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.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 06/01/2017
Decision due: 6 Feb 2017 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Director of Finance & Resources
Contact: Caroline Hancock Email: chancock@fareham.gov.uk.
Background Papers: Report to the Executive (02 February 2016) - Housing Revenue Account Budget and Capital Plans 2016/17 and Report to Council (08 February 2016) - Finance Strategy, Capital Programme, Revenue Budget and Council Tax 2016/17.