Agenda item

*RESOLVED –

That it be recommended to Full Council that:

1.    The probable outturn for the current financial year be noted.

2.    The draft estimates for 2020/21 and future years be approved.

REASON FOR DECISIONS

1.    To enable the council to set the HRA budget for 2020/21.

2.    To continue with the financial strategy contained in the Housing Revenue Account Business Plan and self-financing debt settlement arrangements.

The Acting Chief Finance Officer and Assistant Director - Housing submitted a report presenting the probable outturn on the Housing Revenue Account (HRA) for 2019/20, and the budget estimates for 2020/21 through to 2024/25.

The Council is required to produce a 30 year HRA Business Plan that is financially viable and which maintains the Council’s housing stock at least at the minimum Decent Homes Standard.

The probable outturn for the HRA in 2019/20 was reported in section 5 of the officer’s report.

The financial strategy for the HRA is to deliver a balanced and sustainable budget which is self-financing in the longer term and reflects both the requirements of tenants and the strategic vision and priorities of the Council. The initial budget forecast for 2020/21 was detailed in section 7 of the officer’s report.

*RESOLVED –

That it be recommended to Full Council that:

1.   The probable outturn for the current financial year be noted.

2.   The draft estimates for 2020/21 and future years be approved.

REASON FOR DECISIONS

1.   To enable the council to set the HRA budget for 2020/21.

2.   To continue with the financial strategy contained in the Housing Revenue Account Business Plan and self-financing debt settlement arrangements.