Agenda item

Report of the Chamberlain.

The Committee considered a Report of the Chamberlain concerning the Housing Revenue Account.

The Chamberlain introduced the Report and reminded Members that, in general, the HRA should be self-supporting and it cannot use other City Fund resources of the Corporation to fund revenue expenditure. Additionally, the HRA is not permitted to borrow to cover revenue expenditure and there is currently no national compensation package forthcoming for lost HRA income, although this was requested by the Local Government Association as a response to the local government settlement in 2020-21.

Following a detailed discussion, a number of concerns were raised about the risk of setting a precedent around the City using City’s Cash funds to support the HRA;   it was decided that further consideration was required and, therefore, Members agreed to provide the Town Clerk, in consultation with the Chairman and the Deputy Chairman of Finance Committee, delegated authority to approve the support for the HRA, once they were content with the proposal.

RESOLVED – that the Committee:

Agreed to provide the Town Clerk, in consultation with the Chairman and the Deputy Chairman of Finance Committee, delegated authority to approve the support for the HRA, once they were content with the proposal.