. |
|
Design Competition |
682 |
1,625 |
2,307 |
|
|
|
|
Previous budget approved for Frederick Street and Rotherfield Crescent profiled in the financial years to match the latest deliver programme. |
|
Moulsecoomb Hub land |
|
9,014 |
9,014 |
|
|
|
|
The appropriation is expected to take place during 2023/24. The November committee report requested further budget to bring the project up to the planning with final scheme and budget approval to be taken back to committee during 2022.The budget line reflects the approvals given to bring the scheme up to RIBA stage 3. Further detail can be found in the Housing Committee report from 22nd June 2022. |
|
Windlesham Close |
1,350 |
685 |
2,035 |
4,341 |
|
|
|
Approval given for this scheme at the 1st July 2022, the budget has been profiled to match the latest estimates of the cashflow. |
|
Palace Place |
|
1,608 |
1,608 |
|
|
|
Approval given for this scheme at the 1st July 2022, the budget has been profiled to match the latest estimates of the cashflow. |
|
|
Belgrave Day Centre, Portslade |
934 |
|
934 |
332 |
|
|
|
Purchase of 49 homes from HBH LLP at the Portslade site. |
|
Coldean Lane, North of Varley Halls |
6,160 |
(813) |
5,347 |
857 |
|
|
|
Purchase of 127 homes from HBH LLP at the Coldean site. Final budget lines following the construction of homes during the previous financial years. |
|
Total Delivery of New Council Homes |
29,956 |
18,840 |
48,797 |
14,280 |
6,900 |
2,650 |
|
|
|
Improving Housing Quality |
|
|
|
|
|
|
|
|
|
Main Door Entry Systems & CCTV |
817 |
|
817 |
700 |
700 |
700 |
700 |
Repair and replacement of Main Entrance Doors. Long term programme of door entry system replacements, as systems fail or reach the end of their serviceable life, with spare parts unable to be sourced. These two programmes are reviewed alongside each other and works coordinated where feasible to ensure value for money. Installation and upgrade of CCTV systems to increase security of blocks. |
|
Water Tanks, Ventilation, Lighting & Lightning Protection & Fire Alarms |
1,930 |
|
1,930 |
1,600 |
1,490 |
1,500 |
1,580 |
Projects help meet statutory requirements and ensure safety and welfare for residents through replacement and improvements. |
|
Lifts |
880 |
|
880 |
1,980 |
1,130 |
1,000 |
1,000 |
The lift replacement and upgrade programme is a long-term commitment to council residents. The majority of lifts have now been replaced since its inception, and the programme is under ongoing review to ensure it continues to provide good value for money. |
|
Fire Safety & Asbestos Management |
3,320 |
|
3,320 |
2,590 |
2,590 |
2,390 |
2,390 |
Effectively managing the risks of both fire and asbestos materials is an ongoing need. Includes both statutory requirements and provision for enhanced fire safety measures. In particular, including provision for a programme of EWS1 surveys in 23/24. |
|
Minor Capital Works |
520 |
|
520 |
795 |
810 |
851 |
894 |
Investment in smaller capital repairs across the HRA stock as well as investing in car parks and garages. |
|
Condensation & Damp Works |
500 |
|
500 |
280 |
280 |
294 |
309 |
Health and welfare of council residents is assisted by tackling issues arising from condensation and damp in properties. The budget for 2023/24 has been increased following the tragic Rochdale Borough Homes case and will keep this budget under review. |
|
Major Structural works |
2,338 |
5,760 |
8,098 |
8,383 |
6,500 |
6,300 |
6,200 |
Meeting our landlord obligations through maintaining the structural and general external integrity of properties. |
|
Major Empty Property works |
220 |
|
220 |
220 |
