Issue - meetings

Report of the Cabinet Member Finance and Assets

RESOLVED THAT:

1.    The appropriation of assets between the Housing Revenue Account (HRA) and the General Fund (GF) as set out in Appendix 2, be approved, with effect from 1^st April 2022.

The Cabinet Member Finance and Assets presented the report, noting that the Housing Revenue Account (HRA) was a ring-fenced account within the General Fund which primarily contained income arising from the housing authority’s landlord functions. Back in 2020, the government issued revised guidance regarding what could and could not be charged into an authority’s HRA. The properties concerned were generally shops and other commercial premises such as banks, where there was no longer any connection with the local authority’s housing. He noted that this would go towards the savings target identified in 2022/23 budget proposals, and removed the risks associated with commercial properties from the HRA. He added that two properties would also be incorporated into the HRA as a result of the proposals, one of which (9 Grasmere Road) had been bequeathed to the council in 2021.

The Cabinet Member Culture, Wellbeing and Business praised this as a logical approach which should benefit all parties.

The Leader moved to the vote, where it was unanimously:

RESOLVED THAT:

1.    The appropriation of assets between the Housing Revenue Account (HRA) and the General Fund (GF) as set out in Appendix 2, be approved, with effect from 1^st April 2022.