Purpose

To
approve the 2025/26 Draft HRA Budget and MTFP

Content

It was
RESOLVED: -
 
1.1        
That the HRA Budget proposals for 2025/26 set out
in this report, be endorsed for recommendation to Council on 26
February 2025.

 
1.2        
That a CPI + 1% increase of 2.7% for social
rents, equivalent to an average rent increase of £3.01 and
affordable rent of £4.21, a week be
implemented.
 
1.3        
That the RPI increase of 2.7% in garage rents,
equivalent to an average rent increase of £0.29 or
£0.36 (private rental), a month be
implemented.
 
1.4        
That an increase to the current charge for
sheltered housing service charges, equivalent to £10.03 a
month, be implemented.
 
1.5        
That an increase for sheltered housing utility
charges, equivalent to £5.91 a month, be
implemented.
 
1.6        
That the rent tolerance of 5% on Social Rent
properties be approved in line with guidance received from Trowers
& Hamlins.
 
1.7        
That in principle, Right to Buy (RTB) receipts
should be retained within the Housing Revenue Account, to enable
continued development and acquisition of new council
dwellings.
 
1.8        
That the Public Works Loan Board (PWLB) loan of
£6m will be refinanced in 2026/27. 
 
1.9        
That the balance of £96k in the Big 20
reserve and £20k in the Building Council Homes reserve be
transferred into strategic reserve.

 
1.10     
That the draft 30-year business plan (Appendix A)
be endorsed for recommendation to Council on 21 January
2025.

 
REASON FOR
DECISION
 
To
bring together all the relevant information to enable Cabinet
Members to review, consider and comment upon the Councils Housing
Revenue Account budget for recommendations to Council.
 
Alternative
Options Considered and Rejected:
 
The
HRA Budget for 2025/26 is an essential element in achieving a
balanced budget and sustainable medium-term position, therefore no
other options are appropriate in respect of this.
 
Any Declarations of Interests Declared: None
Any Dispensation Granted: None