This report has an appendix which contains information exempt within the meaning of Schedule 12A to the Local Government Act 1972 and are not for publication. The appendix has therefore been circulated to Cabinet Members only.
Any discussions on the contents of an exempt appendix will require Cabinet to pass the proposed resolution identified at the end of the agenda to exclude members of the public and the press from the proceedings for that discussion.
That Cabinet agrees:
1. To approve the Housing Revenue Account 2020/21 budget for Council homes as set out in Table 1.
2. To approve the 40-year Financial Plan for Council Homes for 2020/21 to 2058/59 as set out in section 5 of this report.
3. To approve a transfer of £17.2m from Housing Revenue Account earmarked reserves to general reserves as part of a reallocation of HRA resources following an assessment of the balance of earmarked reserves required and the financial pressures facing the HRA.
4. To approve the long-term HRA Financial Plan which includes plans to deliver on-going annual revenue savings of £0.5million per annum from 2020/21 rising to £4.0million per annum from 2023/24 (see Appendix 1).
5. To help fund the 40-year Financial Plan, including investment in better repairs and new homes, approve a rent increase of 2.7% (based on the Consumer Prices Index at September 2019 plus 1% in line with government policy) from April 6th, 2020 which equates to an average weekly increase of £2.90 in 2020/21.
6. To approve an increase to shared ownership rents of 2.7% (based on the Consumer Prices Index at September 2019 plus 1% in line with government policy) from April 6th, 2020.
7. To approve an increase in tenant service charges of CPI (1.7% as at September 2019) from April 6th, 2020.
8. To approve an increase to the management fee for temporary on licence properties of CPI (1.7% as at September 2019) from April 6th, 2020.
9. To delegate authority to the Strategic Director for The Economy in conjunction with the Cabinet Member for Housing to agree the average increase in water charges.
10.To approve a freeze in the communal heating charges.
11.To increase garage charges by CPI (1.7% as at August 2019).
12.To note that any change to parking charges on housing estates will be considered in a separate report on the Council’s parking plans.
13.To approve an increase in the Leasehold After Sale – Home Buy Fees from £155 to £160.
 This includes general needs, sheltered and hostels properties.