Issue - meetings

The Councillor Cathy Martyn, Cabinet Member Housing and Public Safety along with the Director of Housing submitted a joint report setting out the Housing Revenue Account Medium Term Financial Plan ‘MTFP’ over the next 30 years. Councillor Martyn drew Cabinet’s attention to the details in the report, in particular the £104m remaining debt, the impact of the government’s four-year rent reductions, the projected shortfall over five years for capital works and the borrowing requirement to fund the affordable development programme.

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

(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.