Issue - meetings

As detailed in the recommendations.

Councillor Brown introduced the Draft Housing Revenue Account (HRA) Budget 2017/18 & Capital Programme 2017/18 report.

            The strategic context for the HRA budget setting included the following:

·         The need to ensure the treasury management strategy continued to meet the Council’s new and ongoing borrowing requirements;

·         Delivery of a prudent plan for income maximisation;

·         Setting a balanced budget with 3% surplus revenue over expenditure;

·         Continued drive to ensure all service costs were efficient and that value for money could be achieved;

·         Maximisation of revenue efficiencies to minimise the borrowing required to meet WHQS by 2020; and

·         Delivery of new build Council housing.

            RESOLVED:

(a)       That the HRA budget for 2017/18 as set out in the Business Plan be approved and recommended to County Council;

(b)       That a rent increase of 2.5% (plus up to or minus £2) as set out in the Business Plan with target rents applied for new tenancies be approved;

(c)        That a garage rent increase of £1 per week and a garage plot rent increase of £0.20per week be approved and recommended to County Council; and

(d)       That the proposed HRA Capital Programme for 2017/18 be approved.