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

1)     That Policy & Resources Committee:

(a)       note that the HRA revenue budget 2016/17 savings proposals have increased by £0.133m since being reported to Housing & New Homes Committee as detailed in paragraph 3.4.

(b)       approves and recommends to Council the updated HRA revenue budget for 2016/17 as shown in Appendix 1

(c)       approves a rent reduction of 1% in line with draft government legislation as detailed in paragraph 3.7, including seniors sheltered housing rents.

(d)       approves service charges and fees as detailed in Appendix 2 and delegates authority to the Acting Executive Director of Environment, Development & Housing to make further amendments to communal service charges and laundry charges (to ensure cost recovery) once notification of new contract prices (from April 2016) has been received.

(e)       approves the capital programme expenditure and financing budget of £43.047 million for 2016/17 and notes the 4 year programme as set out in Appendix 3.

(f)        notes the Medium Term Financial Strategy and 30 year financial projections shown in Appendix 4.

(g)       notes the feedback from Area Panel representatives consultation as detailed in Appendix 5

2)     That the Committee recommends that Council:

(a)       approves the updated HRA revenue budget for 2016/17 as shown in Appendix 1

(b)       notes the Medium Term Financial Strategy and 30 year financial projections shown in Appendix 4.