Decision details

This report seeks Executive approval for the revised budget for 2016/17, the base budgets, rents and fees and charges for 2017/18 and the Capital Programme with its financing for the years 2016/17 to 2020/21. 

The Executive recommended and the Council approved, in February 2016, the base budget and rent increase for 2016/17, for Housing Revenue Account (HRA) services.

This report sets out the Housing Revenue revised budget for 2016/17 and base budget for 2017/18 along with the capital programme and financing for the years 2016/17 to 2020/21.  The report examines the issues affecting the Housing Revenue Account including rent changes with effect from 3 April 2017.

Council budgets are susceptible to change in the level of expenditure and income caused by factors inside and outside the Council’s control.  A risk assessment has been carried out to indicate the effect on housing balances of changes in the level of expenditure and income.  This can be used to estimate the account balances needed to provide a prudent level of reserves and a working balance.

RESOLVED that the Executive agrees to recommend to Council that:-

(a)  rents be approved for Council Dwellings as set out in paragraph 11 with effect from 03 April 2017;

(b)  rents for Council garages be increased by 6.2% with effect from 03 April 2017;

(c)  discretionary fees and charges be increased with effect from 03 April 2017;

(d)  the revised budget for 2016/17 be approved;

(e)  the base budget for 2017/18 be approved;

(f)   the capital programme and financing for 2016/17 to 2020/21 be approved; and

(g)   annual budgets and assumptions are set with the aim of ensuring sufficient surpluses are held to repay debt on the date of maturity of each loan.