Decision - Housing Revenue Account Budget and Capital Investment Programme 2020/21 and Medium Term Financial Strategy

RECOMMENDATIONS:

The Housing Committee approves:

2.1      That a rent increase of up to 2.7% in line with government legislation as detailed in paragraph 4.11 of the report;

2.2      That service charges and fees as detailed in Appendix 3 to the report;

2.3      That the contribution to Youth Services from the HRA will continue with the addition of inflation at a total cost of £0.255m in 2020/21 was noted;

2.4      That the proposal to set up a capital reserve of £2.900m for use in 2021/22 as discussed in paragraph 4.9 of the report was noted;

2.5      That the proposal to set up a new Rent Reduction Reserve for £1.010m (see paragraph 4.10 of the report) was noted;

2.6      That the current HRA forecast outturn for 2019/20 in Appendix 1 to the report of £0.200m underspend was noted; and

2.7      That the Medium-Term Financial Strategy and 30-year financial projections shown in Appendix 5 to the report was noted; and

The Housing Committee approves and recommends to Policy & Resources Committee:

2.8      That the updated HRA Revenue Budget for 2020/21 as shown in Appendix 2 to the report be agreed and recommended to full Council for approval;

2.9      That the Capital Programme Budget of £40.120m for 2020/21 be agreed and notes the 3-year programme as set out in Appendix 4 to the report and recommended to full Council for approval; and

2.10    That for 2019/20, any new revenue costs (estimated at £0.080m) arising from the increased support for delivery of housing supply, should be met from HRA general reserves.

That Full Council:

2.11    Approves the updated HRA Revenue Budget for 2020/21 as shown in Appendix 2 to the report;

2.12    Agrees the Capital Programme Budget of £40.120m for 2020/21  and the 3-year programme as set out in Appendix 4 to the report be noted; and

2.13    That for 2019/20, any new revenue costs (estimated at £0.080m) arising from the increased support for delivery of housing supply, should be met from HRA general reserves.