Agenda item

(a)  That the Housing Revenue Account Budget for 2012/2013 be approved. (Paragraph  5.6 and appendix 1 refers)

(b)  That the growth items, identified in paragraphs 5.5 & 5.8 amounting to £245,000 for supervision and management and £950,000 for Repairs & maintenance be approved.

(c)  That the revised  medium term capital programme be approved (Paragraph 5.11)

(d)  That the medium term sustainability of the Housing Revenue Account Business Plan be noted.

The Assistant Direct of Housing Services outlined the Housing Revenue Account budget for 2012 – 2013.  Members were advised that the Localism Bill had received Royal Assent in November 2011 and included a new system of accounting for the Housing Revenue Account known as self financing.  This new system would result in the Council taking on an additional debt of £137million in March 2012.  Officers advised that the HRA had been revised to take into account this new structure.

Concerns were raised by Members regarding the maintenance of the Council’s housing stock, given the increase in discounts available under the Right to Buy scheme which had been announced earlier that day.

Resolved -

(a)  That the Housing Revenue Account Budget for 2012/2013 be approved. (Paragraph  5.6 of the report and appendix 1 refers)

(b)  That the growth items, identified in paragraphs 5.5 & 5.8 of the report amounting to £245,000 for supervision and management and £950,000 for Repairs & maintenance be approved.

(c)  That the revised  medium term capital programme be approved (Paragraph 5.11 of the report)

(d)  That the medium term sustainability of the Housing Revenue Account Business Plan be noted.