Issue - meetings

Report of the Cabinet Member Finance and Section 151 Officer

RESOLVED THAT

1. The revised HRA budget for 2013/14 be noted.

2. The interim HRA budget proposals for 2014/15 be approved for consultation including a proposed average rent increase of 4.03% (applied in accordance with national rent restructuring guidelines) and increases in other rents and charges as detailed at Appendix 5.

3. The proposed HRA capital programme for 2014/15 be approved as shown at Appendix 3.

4. The creation of an earmarked revenue reserve be approved to finance future new build in the HRA. The value of funds to be transferred to this reserve to be considered by Cabinet as part of the review of HRA outturn for each accounting year.

5. Authority be delegated to the Cabinet Member for Finance, in consultation with the Director of Resources, to approve the acquisition of private interests within sites identified for future development subject to the availability of funds as described in paragraph 5.5.

6. Authority be delegated to the Director of Resources, in consultation
   with the Cabinet Member for Finance, to determine and approve any additional material that may be needed to support the presentation of the interim budget proposals for consultation.

7. Consultation responses be sought by 30^th January 2014.

In the absence of the Cabinet Member Housing and Safety the Cabinet Member Finance paid tribute to his hard work on the housing portfolio and to the good work of Cheltenham Borough Homes.

He reported that rents were set to rise by 4 % and explained that this was set according to a government formula to ensure rents were slightly above inflation. CBH was outperforming its budget predictions and was proposing a £7.7 million extensive programme of improvements. Investment was also being made in disabled adaptations and work, which was beyond the remit of CBH, was ongoing on improving the lives of tenants in terms of benefits and money advice, employment services and working with the vulnerable and the elderly.

The Finance Director of CBH added that this was a positive budget with investment proposed in improving existing stock, PV windows and investment in new build. With a £4 million reserve, £2.5 million would be earmarked for future new build.

The Leader of the Council congratulated CBH on its positive role in managing the council’s housing stock.

RESOLVED THAT

1. The revised HRA budget for 2013/14 be noted.

2. The interim HRA budget proposals for 2014/15 be approved for consultation including a proposed average rent increase of 4.03% (applied in accordance with national rent restructuring guidelines) and increases in other rents and charges as detailed at Appendix 5.

3. The proposed HRA capital programme for 2014/15 be approved as shown at Appendix 3.

4. The creation of an earmarked revenue reserve be approved to finance future new build in the HRA. The value of funds to be transferred to this reserve to be considered by Cabinet as part of the review of HRA outturn for each accounting year.

5. Authority be delegated to the Cabinet Member for Finance, in consultation with the Director of Resources, to approve the acquisition of private interests within sites identified for future development subject to the availability of funds as described in paragraph 5.5.

6. Authority be delegated to the Director of Resources, in consultation
   with the Cabinet Member for Finance, to determine and approve any additional material that may be needed to support the presentation of the interim budget proposals for consultation.

7. Consultation responses be sought by 30^th January 2014.