Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Recommend draft HRA Budget 2020-21 and MTFS to Cabinet for approval
RESOLVED: That
(1) the proposed average weekly rent for non-sheltered and sheltered accommodation of £116.24 and £96.71 for 2020-21 respectively, as set out in paragraph 30 of the report, be approved;
(2) the proposed average weekly tenant service charge of £3.30 per week, as set out in paragraph 37 of the report, be approved;
(3) the proposed average weekly rents for affordable rented and shared ownership accommodation of £202.21 and £210.45 for 2020-21 respectively, as set out in paragraph 31 to 32 of the report, be approved.
(4) an increase in the overall Housing Revenue Account (HRA) Capital programme of £97,910,390 made up £15,779,160 planned investment and £82,131,230 Building Council Homes for Londoners (BCHfL) as, set out in paragraphs 52 to 63 of the report, be approved;
(5) proposed increases in Facilities and Community Halls charges of 5% and 4% respectively be approved and those for Garages and Water to remain unchanged, as set out in appendices 3 to 6 to the report;
(6) the following be noted:
· reconfigured planned investment programme which was designed to reflect the revised focus and priorities as well as supporting increased flexibility in its delivery;
· assumptions made in construction of the budget and likely changes to be made in the final budget to be submitted to Cabinet on 13 February 2020;
· Risk Management Implications which required prudent financial reserves, volatility around borrowing costs and ongoing probability of reforms in the housing sector.
Reason for Decision: To recommend the draft HRA budget and capital programme for 2020-21 and the MTFS for 2021-22 to 2022?23.
Alternative Options Considered and Rejected: As set out in the report.
Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted: None.
Report author: Dawn Calvert
Publication date: 10/01/2020
Date of decision: 09/01/2020
Decided at meeting: 09/01/2020 - Cabinet
Effective from: 18/01/2020
Accompanying Documents: