The report has been circulated with the Cabinet Agenda for its meeting on 18th January 2018. The relevant Minute and report has been referred direct to the Scrutiny Committee for consideration.

The Committee considered Minute 646 of Cabinet held on 18^th January 2018, which had been referred direct to the Scrutiny Committee together with a joint report of the Deputy Chief Executive (People) and the Director of Finance and Resources setting out the Housing Revenue Account (HRA) budget for 2018/19 together with the information necessary to set a balanced budget as required by legislation.

Resolved:-

That the following decisions of Cabinet be noted:

Note:- This is an Executive Function save that approval of the final budget following Cabinet on 13^th February 2018 is a Council Function.

Executive Councillor:- Flewitt

Report of Deputy Chief Executive (People) and the Director of Finance and Resources

The Cabinet considered a joint report of the Deputy Chief Executive (People) and the Director of Finance and Resources setting out the Housing Revenue Account (HRA) budget for 2018/19 together with the information necessary to set a balanced budget as required by legislation.

Resolved:-

1.  That a rent reduction of 1% on secure tenancies, as required by the Welfare Reform and Work Act 2016, be endorsed.

2.  That an average rent increase of 6.04% on shared ownership properties, be endorsed.

3.  That the proposed rent changes in 1 and 2 above to be effective from 2 April 2018, be endorsed.

4.  That the increases in other charges as set out in section 5 of the submitted report, be endorsed.

5.  That the management fee and increases in service charges and heating charges proposed by South Essex Homes, as set out in section 6 of the report, be endorsed.

6.  That the appropriations to the Repairs Contract Pensions earmarked reserve and the HRA Capital Investment earmarked reserve, as set out in section 8 of the report, be endorsed.

7.  That subject to 1 - 6 above, the HRA budget as set out in Appendix 1 to the submitted report, be endorsed.

8.  That the value of the Council’s capital allowance for 2018/19 be declared as £23.197M, as determined in accordance with regulation 16 of the Local Authorities (Capital Finance and Accounting) (England) Regulations.

Reason for Decision

Part of the process of maintaining a balanced budget for the HRA is to consider and set a rent rise (and associated increases in other income streams). Full Council need to approve the HRA budget prior to the start of the financial year.

Other Options

As set out in the submitted report

Note:- This is an Executive Function save that approval of the final budget following Cabinet on 13^th February 2018 is a Council Function.

Referred direct to Policy and Resources Scrutiny Committee.

Executive Councillor:- Flewitt