Decision details

The Chair commented that overall this was a positive report with a forecast to reach the Committee’s savings targets, although there were a number of challenges.  Many of these were external and related to the economy which were leading to additional risks around temporary accommodation.  Officers were working to manage this as there had already been a slight increase in the number in temporary accommodation.

Members queried whether the impact of various changes had led to a net loss of accommodation and the impact of changes to the cost of borrowing. Officers responded that there was an increased in costs as well as an increase in demand that were causing the pressures.  The Chair noted that the financing issue would have been impacting private investors as well.

RESOLVED unanimously that the Housing and Growth Committee noted:

1.         the current forecast financial outturn for 2022/23.

2.         the projected use of reserves.