Agenda item

(Copy herewith)

Councillor Bottwood submitted a report that sought the approval of the HRA 2015/16 budget and the HRA forecasts for 2016/17 to 2019/20, rent increases, services charges and other charges for 2015/16 and provided Members with an update on ongoing work on the direction of the NPH.

Councillor Mackintosh seconded the report.

There voted for the recommendations: Councillors Ansell, Ashraf, Aziz, Beardsworth, Begum, Bottwood, I Choudary, Conroy, Eales, Eldred, Ford, Glynane, Gowen, Hadland, Hallam, Hill, King, Lane, Larratt, Lynch, Mackintosh, Markham, Marriott, Mason, Mennell, Meredith, Nunn, Oldham, Parekh, Patel, Sargeant, Stone and Yates.

There abstained the Mayor.

The recommendations in the report were agreed:

RESOLVED:

2.1   That Council approved:

a)      An average rent increase of 2.2% per dwelling, in line with the Government’s national rent policy, to take effect from 6^th April 2015.

b)      The HRA budget for 2015/16 of £54.6m expenditure including options detailed in Appendix 1 and 2.

c)      The HRA capital programme for 2015/16, including future year commitments, and proposed financing as set out in Appendix 3.

d)      The proposed service charges listed in Appendix 4.

e)      That Cabinet be authorised, once the capital programme has been set, to approve new capital schemes and variations to existing schemes during 2015/16, subject to the funding being available and the schemes being in accordance with the objectives and priorities of the Council.

f)       The Total Fees proposed for NPH to deliver the services in scope for 2015/16 detailed in Appendix 5.

2.2      That the Council acknowledged the issues and risks detailed in the Chief Finance Officer’s report on the robustness of estimates and the adequacy of the reserves.

2.3      That the Council delegate authority  to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 23^th February 2015.

2.4      That the Council be recommended to confirm the reserves strategy of protecting balances wherever possible to allow the option of supporting future years’ budgets, aiming for a minimum level of unallocated Housing Revenue Account balances of at least £5m for 2015/16 having regard to the outcome of the financial risk assessment and remaining at this level over the medium term.

2.5      That Council be recommended to delegate authority to the Chief Executive and Chief Finance Officer to implement any retained HRA budget options and restructures.

2.6      That authority be delegated to the Chief Finance Officer in consultation with the Cabinet Member, and where appropriate the relevant Director and Cabinet Member to:

·         transfer monies to/from earmarked reserves should that become necessary during the financial year.

·         transfer monies to /from HRA working balances between the Council and NPH  for cash flow purposes should that become necessary during the financial year.

·         update prudential indicators in both the Prudential Indicators report and Treasury Strategy report, for Council for any budget changes that impact on these.