Agenda item - Housing Revenue Account Budget and Investment Programme 2016/17 and Medium Term Financial Strategy

Extract from the proceedings of the Policy & Resources Committee meeting held on the 11^th February 2016, together with a joint report of the Acting Director of Finance & Resources and the Acting Executive Director of Environment, Development & Housing (copies attached).

90.1.        The Mayor noted that the Housing Revenue Account Budget and Investment Programme 2016/17 and Medium term Financial Strategy 2016/17 had been taken into consideration as part of the overall budget debate as detailed under Item 87 above. 

90.2.        She also noted that an amendment to the HRA budget had been carried and therefore put the recommendations of the Policy & Resources Committee (1-2) as amended to the vote:

It is proposed that the following additional ongoing saving is made in the Housing Revenue Account budget for 2016/17:

·           Make further efficiencies of £0.075m across Housing Management by bringing forward service wide reviews and reducing reliance on agency staff.

·           Reduce the increase in direct revenue funding of the HRA capital programme by £0.070m.

To utilise the additional £0.145m resources generated to:

·           Remove the savings proposal of £0.145m in respect of HRA contribution to the community grants programme in order to support third sector organisations as the community grants programme moves to the new commissioning model.

90.3.        RESOLVED: That the Housing Revenue Account Budget and Investment Programme 2016/17 and Medium term Financial Strategy 2016/17 as amended be approved as detailed below:

90.1.        The Mayor confirmed that the motion had been carried by 32 votes to 20.