Decision details

To provide an update on the HRA Capital Programme

Cabinet

(a)          Noted the outturn position of a £2.742 million underspend for the Housing Revenue Account (HRA) Capital Programme and that, of this, £1.124 million was at that time proposed for reprofiling into future years;

(b)          Consider the updated HRA capital programme at Appendix B which has been re-profiled in line with the expected timing of spend and amended in line with expected levels of spend where appropriate; 

(c)          Noted that, in order to finance the updated Capital Programme, borrowing of around £10 million was likely to be required during 2021/22;

(d)          noted that, following the abolition of the HRA debt cap, a local debt cap had been calculated as £250 million at 1^st April 2019 rising to £300 million as at 31^st March 2022;

(e)          Recommended to Full Council the revised HRA capital programme for the period 2019/2020 to 2024/2025, at Appendix B, to reflect amendments to, and the reprofiling of expenditure identified in the report.