220 |
220 |
220 |
Extensive refurbishment of empty homes prior to re-letting. |
|
Cyclical Repairs & Decorations |
1,384 |
|
1,384 |
1,605 |
1,188 |
1,247 |
1,309 |
External and common way repairs and decorations across the city help reduce ongoing costs and keep properties well maintained. Housing Investment and Asset Management team work closely with residents to ensure internal decorations in blocks are consistently delivered across the city. |
|
Seniors Housing Improvements |
330 |
|
330 |
330 |
330 |
200 |
200 |
Meets the identified need from November 2019 to invest in the council’s Seniors Housing schemes to improve security, accessibility and address any structural issues identified. |
|
Future capital projects |
250 |
|
250 |
250 |
250 |
250 |
250 |
Specialist and other surveys to support future programmes. |
|
Dwelling Doors |
990 |
|
990 |
990 |
990 |
1,040 |
1,092 |
Replacing doors to properties with secure and efficient design helps residents feel safer. This programme includes the provision of fire-rated doors to dwellings where required. |
|
Kitchens & Bathrooms |
2,480 |
|
2,480 |
2,590 |
2,590 |
2,720 |
2,856 |
This budget helps to ensure homes comply with the Brighton & Hove Standard. |
|
Rewiring - Domestic/ Communal |
1,735 |
|
1,735 |
1,820 |
1,840 |
1,932 |
2,029 |
Safe and reliable and compliant electrical installations and efficient lighting are supported from this budget. |
|
Windows |
1,443 |
200 |
1,643 |
2,154 |
2,135 |
2,242 |
2,354 |
Window replacement programmes meet the council's landlord obligations, improve energy efficiency, warmth and reduce ongoing repair costs. |
|
Roofing |
1,223 |
|
1,223 |
1,205 |
1,100 |
1,155 |
1,213 |
Helps to extend the life of assets, improves insulation and reduces responsive repairs. |
|
Sustainability & Carbon Reduction |
|
|
|
|
|
|
|
|
|
Domestic/Communal Heating Improvements |
2,230 |
|
2,230 |
2,530 |
2,640 |
2,772 |
2,911 |
Efficient and modern replacement heating systems improve thermal comfort, reduce carbon emissions and resident fuel costs. |
|
Energy Efficiency & Low Carbon Heating |
1,670 |
|
1,670 |
1,740 |
3,300 |
2,000 |
2,000 |
This programme will help take up a range of opportunities to further improve the energy rating of our homes and to identify projects that will help move towards zero carbon from our service delivery activities by 2030. |
|
New Solar Panels Programme |
440 |
800 |
1,240 |
1,540 |
1,540 |
1,000 |
1,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Environmental Improvements |
625 |
100 |
725 |
360 |
360 |
360 |
360 |
This budget funds
environmental and communal area improvement work based on resident
priorities. |
|
Disabled Aids & Adaptations |
1,600 |
|
1,600 |
1,600 |
1,600 |
1,600 |
1,600 |
Enabling vulnerable residents to continue to live independently in their homes through investment in housing adaptations. |
|
Conversions & Extensions |
660 |
|
660 |
700 |
730 |
750 |
750 |
Tackling overcrowding across the city is of key importance to ensure good quality housing. |
|
Total Investment in existing Housing Stock |
27,585 |
6,860 |
34,445 |
35,962 |
34,313 |
32,523 |
33,217 |
|
|
Total Other Projects |
250 |
|
250 |
250 |
100 |
100 |
100 |
|
|
Total Programme |
57,791 |
25,700 |
83,491 |
50,492 |
41,313 |
35,273 |
33,317 |
|
|
Programme Funding |
|
|
|
|
|
|
|
|
|
Revenue Contribution to investment in existing housing stock |
19,281 |
19,281 |
18,757 |
19,830 |
18.313 |
18,589 |
24/25 to 27/28 figures are illustrative and will be adjusted accordingly as the 30 year business plan is updated. |
|
|
Borrowing |
31,187 |
20,872 |
52,059 |
24,103 |
19,953 |
