Issue - meetings

1.1.                That the Long Term 40 Year Financial Plan for Council Homes as set out in section 8 of this report, be endorsed.

1.2.                That the Housing Revenue Account 2015/16 budget for Council Homes as set out in Appendix 1, be approved.

1.3.                That the proposed new Council Homes Rent Policy for increases from 2015/16 onwards of Consumer Price Index (CPI)^[1]+1% plus an additional £1 per week for tenants not yet paying target / formula rent, be endorsed.

1.4.                That the proposed new policy to increase tenant service charges by CPI^[2]only for 2015/16 onwards in line with the increases in the majority of associated contracts, be endorsed.

1.5.                That an average rent and service charge increase for 2015/16 for Council Tenants based on application of the new Council Homes Rent Policy and new service charge increase policy of 2.89% as set out in section 10 of this report, be approved.

1.6.                That an average rent and service charge increase of 2.74% based on application of the Government’s rent restructuring formulae for properties under licence and hostels as referred to in paragraph 10.9, be approved.

1.7.                That the HRA Medium Term Financial Strategy which plans to deliver further on-going annual revenue savings of £2.2million per annum by 2015/16, rising to £4.8million per annum by 2021/22, with savings coming principally from back office costs, be endorsed.

1.8.                That £13.0m of Housing debt is due to mature in 2015/16 and to approve the refinancing of £11.5m of this debt during 2015/16, in order to both meet the investment in repairs and improvements to Council Homes, and to balance the gap in the financial plan that is a result of stopping selling empty Council Homes, be noted.

1.9.                To note that the water regulator OFWAT is not due to confirm the increase in tenants’ water charges until January 2015, and therefore to delegate authority to the Executive Director of Housing and Regeneration to agree the average increase in water charges as set out in section 14.

1.10.              That approval be given to freeze the communal heating charge at 2014/15 rates as set out in section 14 of the report.

1.11.              That a freeze in parking charges as set out in section 14 of the report, be approved.

1.12.              That approval be given to freeze in garage charges as set out in section 14 of the report.

1.13.              That the risks outlined in section 11 of this report, be noted..