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RESOLVED: Cabinet recommended
to Council;
a)   
The HRA revenue budget for 2025-26 of
£67.4m.
b)   
An average maximum rent increase of 2.7% per
dwelling, in line with the legislation and the government’s
amended national rent standard, to take effect from 1 April
2025.
c)    
An increase of 2.7% in garage rents and commuter
surcharges to take effect from 1 April 2025.
d)   
An average increase of 2.7% in tenants and
leaseholders service charges with effect from 1 April
2025.
e)   
The HRA capital programme for 2025-26, noting the
future year estimated commitments, and proposed sources of
finance.
f)     
The total management fee of £35.6m for NPH to
deliver the HRA services in scope for 2025-26.
g)   
The setting of the working balance at £6m,
with the assessed minimum level of £5m informed by the
outcome of the latest financial risk assessment.
h)   
That authority be delegated to the Executive
Director of Finance in consultation with the Portfolio Holder for
Finance to transfer monies to/from earmarked reserves and the
working balance, should that become necessary during the financial
year.
i)      
That authority be given to the Executive Director of
Finance to update the prudential indicators in the Treasury
Management Strategy reported to Council.
j)      
That authority be delegated to the Executive
Director of Finance in consultation with the portfolio holder for
Finance to amend the capital programme for 2025-26 going forward so
that it accurately reflects issues such as slippage on current year
projects that will need to be added to the programme, any
amendments made to existing capital programmes, adjustments to
accommodate any future use of capital receipts policy, and for any
other reason where the capital programme needs to be
adjusted.
k)    
That authority be delegated to the Executive
Director of Finance to make any technical changes necessary to the
papers for the Council meeting of 20 February 2025.
l)      
That authority be delegated to the Executive
Director of Finance to approve, finalise and publish the HRA
Business Plan 2025 which will be produced once this report has been
considered and agreed by full council.
 
REASONS RESOLVED:
1.    
To ensure that the HRA reflects the statutory
requirement under Section 74 of the Housing and Local Government
Act 1989 to account separately for local housing
services.
2.    
To ensure the Council sets a balanced HRA within
national standards in relation to rent increases and is able to
meet its wider duties and obligations to tenants.
 
ALTERNATIVE OPTIONS:
These are set out within the
report.