Issue - meetings

Councillor Cathy Martyn, the Cabinet Member for Housing and Public Safety and the Corporate Director for Communities and Housing submitted a joint report setting out the Housing Revenue Account Medium Term Financial Plan “MTFP” over the next 30 years.

Councillor Martyn introduced the joint report setting out the Council’s context of managing over 10,000 homes while coping with central government both transferring a debt burden onto the Housing Revenue Account and requiring the Council to reduce rents in four consecutive years. Councillor advised Members to note the key points set out in the body of the report.

Councillor Jim Grant, Leader of the Opposition, asked questions about the Council’s proposed use of borrowing powers under the HRA given the lifting of the “cap” and any plans to build more council houses to address homelessness. Councillor Martyn along with the Deputy Leader of the Council and Vice-Chair of Cabinet responded at the meeting.

Resolved:

1)   That the Medium Term Financial Plan set out at Appendix 1 to the main report be endorsed.

2)   That it be noted that the plan will be updated annually to take into account Central Government policies that have an impact of the Housing Revenue Account as well as the Council’s annual budget setting process.

The reasons for the decision and alternative options are as set out in the report to the meeting.