Issue - meetings
Housing Revenue Account (HRA) Business Plan 2014/2044 and HRA Revenue and Capital Budget 2015/2016
Meeting: 10/02/2015 - Cabinet (Item 7)
7 Housing Revenue Account Capital and Revenue Budgets 2015/2016 
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Additional documents:
Minutes:
Background:
This report provided details of the Housing Revenue Account (HRA) revenue budgets for 2015/2016 and also:
· contained details of the proposed 3 year capital programme budget;
· provided details of proposed rent and service charges levels for 2015/16;
· provided an update on the HRA Business Plan which is an integral part of the strategic planning and setting of priorities for the HRA Service.
The report informed Members that the Government had recently introduced a new rent setting formula for social housing landlords to follow for rent increases from April 2015. This policy and proposal had been subject to consideration at the Business Support Overview and Scrutiny Committee on 26 August 2014 and 7 October 2014, and was approved by Cabinet on 30 October 2014.
The Business Support Overview and Scrutiny Committee considered this report on 3 February 2015 and its comments were set out in an addendum report (Supplementary Agenda No.2).
A Diversity Impact Assessment had been carried out on the proposals, as set out in Appendix F to the report.
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Decision number: |
Decision: |
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The Cabinet noted the recommendations from the Business Support Overview and Scrutiny Committee. |
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24/2015 |
The Cabinet recommended to Council: (a) A proposed average rent increase of 2.2% for the housing stock as set out in Appendix A to the report (based upon 50 collection weeks) and a rent increase of 1.2% for garages. (b) To approve the harmonisation of all garage rents, charging across all garage sites managed by the HRA Service specifically those as set out as per Appendix B. (c) That the service charges and increases as set out in appendix C to the report for 2015/16 be approved. (d) That the revenue budget for the HRA Service for 2015/16 as per Appendix D to the report be approved. (e) That the provision for the repayment debt continues to be based on a minimum revenue payment of 2% on the 2015/2016 HRA opening outstanding debt. (f) That a three year capital programme as set out in paragraph 8.5 of this report be agreed. (g) To increase the 2015/16 HRA housing building development programme amount by the 2014/2015 MRP payment as set out in paragraph 9.4 of this report. |
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25/2015 |
The Cabinet adopted the attached HRA Business Plan 2014 – 2044 as set out in Appendix E to the report. |
Reasons:
The Council is required to carry out an annual review of rents and notify tenants not less than 28 days prior to the proposed date of change. The Council is required under the Local Government and Housing Act 1989 to ensure that the Housing Revenue Account does not fall into a deficit position.
Local Authorities are required to produce and maintain a HRA Business Plan that meets the Governments ‘fit for purpose’ criteria. The adoption of this Business Plan would allow the Council to continue to meet this requirement.