Issue details

This report seeks Executive approval for the revised budget for 2015/16, the base budgets, rents and fees and charges for 2016/17 and the capital programme with its financing for the years 2015/16 to 2019/20.

The Executive recommended and the Council approved, in February 2015, the base budget and rent increase for 2015/16, for Housing Revenue Account (HRA) services.

This report sets out the Housing Revenue Account revised budget for 2015/16 and base budget for 2016/17 along with the capital programme and financing for the years 2015/16 to 2019/20. The report examines the issues affecting the Housing Revenue Account including rent changes with effect from 4 April 2016.

Council budgets are susceptible to change 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.