Content

It
was RESOLVED: -
 
1.1         
That the HRA Budget proposals for
2024/25 set out in this report, be endorsed for recommendation to
Council on 20 February 2024.
 
1.2         
That a CPI
+ 1% increase of 7.7% for social rents, equivalent to an average
rent increase of £7.92 and a RPI + 0.5% (9.4%) increase for
affordable rent of £11.13, a week be
implemented.
 
1.3         
That the
RPI increase of 8.9% in garage rents, equivalent to an average rent
increase of £3.83 or £4.71 (private rental), a month be
implemented.
 
1.4         
That an
increase of for sheltered housing service charges, equivalent to
£49.12 a month, be implemented.
 
1.5         
That an
increase for sheltered housing utility charges, equivalent to
£28.95 a month, be implemented, following no utility increase
for 3 years (from 2019/20).
 
1.6         
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.
 
1.7         
That it is recommended that the
£6m PWLB loan due to be repaid in 2024/25 is repaid rather
than refinancing at a higher interest rate.
 
1.8         
That the Revenue Contribution to Capital be
increased from £4.48m to £5.572m
 
 
REASON FOR
DECISION
 
To
bring together all the relevant information to enable Cabinet
Members to
review, consider and comment upon the Council’s General
Fund budget for
endorsement and recommendation to Council
 
Alternative
Options Considered and Rejected:
 
Setting a balanced budget is a statutory requirement: the budget
figures presented in this report currently show a gap between
forecast expenditure and income which needs to be resolved. Options
for balancing the budget will be tabled at Cabinet for its
consideration.
 
Any Declarations of Interests Declared: None
 
Any Dispensation Granted: None