99 Reform of the Housing Revenue Account Subsidy System. PDF 51 KB
Minutes:
The Cabinet Member for Communities & Housing submitted a report which set out the planned reform of the Housing Revenue Account Subsidy System
(HRAS) in Wales, the implications for the Council and the key actions required by the Council to implement the changes.
CABINET DECISION
That:
1) The Council enter into the Voluntary Agreement to exit the Housing Revenue Account Subsidy system along the lines set out in this report and to undertake sufficient borrowing to meet its share of the settlement.
2) Authority be delegated to the Director of Place and the Head of Finance to enter into the Voluntary Agreement and to determine the accounting and debt management policy of legacy and additional borrowing.
Policy Framework
Local Housing Strategy
Reason for Decision
To ensure all necessary preparations and key decisions have been made to implement the changes.
Consultation
Legal, Finance and Access to Services