Purpose

To
approve the 2025/26 HRA budget and HRA 30 Year Business
Plan.

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 27
February 2025.
 

1.2
That a CPI + 1% increase of 2.7% for social
rents, equivalent to an average rent increase of £2.78 for
social rent and affordable rent of £4.05, 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, a month be
implemented.
 

1.4
That sheltered housing service charges and
utility charges are capped at 10% overall. Equivalent to
£2.92 a week increased service charge, and £0.47 a week
increased utility charge be implemented.
 

1.5
That a new service charge for General Needs be
implemented of an average £6.41 per week, per tenancy in a
block.
 

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 balance of £20k in the Building
Council Homes reserve be transferred into strategic
reserve.
 
 
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 Housing Revenue
Account 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