Issue - meetings

Arising from a report of Deputy Chief Executive (S151), the Homes Policy Development Group has recommended the Housing Revenue Account Medium Term Financial Plan be approved.

Arising from a *report of Deputy Chief Executive (S151), the Homes Policy Development Group had recommended the Housing Revenue Account Medium Term Financial Plan be approved.

The Cabinet Member for Finance outlined the contents of the report stating the report had received universal support from the Homes Policy Development Group as there was a need to demonstrate a balanced budget and the need to determine a reasonable forecast of the financial position of the Housing Revenue Account for the coming years.

Consideration was given to the impact of Universal Credit within the district and countrywide with the Deputy Chief Executive suggesting that there did not seem to be much impact at the current time with under a 1% margin on arrears being recorded but that a watching brief continued to take place.

RESOLVED that the recommendations of the Policy Development Group be approved.

(Proposed by Cllr A White and seconded by Cllr S J Clist)

Note:  * Report previously circulated, copy attached to minutes.

To receive a report from the Deputy Chief Executive (S151) and Director of Operations considering the options available in order for the Council to set a balanced budget for 2020/21.

The Group had before it, and NOTED, a report * from the Deputy Chief Executive (S151) and Director of Operations considering the options available in order for the Council to set a balanced HRA budget for 2020/21.

The contents of the report were outlined with particular reference to the following:

·         The report presented a proposed balanced budget for the HRA for 2020/21 and showed the over-all make-up of the budget at summary level as well as an extract from the planned and cyclical maintenance budget. It also showed the rental forecast figures for 2020/21, proposed garage rents and garage ground rents for 2020/21.

·         Key issues related to Right to Buy Property Sales and Rent changes.

·         Any surplus or deficit would be transferred to the maintenance fund

A brief discussion took place with regard to the effect of ‘Right to Buy’ on the council’s finances.

Note: * Report previously circulated; copy attached to the signed minutes.