Agenda

Committee/Date

Subject

Recommendation

A

Cabinet

16 February 2022

HOUSING REVENUE ACCOUNT

As below:

Cabinet:

1.    Approved the forecast outturn for the Housing revenue Account budget;

2.    Approved an increase in rents for all HRA social rent formula and affordable rent dwellings by 4.1% as set out in paragraph 2.8 of the report;

3.    Approved an increase Garage rents by 4.1% as set out in paragraph 2.13 of the report;

4.    Approved an increase Sheltered Management and Amenity Charges by 4.1% as set out in paragraph 3.5 of the report;

5.    Noted that sheltered support and heating charges remain unchanged;

6.    Noted that Furnished Tenancy charges will remain unchanged; and

7.    Approved the Management Fee to o Six Town Housing for 2022/23 as set out in paragraph 1.5 of the report.

B

Cabinet

16 February 2022

·         The Council’s Budget 2022/23 and the Medium Term Financial Strategy2022/23- 2025/26 (Appendix 4 attached)

·         The Dedicated Schools Grant and setting the Schools Budget 2022-23

·         Capital Strategy and Capital programme 2022/23

·         Flexible use of Capital Receipts Strategy 2022/23

·         Treasury Management Strategy and Prudential Indicators 2022/23 

As below:

Cabinet:

1.    Approved the Medium Term Financial Strategy and the assumptions regarding resources and spending requirements;

2.    Noted the Council Tax base of the equivalent of 55,611 band D equivalent dwellings on which the Council Tax funding has been calculated;

3.    Approved the net revenue budget of £177.483m for 2022/23;

4.    Approved the increase in Council Tax of 1.94% and the inclusion of a 1% social care levy;

5.    Approved the recurrent changes to expenditure or reductions in income of £17.191m in 2022/23;

6.    Approved the budget reductions and additional income of £5.892m for the 2022/23 financial year;

7.    Approved the use of reserves of £14.355m in 2022/23;

8.    Approved the transfer of £0.683m into reserves with regards to the funding of social care reforms;

9.    Delegated authority to the Executive Director of Finance and the Chief Executive to agree the use of the social care reserve and the Children and Young Peoples Reserve established in 2021/22 in consultation with the Cabinet Member for Finance;

10.Approved the transfer of £2.996m into a smoothing reserve;

11.Approved the transfer of £1.388m into a Business Rates Risk;

12.Noted the forecast position on reserves as set out in section 6 of this report;

13.Noted the Departmental cash limits as set out at Appendix 5;

14.Noted the significant financial risks for funding, income and demand pressures in future years and for the continued impact of Covid-19 on the strategy; and

15.Recommends Council to approve and adopt the budget for 2022/23.