Decision details

This report seeks Executive endorsement for the Housing Revenue Account revised budget for 2013/14, the base budget, rent increases and fees and charges for 2014/15 and the capital programme and it's financing for the years 2013/14 to 2017/18.

The Executive recommended and the Council approved, in February 2013, the base budget and rent increase for 2013/14, for Housing Revenue Account services.

This report sets out the Housing Revenue Account revised budget for 2013/14 and base budget for 2014/15 along with the capital programme and it's financing for the years 2013/14 to 2017/18.  The report examines the issues affecting the Housing Revenue Account including rent increases with effect from 7 April 2014.

Council budgets are susceptible to changes in the level of expenditure and income caused by factors 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 following proposals be approved and recommended to the Council for approval:

(a)       individual rent increases in line with the rent restructuring model for Council dwellings with effect from 7 April 2014;

(b)       that rents for Council garages be increased by 5% with effect from 7 April 2014;

(c)       that discretionary fees and charges be increased to provide a minimum increase of 5%, where possible, with effect from 7 April 2014;

(d)       the revised budget for 2013/14;

(e)       the base budget for 2014/15;

(f)        the capital programme and financing for 2013/14 to 2017/18; and

(g)       that 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.