Issue - items at meetings - Housing Revenue Account Budget 2011/12

Joint report of the Strategic Director, Place and the Director of Finance (copy attached).

(1)    That Cabinet recommends Council to:

(a)       Approve the budget for 2011/12 as shown in Appendix 1.

(b)       Approve individual rent increases and decreases in line with rent restructuring principles as determined by the Government.

(c)        Approve the changes to fees and charges as detailed in paragraph 3.17 to 3.26.

166.1          The Cabinet considered a joint report of the Strategic Director, Place and the Director of Finance concerning the Housing Revenue Account (HRA) Forecast Outturn for 2010/11 as at month 9 and the proposed Budget for 2011/12.

166.2          The Cabinet Member for Housing praised the Head of Housing Management & Social Inclusion and the Head of Finance, Business Engagement for their work on the HRA.

166.3          Councillor Randall acknowledged that improvements had been made, but that there was still much to do. In light of the recently published HRA Government consultation and the information on prudential borrowing, it appeared that the proposed new subsidy system would be beneficial. He noted the ongoing problems of high private sector rents and waiting lists for council housing.

166.4          The Chairman advised that the council had slipped out of housing subsidy as a result of the “no” decision in the housing stock transfer vote and that the new Government proposals would provide the council with more money to invest in its housing stock. She stated that the Administration was committed to improving tenants’ homes and consulting with tenants at all times.

166.5          RESOLVED – That, having considered the information and the reasons set out in the report, the Cabinet accepted the following recommendations:

(1)         That Council be recommended to:

(a)         Approve the budget for 2011/12 as shown in Appendix 1.

(b)         Approve individual rent increases and decreases in line with rent restructuring principles as determined by the Government.

(c)         Approve the changes to fees and charges as detailed in paragraph 3.17 to 3.26.