Approve the Tower Hamlets Homes Management Fee 2017/18

Approve the Housing Revenue Account Draft Budget 2017/18

Approve 2017/18 housing capital estimates .

The Pre-Decision Scrutiny Questions and responses were noted.

DECISION

Revenue

1.            To approve the draft 2017/18 Housing Revenue Account budget as set out in Appendix 1 to the report.

2.            To approve the draft 2017/18 Management Fee payable to Tower Hamlets Homes (THH) of £31.946 million as set out in Table 4 at paragraph 10.8 of the report.

3.            To note that under the Management Agreement between the Council and THH, THH manages delegated income and expenditure budgets on behalf of the Council.  The principal delegated income budgets are for rental income and service charges, and the major item of delegated expenditure is repairs and maintenance.  In 2017/18, THH will manage delegated income budgets totalling £88.262 million, and delegated expenditure budgets of £24.066 million.

4.            To note the HRA Medium Term Financial Plan (2017/18 to 2021/22) outlined in Appendix 2 to the report.

Capital

1.            To adopt a capital estimate of £17.625 million in relation to works programmed for 2017/18 on Council housing stock, as outlined in paragraph 12.2 of the report.

2.            To note that the capital estimate of £17.265 million set out in 1. above includes a sum of £1 million to fund Overcrowding Reduction Initiatives as outlined in paragraph 12.3, £500,000 for the Aids and Adaptations programme, £1.5 million for the Capitalisation of Voids and £650,000 for the Capitalisation of Fees and Salaries as detailed in paragraph 12.4, as well as £500,000 as a contingency for urgent works as outlined in paragraph 12.5 of the report.

Action by:

CORPORATE DIRECTOR, PLACE (A. DALVI)

CORPORATE DIRECTOR, RESOURCES (Z. COOKE)

(Finance Business Partner (P. Leeson)

(Senior Accountant (K. Ball)