Content

11.1

The
Director of Housing and Neighbourhood Services introduced the
report which set out the 2024/25 Housing Revenue Account (HRA)
Business Plan. Each year the HRA Business Plan is reviewed and
updated to set budgets and charges for the year ahead and to
provide an updated 5-year plan and 30-year affordability profile.
The purpose of this report is to provide the Housing Policy
Committee with an update on the current national and local housing
context, regulatory requirements, the priorities for Committee
action alongside capital and revenue spending plans for 2024/25.
The Policy Committee will then be responsible for overseeing the
scrutiny and, delivery of those plans on behalf of the Council
housing tenants of Sheffield.
 

11.2

RESOLVED
UNANIMOUSLY: That
the Housing Policy Committee:-

1.    
Notes that the HRA Business Plan report for 2024/25,
the HRA Business Plan priorities for 2023/24 and HRA Revenue Budget
2023/24 as set out in the Financial Appendix, will go to the
Strategy and Resources Policy Committee at its meeting in January
2024, for recommendation to Full Council for
approval;

2.    
Notes that once adopted by Full Council, monitoring
delivery of HRA Business Plan priorities will be within the remit
of Housing Policy Committee and a regular performance reporting
schedule will be approved;

3.    
Notes the recommendation for the increasing of
Council rents for 2024/25 in line with the Government’s Rent
Standard.

11.3

Reasons for
Decision

11.3.1

The
report and its recommendations, sets out the scale of the challenge
ahead, the limited resources available and the difficult decisions
that now need to be taken to deliver a balanced HRA budget for
2024/25 and for the overall 30-year viability. The delivery of a
balanced HRA budget is dependent on setting a 7.7% rent increase
for Council tenants as set out in this report.

11.4

Alternatives Considered and
Rejected

11.4.1

The
Council is required to both set a balanced in year HRA budget and
to ensure that in-year income and expenditure are balanced over 30
years. No other alternatives were considered.