To approve the Tower Hamlets Homes Management Fee 2016/17

To approve the Housing Revenue Account Draft Budget 2016/17

To approve 2016/17 housing capital estimates.

The report will be presented at Cabinet on 5 January for comment before returning on 2 February for agreement.

An updated report was tabled.

DECISION

1.    To note that, under section 21 of the Welfare Reform and Work Bill (which is at Committee Stage in the House of Lords), the Authority must implement a rent reduction of 1% for each of the next four years, starting in 2016/17, and consequently to agree an average weekly rent reduction of 1% to take effect from the first rent week of April 2016.

2.    To agree that the element of the rental charge that relates to communal electricity will be removed from the rent (de-pooled) and will be added to the tenanted service charge. 

3.    To agree that the average weekly tenanted service charge will increase by £0.10 from the first rent week in April 2016, after applying the de-pooling adjustment of communal energy charges referred to in Recommendation 2.

4.    To note the risks to the Housing Revenue Account, (HRA) detailed in sections 6 to 8, and note that an updated medium-term financial strategy will be developed for the HRA in response to the various government policies that will have a substantial impact on the HRA.

5.    To note that the HRA budget will be presented to Cabinet in February 2016.

Action by:

CORPORATE DIRECTOR, DEVELOPMENT AND RENEWAL (A. DALVI)

(Service Head, Resources D&R (C. Holme)

(Finance Manager D&R (P. Leeson)

(Senior Accountant D&R (K. Ball)