Purpose

Consider the Housing Revenue Account Budget for
2024/25

Content

Council agreed
to
 
Housing Revenue Account (HRA): Revenue
 

A)      
approve the HRA revenue budget for 2024/2025 as
shown in the HRA Budget Summary as presented at Appendix
A.
 
HRA:
Review of Rents and Charges
 

B)      
Approve that council dwelling rents for all social
rented properties be increased by 7.7%, recognising that inflation
measured by the Consumer Price Index (CPI) at September 2023, plus 1% results in an increase of
7.7%.
 

C)      
Approve that affordable rents (inclusive of service
charge) are also increased by 7.7% in line with the increase for
social rents.
 

D)      
Approve that rents for affordable shared ownership
properties are increased by 5.4%, recognising that inflation
measured by the Retail Price Index (RPI) at January 2024 plus 0.5% results in an increase of
5.4%.
 

E)       
Approve that garage rents be increased by 7.7% in
line with the increase for social rents.
 

F)       
Approve the proposed service charges for HRA
services and facilities provided to both tenants and leaseholders,
as shown in Appendix D.
 
HRA:
Capital
 

G)      
Approve the required level of funding for new build
investment between 2024/2025 and 2028/2029 to ensure that
commitments can be met in respect of the investment of all right to
buy receipts currently retained or anticipated to be received by
the authority for this period. This expenditure will take the form
of HRA new build, with the 60% top up met by other HRA
resources.
 

H)      
Approve the HRA Medium Term Financial Strategy
forecasts as shown in Appendix B.
 

I)         
Approve the Housing Capital Programme as shown in
Appendix C.