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38 Housing Revenue Account Mid-Year Financial Review PDF 100 KB
Additional documents:
Minutes:
Matter for Decision
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
Following scrutiny and debate
at Housing Management Board:
i.
Approved the
Housing Revenue Account Mid-Year Financial Review attached, to include all
proposals for changes in:
- Revenue budgets as detailed in Sections 4 and 5, and
summarised in Appendix E of the document.
- Financial assumptions as detailed in Appendix B of the
document.
Following scrutiny and debate
at Community Services Committee:
ii
To consider
proposals for changes in housing capital budgets, as detailed in Sections 6 and
7 of the document, and summarised in Appendix F of the document, recommending
the proposals for decision at Council on 24th
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 / Principal Accountant
The Committee made the following comments in response to the report:
(i)
Sought clarification on how the inflation
predications had been calculated.
(ii)
Queried how the money from ‘Right to Buy’ sales
would be spent.
(iii)
Questioned how the impact to the changes in
policies to the ‘Right to Buy’ scheme had impacted in the financial planning
process and if those changes had been under estimated.
(iv)
Questioned who would pick up the risk should the
Government proposals to stop target rents take effect.
(v)
Acknowledged that there could be fewer estimated
stock numbers of one bedroom houses available in the new financial year as the
demand to downsize increases.
The Committee:
Resolved by 9 votes to 0 to
endorse the recommendations.
The Executive Councillor approved the recommendations.
Conflicts of Interest
Declared by the Executive Councillor (and any
Dispensations Granted)
No conflicts of interest
were declared by the Executive Councillor.