Decision Maker: Cabinet
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: Yes
To consider the Housing Revenue Account Budget for 2020/2021 and to recommend the Budget to Council.
Housing Revenue Account (HRA): Revenue
Recommended that Full Council approve the HRA revenue budget for 2020/2021 as shown in the HRA Budget Summary as presented at Appendix A to the report;
HRA: Review of Rents and Charges
Approved that council dwelling rents for all social rented properties be increased by the Consumer Prices Index plus 1% (2.7%), in line with legislative requirements introduced as part of the Welfare Reform and Work Act, with effect from 1st April 2020;
Approved that affordable rents are reviewed in line with rent legislation, to ensure that rents charged are no more than 80% of market rent for 2020/2021. Local policy is to cap affordable rents at the lower level of Local Housing Allowance, which will result in rent variations in line with any changes notified to the authority in this level, effective from 1st April 2020;
Approved inflationary increases of 2% in garage rents for 2020/2021, in line with the base rate of inflation for the year assumed in the proposed HRA Budget.
Approved the proposed service charges for HRA services and facilities provided to both tenants and leaseholders, as shown in Appendix D.
Approved the required level of funding for new build investment between 2020/2021 and 2024/2025 to ensure that commitments can be met in respect of the investment of all right to buy receipts currently retained or anticipated to be received by the authority for this period. This expenditure will take the form of HRA new build, with the 70% top up met by other HRA resources;
Recommended that Full Council approve the HRA Medium Term Financial Strategy forecasts as shown in Appendix B;
Publication date: 05/02/2020
Date of decision: 05/02/2020
Decided at meeting: 05/02/2020 - Cabinet
Effective from: 15/02/2020