Agenda item

The officer report (attached as Item 12) on the Housing Revenue Account Final Budget Proposals 2020/2021 and Rent-Setting is to be considered by the Executive on 22 January 2020.  The Executive’s recommendations to Council will be circulated on a supplementary agenda.

Council considered a report, which updated Members on the final proposals on the Housing Revenue Account (HRA) budgets and rent-setting for 2020/2021.

Prior to the debate, the Chief Executive referred to the Supplementary Agenda (tabled), which set out the Executive’s recommendations to Council following consideration of this matter at its meeting held on 22 January 2020.

It was then moved by Councillor Jeannette Thomas, seconded by Councillor Mrs Joan Lloyd and RESOLVED:

1.      That HRA dwellings be increased, week commencing 1 April 2020, by 2.7% an average increase of £2.56 for social rents £4.17 for affordable rents and £3.16 for Low Start Shared Ownership homes per week. This has been calculated using the rent formula, CPI +1% in line with the Government’s rent policy as set out in Paragraph 4.1.1. of the report.

2.      That the rent policy update to reflect the rent increase guidance of CPI+1%, (revised from a minus 1% rent reduction excluding LSSO properties) agreed at the December 2020 Executive, be confirmed.

3.      That the 2020/21 HRA budget, as set out in Appendix A to the report be approved.

4.      That the revised 2019/20 HRA budget, as set out in Appendix A to the report, be approved.

5.      That the HRA Fees and Charges, as outlined in Appendix C to the report be approved.

6.      That the 2020/21 service charges be approved.

7.      That the minimum level of reserves for 2020/21, as shown in Appendix E to the report be approved.

8.      That the contingency sum of £250,000 within which the Executive can approve supplementary estimates, be approved for 2020/21 (unchanged from 2019/20).

9.      That the comments from the Overview and Scrutiny Committee, as set out in the report be noted.

10.   That officers write to the Secretary of State (MHCLG) to request that new build right to buy receipts that are projected to be returned in the last quarter of 2019/20 (estimated at £790,000) are not returned to the Government, but used to increase funding for the Council’s ambitious house building programme, such as Kenilworth or other pipeline programmes.