DECISION

  Revenue

1.            To approve the draft 2015/16 Housing Revenue Account budget as set out in Appendix 1.

2.            To approve the draft 2015/16 Management Fee payable to Tower Hamlets Homes (THH) of £35.116 million as set out in Table 3 in section 7.

3.            Subject to 2 above, to note that under the Management Agreement between the Council and THH, THH will manage delegated income budgets of £89.818 million and delegated expenditure budgets of £24.345 million on behalf of the Council in 2015/16.

4.            To note the HRA Medium Term Financial Plan (2015-18) outlined in Appendix 2.

Capital

5.            To adopt a capital estimate of £1 million to fund Overcrowding Reduction Initiatives as outlined in paragraph 10.3.

6.            To adopt capital estimates for the Aids and Adaptations programme (£750,000), the Capitalisation of Voids (£1.5 million) and the Capitalisation of Fees and Salaries (£650,000) as outlined in paragraph 10.4.

7.            To adopt a capital estimate of £250,000 in order to maintain a contingency for urgent works of £1 million, as outlined in paragraph 10.5.

8.            To adopt an increased capital estimate for Ashington East new build scheme of £2.450 million, as detailed in 10.7 and 10.8.

9.            To adopt a capital estimate of £813,000 for the award of Disabled Facilities Grants, as outlined in paragraph 11.1. 

10.         To adopt a capital estimate of £550,000 in respect of Private Sector Improvement Grants, including Empty Property Grants, for 2015/16, to be financed from ring-fenced resources received from the East London Renewal Partnership (paragraph 11.2).

11.         To adopt capital estimates for the various S106 schemes outlined in section 12.

12.         To note that £33 million of resources have been included within the capital programme (Appendix 4) to reflect the necessity to deliver new housing supply in order to spend the currently unallocated 1-4-1 receipts of £14.5 million, as detailed in para 6.17.

Action by:

CORPORATE DIRECTOR, DEVELOPMENT AND RENEWAL (A. DALVI)

(Service Head, Strategy, Regeneration and Sustainability (J. Odunoye)

(Finance Business Partner (P. Leeson)

(Senior Accountant (K. Ball)

Councillor Alibor Choudhury, Cabinet Member for Resources, introduced the report taking this report and Agenda Items 10.2 (Treasury Management Strategy, Minimum Revenue Provision Policy Statement and Annual Investment Strategy 2015/16) and 10.3 (General Fund Capital and Revenue Budget and Medium Term Financial Plan) together. The following debate considered all three items and is presented below.

He reported that all three reports were follow up reports from those considered by Cabinet on 7 January 2015. He stated that there had been no changes to the reports for Items 10.1 and 10.2 but that there were some changes to Item 10.3. In reference to the comments provided by the Overview and Scrutiny Committee, he confirmed that there had been a detailed discussion but that there continued to be areas of disagreement. He stated that the consultation process had not yet concluded and that they would consider all contributions.

Finally Councillor Alibor Choudhury stated that Agenda Item 16.1 (Multi-faith burial site) had a potential budget implication and that the recommendations for agenda item 10.3 should only be agreed subject to any changes required due to Item 16.1.

Councillor Ohid Ahmed, Cabinet Member for Community Safety, introduced a proposed amendment to the budget. He stated that, as the Administration, were proposing to appoint a Head of Paid Service as opposed to a Chief Executive, the Chief Executive salary line in the budget could be deleted and the saving used to employ additional police officers. He also highlighted the importance of police accountability to the Council in relation to any funded posts.

The Mayor thanked Members for their contributions and thanked officers for the work they had put into the reports. He highlighted that the proposals were designed to protect front line services and jobs. He agreed the proposed amendments to the recommendations for Agenda Item 10.3.

The Mayor agreed the recommendations (to Agenda Item 10.1) as set out in the report.

RESOLVED

  Revenue

1.            To approve the draft 2015/16 Housing Revenue Account budget as set out in Appendix 1.

2.            To approve the draft 2015/16 Management Fee payable to Tower Hamlets Homes (THH) of £35.116 million as set out in Table 3 in section 7.

3.            Subject to 2 above, to note that under the Management Agreement between the Council and THH, THH will manage delegated income budgets of £89.818 million and delegated expenditure budgets of £24.345 million on behalf of the Council in 2015/16.

4.            To note the HRA Medium Term Financial Plan (2015-18) outlined in Appendix 2.

Capital

5.            To adopt a capital estimate of £1 million to fund Overcrowding Reduction Initiatives as outlined in paragraph 10.3.

6.            To adopt capital estimates for the Aids and Adaptations programme (£750,000), the Capitalisation of Voids (£1.5 million) and the Capitalisation of Fees and Salaries (£650,000) as outlined in paragraph 10.4.

7.            To adopt a capital estimate of £250,000 in order to maintain a contingency for urgent works of £1 million, as outlined in paragraph 10.5.

8.            To adopt an increased capital estimate for Ashington East new build scheme of £2.450 million, as detailed in 10.7 and 10.8.

9.            To adopt a capital estimate of £813,000 for the award of Disabled Facilities Grants, as outlined in paragraph 11.1. 

10.         To adopt a capital estimate of £550,000 in respect of Private Sector Improvement Grants, including Empty Property Grants, for 2015/16, to be financed from ring-fenced resources received from the East London Renewal Partnership (paragraph 11.2).

11.         To adopt capital estimates for the various S106 schemes outlined in section 12.

12.         To note that £33 million of resources have been included within the capital programme (Appendix 4) to reflect the necessity to deliver new housing supply in order to spend the currently unallocated 1-4-1 receipts of £14.5 million, as detailed in para 6.17.