Purpose

To recommend the Housing Revenue Budget for
2025/26 to Council

Decision

1)         1) To
thank Tenants’ and Leaseholders’ Forum, Housing
Scrutiny Commission and others who have commented on our draft
Housing Revenue Account budget.
 
2)         I am
grateful for the recognition from consultees of the challenging
financial position the multiple budget pressures create.
 
To recommend to Council the following:
 
3)         Approve
the Housing Revenue and Capital budgets for 2025/26, as described
in the report submitted by the Director of Housing, including:
i)         
Approve rent changes for tenants for 2025/26 as follows:
-          
2.7% increase to core rent;
-          
2.7% increase to garage rent.
-          
2.7% increase for Hostel rent and service charges;
-          
4% increase for Gypsy and Traveller plot rent;
ii)         Approve
service charge changes for tenants and leaseholders for 2025/26 as
follows:
-          
A reduction in the charges for District Heating as set out in
section 4.6.3 of the report, including a 25% reduction in the
variable charge for metered heat, a 20% reduction in the fixed
metered charges, and a 26% reduction for those without meters;
-          
reducing the charge for waylighting by
9.1%;
-          
applying increases to all other service charges of 1.7%, in line
with CPI.
iii)        Agree to
delegate to the City Mayor the authority to reduce service charges
by the extent to which this represents a change to the cost of
providing those services.
iv)        Note the
equality impact assessment of the proposed revenue and capital
reductions required to present a balanced budget, at Appendix
J;
v)         Note
that the scheme of virement (included within the General Fund
Revenue Budget report which is also on your agenda) applies also to
the HRA budget with total expenditure and total income acting as
budget ceilings for this purpose;
vi)        Agree that the
delegations and determinations applicable to the main capital
programme (which is also on your agenda) shall also apply to the
capital programme in the Director of Housing’s report;
vii)       Note that the
capital strategy in the main capital programme report also applies
to the HRA.