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The Executive considered a report in respect of the final Housing Revenue Account (HRA) Budget and
Rent Setting for 2024/25.
 
It was RESOLVED that the
following proposals be recommended to Council on 24 January
2024:
 
1.         
That Housing Revenue Account (HRA) dwelling rents be increased
(week commencing 1 April 2024) by 7.7%. 
This equates to an average increase of £8.56 for social
rents, £13.30 for affordable rents and £10.09 for Low
Start Shared Ownership homes per week (based on a 52-week
year).

 
2.         
That the 2024/25 service charges be approved, as set out in
Paragraph 4.2 of the report.
 
3.         
That the HRA budget for 2024/25, as set out in Appendix A to the
report and as revised from the January 2024 draft budget report (as
explained in Paragraph 4.8.1 of the report), be approved.
 
4.         
That the 2024/25 growth options, as set out in Section 4.4 of the
report, be approved.
 
5.         
That the 2024/25 Fees and Charges, as set
out in Appendix B to the report, be approved.
 
6.         
That the minimum levels of balances for
2024/25, as shown in Appendix C to the report, be
approved.
 
7.         
That the Rent Increase Equalities Impact
Assessments, appended to the report in Appendix D, be
noted.
 
8.         
That the contingency sum of
£400,000, within which the Executive can approve
supplementary estimates, for 2024/25 (unchanged from 2023/24) be
approved.
 
9.         
That the comments from the Overview and
Scrutiny Committee, as set out in Paragraph 4.10.2 of the report,
be noted.
 
10.     
That key partners and other stakeholders
be consulted and their views considered
as part of the 2024/25 budget setting process.
 
Reason for Decision:  As contained in
report.
Other Options considered:  As
contained in report.