Housing Revenue Account Budget Setting 2021/22
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Assistant Director (Corporate Services) introduced the report which presented the draft revenue and capital estimates for the Housing Revenue Account in 2021/22 and the following key points were highlighted:
- An income of 28m and expenditure of £29m.
- As per the Spending Review announcements on public sector pay in November, the budget reflected no inflationary increase for 2021/22 with the exception of those earning less than £24k per annum who would receive a pay increase of at least £250.
- A budget of £200k had been provided to support a planned review and restructure of housing services.
- Service charges had increased to a level capped at CPI +1 (1.5%) bringing the average service charge to £3.72 from £3.39.
- The Council would continue with the Housing Capital Programme set out in 2020-21 which had been severely impacted by the pandemic. The programme for the year was estimated at £20.8m with the focus being to maintain current housing stock and deliver on the new build and acquisitions programme.
The Director (Corporate Services) noted that the Housing Revenue Account was subject to pressures on income including the Government policy on rent reductions in previous years and changes in Right to Buy.
Resolved that the Cabinet recommends to Council that:
1. the draft Revenue estimates for 2021/22 together with the revised estimates for 2020/21 be approved;
2. the draft capital estimates together with the revised estimates for 2020/21 be approved, subject to detailed reports coming forward for new schemes, where applicable;
3. the increase in average rents of 1.5% for 2021/22 be noted; and
4. due consideration is given to the view of the Director (Corporate Services) (as S151 Officer) on the robustness of estimates for the coming year, the medium term financial strategy and the adequacy of proposed reserves and balances, as required under Section 25 of the Local Government Finance Act 2003.
Publication date: 01/02/2021
Date of decision: 01/02/2021
Decided at meeting: 01/02/2021 - Cabinet
- 1. HRA Estimates Report 2021-22 - Summary version PDF 98 KB
- 2. Appendix 2 - Housing Revenue Account Budget PDF 83 KB
- 2. Appendix2a DRAFT GBC Cabinet Budget Book Service View 21-22 PB HRA PDF 503 KB
- 3. Appendix 3 - Capital Programme PDF 88 KB
- 4. Appendix 4 - Working Balances PDF 71 KB
- 4. Appendix 4a Assessment of HRA Working Balance Level 2021-22 PDF 218 KB
- 4a. Reserves Policy 2020 PDF 335 KB
- 5. Appendix 5 HRA Business Plan - Revenue PDF 25 KB
- 6. Appendix 6 HRA Business Plan - Capital PDF 24 KB