The report before Members considered the Medium Term Housing Revenue Account (HRA) budget.

The report included results of the tenant consultation, the consideration of the Housing and Health Committee and the recommendation of the Finance and Resource Committee concerning the proposed level of rent increase for 2015/16.

Cllr Carter MOVED and Cllr Mrs Davies SECONDED the recommendations within the report and officers and Tenants Talkback were thanked for their assistance and support in preparation of the Medium Term HRA Budget.

Following a discussion, a vote was taken on a show of hands and it was RESOLVED:

1.            That the Council approves a level of rent increase for 2015/16 based on the Government formula of CPI + 1% per week, for all rents as detailed in the report.

2.            That the Council agrees to freeze the proposed Service Charges for 2015/16 for tenants, however any decrease to service charges, will be passed onto the tenant.

3.            That the Council agrees that Leaseholder Service Charges be calculated in line with the current reconciliation policy.

4.            That the Council agrees to applying the formula rent to all new tenancies from April 2015/16.

5.            To approve the Section 151 Officer’s Assurance Statement on the robustness of the estimates and adequacy of the reserves.

REASON FOR DECISION

1.     Effective financial management underpinned all of the priorities for the Council.

2.    The Council was required to compile a budget which collated all the income and expenditure relating to the Council’s housing stock.  The Council was also required to agree the rent levels and notify tenants of any increases.