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Decision details

Housing Revenue Account Budget and Capital Plans 2018/19

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report seeks Executive approval for the revised budget for the Housing Revenue Account for 2017/18, the base budgets and rent increases for 2018/19 and the capital programme with its financing for the years 2017/18 to 2021/22.

 

The Executive recommended and the Council approved, in February 2017, the base budget and rent increase for 2017/18 for Housing Revenue Account (HRA) services.

 

This report sets out the Housing Revenue Account revised budget for 2017/18 and base budget for 2018/19 along with the capital programme and financing for the years 2017/18 to 2021/22.  The report examines the issues affecting the Housing Revenue Account including rent charges with effect from 02 April 2018.

 

The Council’s Housing Strategy, which includes the strategy for the new Fareham Housing department, is currently being prepared therefore the budget for 2018/19 will be reviewed again later in the year.

 

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:

RESOLVED that the Executive agrees:

 

(a)  that rents be approved for Council Dwellings, as set out in paragraph 13 of the Report, with effect from 02 April 2018;

 

(b)  an increase of 4.3% in rents for Council garages with effect from 02 April 2018;

 

(c)  the revised budget for 2017/18;

 

(d)  the base budget for 2018/19;

 

(e)  the capital programme and financing for 2017/18 to 2021/22 and;

 

(f)   that the Housing Revenue Account Budget and Capital Plans 2018/19 be submitted to Council for approval.

Report author: Caroline Hancock

Publication date: 07/02/2018

Date of decision: 05/02/2018

Decided at meeting: 05/02/2018 - Executive

Effective from: 17/02/2018

Accompanying Documents:

 

 




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