The Financial Scrutiny meetings are a partnership between Housing and Financial services. The first meeting took place in June 2015 with an overview of the Housing Revenue Account (HRA). The aim of this meeting was to provide the tenant representatives with an understanding of the role of the HRA and how it must operate, to enable them to develop an understanding of all associated income and expenditure. This in turn would lead to the development of an agreed plan for further investigating all aspects associated with the financial management of the service.
The topics for future meetings were agreed during the initial session, and so far have covered:
- Overview of HRA and meeting framework
- Mortgage to Rent
- Principles of Housing budget and budget review
- Policy Voids
- Guidance on the operation of local authority Housing Revenue Accounts (HRAs) in Scotland (June 2016 meeting)
The aim of the Financial Scrutiny meetings is to provide means and opportunity for the Tenants Panel representatives to ensure that West Lothian tenants are receiving the maximum benefit from their rents and the best standard of service possible. It is recognised that there should be financial transparency so that tenants understand how their rent money is being spent.