HRABP - Draft 8 - Flipbook - Page 47
Term
Definition
General Fund
The council’s financial account that deals with income and expenditure
relating to all the council’s services with the exception of Housing
Revenue Account services
Housing Register
A record of all applicants eligible/qualified to join under the Allocation
Scheme, who are requesting a tenancy of an SBC property and/or a
nomination to a tenancy of a local registered provider’s property and/or
a nomination for shared ownership of a registered provider’s property.
Housing Revenue
Account (HRA)
The council’s financial account that deals with income and expenditure
relating to the management and maintenance of the Council’s housing
stock.
Major Repairs Reserve This controls the application of the HRA depreciation charge. The MRR is
(MRR)
restricted to new capital investment in HRA assets or financing the HRA debt.
Registered Provider of Usually a housing association or a council that is registered with, and
regulated by, the Homes and Communities Agency and provides social
Social Housing (RP)
and affordable housing
Revenue Budget
Income/expenditure forecasts relating to the 'day to day' running of the HRA
Revenue contributions
to capital outlay
Rental or other income used to pay for capital expenditure.
(RCCO)
Right to Buy
A Government scheme that allows council tenants, who have held
tenancies for a certain period, to buy their own home from the council at
a discount, depending on how many years they have held their tenancies.
Self-financing (HRA)
A method of operating the HRA, whereby all the expenditure and costs
relating to the HRA are completely funded from the council’s rental
income, without the need for any Government subsidy.
Housing owned by local authorities and private registered providers
Social Rented Housing (usually housing associations),for which guideline rents are determined
through the national rent regime.
Spare Room Subsidy
A reduction in the benefit for working age people who rent from councils
or housing associations if their properties are considered to be too large
for their assessed needs.
Strategic Housing
Market Assessment
(SHMA)
An assessment of the nature and level of housing demand and need
within the district, providing a robust understanding of the local housing
market that can be used to inform policies and strategies
Universal Credit
Universal Credit is a new single payment for people who are looking for
work or on a low income that replaces housing benefit and five other
working-age benefits and is being phased in across the country
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