Decision details

To agree any changes in assumptions in the HRA financial forecasting and in spending levels for 2013/14, in the context of the wider HRA Business Plan.

Matter for Decision

The Housing Revenue Account Budget Setting Report, considered and approved in January / February of each year is the long-term strategic planning document for housing landlord services provided by Cambridge City Council. 

The Housing Revenue Account (HRA) Mid-Year Financial Review provides an opportunity to review the assumptions incorporated as part of the longer-term financial planning process, recommending any changes in response to new legislative requirements, variations in external economic factors and amendments to service delivery methods, allowing incorporation into budgets and financial forecasts at the earliest opportunity.

Decision of Executive Councillor for Housing:

The Executive Councillor resolved to:

     i.        Note the proposals for changes in housing capital budgets, as detailed in Sections 6 and 7, and summarised in Appendix F of the Officer’s report and to recommend the proposals for decision at Council on 24^th October 2013.

Reason for the Decision:

As set out in the Officer’s report.

Any Alternative Options Considered and Rejected:

Not applicable.

Scrutiny Considerations:

The Committee received a report from the Business Manager and Principal Accountant regarding the Housing Revenue Account Mid-Year Financial Review.

Members expressed concern that reductions to the disabled adaptations budget could result in a shortfall at the end of the financial period. Officers stated that the remaining budget was expected to meet demand.

In response to questions from Committee members the Business Manager and Principal Accountant clarified how the inflation predictions had been calculated (Consumer Price Index plus 2%). She suggested that making adjustments at this point in the year was part of good budget management.

The Committee resolved by 4 votes to 0 to endorse the recommendations.

The Executive Councillor approved the recommendation.

Conflicts of interest declared by the Executive Councillor (and any dispensations granted)

Not applicable.