16,165 |
14,728 |
Borrowing required to fund capital investment. |
|
HRA reserves |
1,090 |
|
1,090 |
4,800 |
|
|
|
Useable revenue and capital reserves. |
|
Capital Receipts |
525 |
|
525 |
|
|
|
|
Capital receipts for use against new housing delivery. |
|
RTB Receipts |
2,028 |
1,074 |
3,102 |
2,652 |
1,350 |
795 |
|
Retained RTB receipts for New Build. |
|
Energy Grants/FITs |
180 |
|
180 |
180 |
180 |
|
|
Funding received to support sustainability and carbon projects. |
|
Grant Funding |
|
2,649 |
2,649 |
|
|
|
|
Land Release Funding grant received and Homes England grant for the purchase of HBH LLP Properties. |
|
Commuted Sums |
2,700 |
300 |
3,000 |
|
|
|
Funding to support the purchase of properties through the Home Purchase Policy. |
|
|
Leaseholder Income |
800 |
|
800 |
|
|
|
|
|
|
Earmarked rent reserve |
|
805 |
805 |
|
|
|
|
|
|
Total Funding |
57,791 |
25,700 |
83,491 |
50,492 |
41,313 |
35,273 |
33,317 |
|
Medium Term Financial Strategy Implications:
Replacement for
tables in appendix 4 on page 175 and 177 579 and 581
|
|
2023/24 |
2024/25 |
2025/26 |
2026/27 |
2027/28 |
|
|
|||||
|
Expenditure |
|
|
|
|
|
|
Management & Service Costs |
23,854 |
25,764 |
26,150 |
26,504 |
26,866 |
|
Repairs and Maintenance |
18,226 |
20,339 |
21,332 |
21,709 |
22,076 |
|
Other Costs |
1,323 |
1,388 |
1,416 |
1,444 |
1,473 |
|
Borrowing costs |
6,354 |
8,023 |
8,565 |
9,462 |
9,826 |
|
Total Expenditure |
49,757 |
55,514 |
57,463 |
59,119 |
60,241 |
|
Income |
|
|
|
|
|
|
Rental Income |
(60,708) |
(65,518) |
(68,227) |
(68,307) |
(69,512) |
|
Service Charges (Tenants) |
(4,611) |
(4,833) |
(5,015) |
(5,009) |
(5,100) |
|
Other Income |
(3,719) |
(3,920) |
(4,051) |
(4,116) |
(4,218) |
|
Total Income |
(69,038) |
(74,271) |
(77,293) |
(77,432) |
(78,830) |
|
Net Revenue Income |
(19,281) |
(18,757) |
(19,830) |
(18,313) |
(18,589) |
|
|
Years |
Years |
Years |
Years |
|
|
|
|||||
|
|
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
|
Expenditure |
|
|
|
|
|
|
Management & Service Costs |
129,138 |
139,413 |
311,958 |
363,163 |
943,672 |
|
Repairs and Maintenance |
103,682 |
116,119 |
264,403 |
315,961 |
800,165 |
|
Other Costs |
7,044 |
7,821 |
18,169 |
22,149 |
55,183 |
|
Borrowing costs |
42,230 |
64,808 |
137,347 |
148,439 |
392,824 |
|
Total Expenditure |
282,094 |
328,161 |
731,877 |
849,712 |
2,191,844 |
|
Income |
|
|
|
|
|
|
Rental Income |
(332,272) |
(368,131) |
(838,781) |
(1,002,294) |
(2,541,478) |
|
Service Charges (Tenants) |
(24,568) |
(27,042) |
(62,127) |
(74,885) |
(188,622) |
|
Other Income |
(20,024) |
(22,714) |
(54,183) |
(67,697) |
(164,618) |
|
Total Income |
(376,864) |
(417,887) |
(955,091) |
(1,144,876) |
(2,894,718) |
|
Net Revenue Income |
(94,770) |
(89,726) |
(223,214) |
(295,164) |
(702,874) |
|
Capital Expenditure |
|
|
|
|
|
|
Capital Investment programme |
171,260 |
154,814 |
313,819 |
307,637 |
947,530 |
|
Development |
72,627 |
- |
- |
- |
72,627 |
|
Total Expenditure |
243,887 |
154,814 |
313,819 |
307,637 |
1,020,157 |
|
Funded By: |
|
|
|
|
|
|
Other Capital Income |
(22,109) |
- |
- |
- |
(22,109) |
|
Borrowing |
(127,008) |
(65,088) |
(95,267) |
(21,969) |
(309,332) |
|
HRA Reserves |
(0) |
(1,752) |
(2,444) |
(24,632) |
(28,828) |
|
Direct Revenue Funding |
(94,770) |
(87,974) |
(216,108) |
(261,036) |
(659,888) |
|
Total Funding |
(243,887) |
(154,814) |
(313,819) |
(307,637) |
(1,020,157) |
|
Opening HRA reserves |
(3,000) |
(3,000) |
(3,000) |
(7,662) |
(3,000) |
|
(To) / From Reserves |
0 |
0 |
(4,662) |
(9,496) |
(14,158) |
|
Cash surplus at year 30 |
(3,000) |
(3,000) |
(7,662) |
(17,158) |
(17,158) |