Agenda item - Housing Revenue Account Budget and Investment Programme 2017/18 and Medium Term Financial Strategy.

Extract from the proceedings of the Policy, Resources & Growth Committee meeting held on the 9^th February 2017, together with a joint report of the Executive Director for Finance & Resources and the Executive Director for Neighbourhoods, Communities & Housing (copies attached).

81.1      The Mayor noted that the Housing Revenue Account Budget and Investment Programme 2017/18 and Medium term Financial Strategy had been taken into consideration as part of the overall budget debate as detailed under Item 78 above. 

81.2      He also noted that an amendment to the HRA budget had been carried and therefore asked for the voting system to be activated and put the recommendation of the Policy & Resources Committee as amended to the vote:

“It is proposed that the following additional saving is made in the Housing Revenue Account budget for 2017/18:

·      Increase the saving of £0.570m for Property and Investment (page 167) by £0.250m by delivering the housing capital investment programme within the planned timetable to reduce maintenance requirements. The Property & Investment budget has consistently underspent.

            The additional £0.250m recurrent resources generated will be used to:

·      Create a ring-fenced fund of £0.250m within the Housing Revenue Account to provide youth services for council housing households.”

81.3      The Mayor confirmed the motion had been carried unanimously.

81.4      RESOLVED: That the Housing Revenue Account Budget and Investment Programme 2017/18 and Medium term Financial Strategy detailed in appendix 1 to the report as amended be approved.