Decision details

To consider the report of the Cabinet Member for Housing and Leisure Services seeking approval for the Housing Revenue Account budget proposals and long term business plan to be recommended to the budget setting Council meeting on 13 February 2013 including:

-  the proposed 2013/14 Housing Revenue Account (HRA) estimates for all of the day to day services provided to Council tenants in the city, together with proposed rent, service and other charges levels for 2013/14,

-  the HRA capital programme for the period to 2017/18, which updates the programme approved by Council on 12 September 2012; and

-  the 30 year long term HRA business plan covering capital and revenue projections under the HRA self-financing system.

(i)  To consider the report and agree that the recommendations, as set out below, be made to Council at the meeting on 13 February 2013.

(ii)  To approve, in accordance with Financial Procedure Rules, capital spending of £1,000,000 in 2012/13 on a contribution to major investment works at Rotterdam Towers, subject to Council agreement to add a scheme of this value to the Safe, Wind and Weather Tight section of the HRA Capital Programme.

(iii)  To approve, in accordance with Financial Procedure Rules, a transfer, within the Estate Regeneration section of the HRA Capital Programme, of £1,325,000 from the Estate Wide scheme to create a Weston Enabling Works scheme, phased £700,000 in 2013/14, £375,000 in 2014/15 and £250,000 in 2015/16.

1. The Council’s Constitution sets out the process to be followed in preparing the Council’s budget. This process includes a requirement for the Executive to formally submit their budget proposals for the forthcoming year to Council.  The budget proposals in this report cover the HRA revenue budget and capital programme.
2. The introduction of the new self-financing regime for HRA finances in April 2012 brought with it a requirement for long term business planning.  This report also sets out in financial terms the HRA business plan for the next 30 years.

The proposals in this report follow the principles established in the report approved by Council in November 2011 and are consistent with the views of tenant representatives expressed at various meetings during the preparations for HRA self-financing.  Alternative options are not therefore supported.