Issue - meetings

As detailed in the recommendations.

The Cabinet Member for Housing introduced the budget proposals for the Housing Revenue Account (HRA) and Capital Programme for the 2014/15 financial year.

The Cabinet Member for Housing explained that 2014/15 was anticipated to be the final year under the current rent and subsidy system in Wales.  The proposed guideline weekly rent increase for Flintshire was £3.29 per week and the proposed garage rent increase for Flintshire was £0.25 per week.  Outlined within the appendices to the report were the key areas of expenditure and details of proposed savings and efficiencies.  Overall the budget provided £0.536m of additional investment in services and £0.789m of additional funding for the capital programme.  The budget proposals were based on the draft determinations from the Welsh Government (WG) and the final budget would be adjusted to reflect the final determination received.

            The Chief Executive provided details of the robust business plan the Council had in place to meet the Welsh Housing Quality Standard (WHQS) by the target of 2020.  He commented on the current funding shortfall projected in the business plan and reported that this could potentially be met by prudential borrowing if the gap was not closed over the next three years from savings anticipated as a result of the rent reform.   

            The Cabinet Member for Housing thanked officers for the work undertaken to reduce the funding shortfall by £6.816m from the amount initially submitted to the WG in the Council’s business plan.

RESOLVED:

(a)       That Cabinet approve and recommend to Council:-

                    i.            The proposed HRA budget for 2014/15 as set out in Appendix 1 of the report, incorporating the financial assumptions in Appendix 2 of the report and the service Improvements and Efficiencies in Appendix 3 of the report.

                  ii.            The level of rent and service charges for 2014/15 as set out in paragraphs 3.01 to 3.07 of the report.

                iii.            The level of projected balances at 31^st March 2015 at 3.20% of total expenditure.

                 iv.            The proposed HRA Capital Programme as set out in Appendix 4 of the report. 

(b)       That the impact of the proposed revenue budget and capital programme on the 30 year Business Plan be noted.