Decision details

To recommend HRA Budget 2020-21 and MTFS to Council for approval

Resolved to RECOMMEND:  (to Council)

That

(1)          the Housing Revenue Account Budget for 2020-21 be approved;

(2)          the Housing Revenue Account Capital Programme, as set out at Appendix 7 to the report, be approved.

[Call-in does not apply to the decision above as it was reserved to full Council.]

RESOLVED:  That

(3)          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, be approved;

(4)          proposed average weekly tenant service charge of £3.30 per week as set out in paragraph 37, be approved;

(5)          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, be approved;

(6)          an increase in the overall HRA Capital programme of £103,377,380 made up £19,400,000 planned investment and £83,977,380 Building Council Homes for Londoners (BCHfL) as set out in paragraphs 52 to 62, be approved;

(7)          proposed increases in Facilities and Community Halls charges of 5% and 4% respectively, and those for Garages and Water to remain unchanged as set out in appendices 3 to 6, be approved;

(8)          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;

·           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 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.