Issue - meetings

Report of the Cabinet Member Finance

RESOLVED THAT

1.    The revised HRA forecast for 2014/15 be noted

2.    The interim HRA budget proposals for 2015/16 be approved for consultation including a proposed rent increase of 2.2% and increases in other rents and charges as detailed at Appendix 5.

3.    The rent for all properties be converted to formula rent on re-letting.

4.    The proposed HRA capital programme for 2015/16 be approved as shown at Appendix 3.

5.    The transfer of £2m to an earmarked revenue reserve be approved to finance future new build in the HRA.

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 29th January 2015.

The Cabinet Member Finance introduced the report which summarised the Housing Revenue Account revised forecast for 2014/15 and the Cabinet’s interim budget proposals for 2015/16. He made the following points :

·         there had been an increase in the surplus for the year of £58k compared to the original estimate and this was despite an increase in repair and maintenance costs.

·         Expenditure of £4.5 million to enhance capital expenditure on existing stock

·         Investment of £6.7 million in property improvements and major works

·         £400 k invested in services for tenants including the vulnerable and those impacted by welfare reform

·         Healthy reserves of £2 million

·         £188k income had been generated from the feed in tariff due to the investment in solar panels.

He congratulated CBH on these achievements.

The Cabinet Member Finance reported that rents would be increased in accordance with the Government rent formula meaning a 2.2 % increase and would take affect when a property is re-let.

The Cabinet Member Housing added that tenant satisfaction was high. He made particular reference to the value placed on the additional services and support provided by CBH with regard to welfare reform. He paid tribute to the CBH new build programme and the significant investment in housing stock. CBH had undertaken its own consultation with tenants and these comments had been taken into consideration.

RESOLVED THAT

1.    The revised HRA forecast for 2014/15 be noted

2.    The interim HRA budget proposals for 2015/16 be approved for consultation including a proposed rent increase of 2.2% and increases in other rents and charges as detailed at Appendix 5.

3.    The rent for all properties be converted to formula rent on re-letting.

4.    The proposed HRA capital programme for 2015/16 be approved as shown at Appendix 3.

5.    The transfer of £2m to an earmarked revenue reserve be approved to finance future new build in the HRA.

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 29th January 2015.