Decision details

The Executive considered a report updating Members on the draft proposals on the Housing Revenue Account (HRA) budgets and rent setting for 2019/20, to be considered by the Council on 30 January 2019; proposing the HRA rents and service charges for 2019/20; and incorporating the options, fees and charges included in the Financial Security report agreed by the Executive at its November 2018 meeting, together with any revised income and expenditure assumptions identified since that report.

It was RESOLVED:

1.         That the HRA dwelling rents not subject to the 1% rent reduction (currently Low Start Shared Ownership – LSSOs) be increased, from the week commencing 1 April 2019, by 3.4% i.e. £3.86 per week, which has been calculated using the existing rent formula CPI + 1%, in line with the Rent and Service Charge Policy approved at the January 2018 Council meeting.

2.         That it be noted that the HRA dwelling rents (other than those outlined in Resolution 1. above) are subject to the 1% rent reduction from the week commencing 1 April 2019, or £0.96 or £1.60 per week for social and affordable rents respectively, as outlined in the Government’s Welfare and Reform Act 2016.

3.         That the draft HRA budget be approved, as set out in Appendix A to the report.  This may be subject to change as a result of consultation and the finalisation of recharges from the General Fund.

4.         That the final HRA rent setting budget for 2019/20 be presented to the Executive on 23 January 2019 and then the Council on 30 January 2019.

5.         That key partners and other stakeholders be consulted and their views fed back into the 2019/20 budget setting process.

Reason for Decision: As contained in report.

Other Options considered: As contained in report.