Agenda and minutes

(Enclosure)

The decisions from the meeting held on 4th August 2014 were agreed as a correct record.

None disclosed.

Report H&N06/14 from the Head of Housing & Neighbourhoods

(Enclosure)

Decision:

Cabinet approves the Housing Revenue Account Business Plan for 2014-2019 subject to minor amendments being agreed with the Portfolio Holder Good Housing and the Strategic Director for Community & Environment.

Considerations/reasons for decision:

1)              Report H&N06/14 from the Head of Housing & Neighbourhoods.

2)              The Housing Revenue Account (HRA) Business Plan (BP) sets out the Council’s priorities for social housing and how these would be delivered and financed over a thirty year period.

3)              The Plan sets out the key areas of focus for housing services and investment for the medium term whilst ensuring that sufficient revenue and capital resources were available to support long term investment in existing social housing stock and associated services.

4)              This was the first HRA BP to be prepared since the HRA became ‘self-financing’ in April 2012; the net effect of the self-financing arrangement was beneficial to the Council with £8 million being available to spend during the 2018/19 period without recourse to re-financing of existing borrowing or utilization of further borrowing headroom.

5)              The HRA Business Plan made a commitment to maximise investment in new housing; using reserves, capital receipts and borrowing capacity whilst maintaining a financially robust long term financial plan.

6)              Consultation on the HRA BP had been carried out with the Resources PDG and also the Tenants’ Service Review Groups.

7)              The Business Plan was fully funded and predicated on a range of financial assumptions which would be kept under review.

8)              The provision of a HRA BP was a requirement of s.88 of the Local Government Act 2003.

9)              Comments made by the Head of Housing & Neighbourhoods on commending the HRA BP for approval.

10)           Comments made by the Portfolio Holder for Good Housing also commending the HRA BP and the work undertaken by the Head of Housing & Neighbourhoods and his team in putting the plan together.

11)           Comments made by the Strategic Director Community & Environment on the final format of the Business Plan.

Other Options Considered:

No other options were considered as the HRA Business Plan was central to the delivery of the Council’s housing services.

Decision CO18 as made on 1st September 2014 can be implemented on Wednesday 10th September 2014, unless subject to call-in by the Scrutiny Committee Chairman or any five members of the Council from any political group.