The Housing Revenue Account Self-financing Determinations

Published	1 February 2012
Type(s)	Reports and summaries
Site	Housing
ISBN	9781409833277
Price	Free

Summary

Under section 173 of the Localism Act 2011, the Secretary of State is required to consult representatives of local government and each affected local authority before making determinations to implement self-financing for council housing.

This consultation was published on 21 November 2011, and also included amendments to the 2011-12 Housing Revenue Account Subsidy Determination and amendments to the 2011-12 Item 8 Determinations, and the Item 8 Determinations which will apply from April 2012.

We received 57 responses to the consultation, and a summary of issues raised by consultees is available below in 'related publications'.

We have also now published the final five determinations:

The Settlement Payments Determination. This sets out the amount each local authority will either pay the Government or receive from the Government on 28 March 2012 in order to exit the current subsidy system, and the way in which the payments will be made.
The Limit on Indebtedness Determination. This places a cap on the amount of housing debt each council may hold.
The Housing Revenue Account Subsidy Amendment Determination for the year 2011-12. This adjusts the subsidy entitlement for this financial year in order to take account of the interest costs or savings arising from the settlement payments. These payments will be made before the end of the financial year.
The Item 8 Credit and Debt Amendment Determination for the year 2011-12. This enables the appropriate charges to be made between the Housing Revenue Account and a council's General Fund to reflect the borrowing costs or savings in this financial year arising from the settlement payments.
The Item 8 Credit and debit Determinations for 2012 onwards. This provides a framework for the Housing Revenue Account ring-fence to continue to operate under self-financing.

Alongside the final determinations, we are publishing the final spreadsheet models which have been used to calculate the self-financing valuations, settlement payments and debt limits set out in the determinations.

Order

This publication is only available online - see below to download.

Download

The Housing Revenue Account Self-financing Determinations
PDF , 285 kb , 54 pages
Letter to Local Housing Authorities - Determinations to implement self-financing for council housing
PDF , 66 kb , 2 pages
Note to local authorities due to make a self-financing payment on 28 March 2012
PDF , 48 kb , 5 pages
Commentary on the calculations used in the Self-financing Model
PDF , 68 kb , 13 pages
The Self-financing Model
MS Excel , 6887 kb
Commentary on the calculations used in the Baseline Model
PDF , 67 kb , 16 pages
The Baseline Model
MS Excel , 724 kb

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