Issue - meetings

Background:

This report provided an update on the Housing Revenue Account (HRA) Business Plan, following the introduction of HRA Self Financing and revisions to the Housing Asset Management Strategy.

It was noted that the Housing Revenue Account Business Plan was a strategic update of the 2005-35 HRA Business Plan. The Asset Management Strategy also provided up to date information on the nature and condition of the council’s housing stock and HRA Assets and targets and options for these in the future.

Members were advised the Plan had been developed building on the work arising from the Annual Report to Tenants, along with resident surveys, consultation with Resident Forums and Focus Groups. The HRA’s Asset Management Group, which includes tenant representatives, had also considered and approved the strategy.

It was further noted that the Regeneration, Community and Culture Overview and Scrutiny Committee had considered this report on 27 June 2013. The Committee discussed the potential to build up significant financial Headroom created by self-financing over the period of the Plan and questioned the absence of a clear strategy for use of this resource in the report. Officers had advised that the alignment of the HRA Business Plan and Asset Management Plan would be followed by a further report providing an options appraisal and possible projects for utilisation of this headroom. The Committee asked for this further report by the end of the calendar year.

Reasons:

Local Authorities are required to produce and maintain a HRA Business Plan that meets the Government’s ‘fit for purpose’ criteria. The adoption of this Business Plan would allow the Council to continue to meet this requirement.