Content

RESOLVED:  That Cabinet recommended Council to approve:
-
a)   
The HRA revenue budget for 2024-25 of
£65.49m.
b)   
An average maximum rent increase of 7.7% per
dwelling, in line with the legislation and the government’s
amended national rent standard, to take effect from 1 April
2024.
c)   
An average maximum increase of 7.7% in garage rents
and commuter surcharges to take effect from 1 April
2024.
d)   
An average increase of 7.7% in tenants and
leaseholders service charges with effect from 1 April
2024.
e)   
The HRA capital programme for 2024-25, noting the
future year estimated commitments, and proposed sources of
finance.
f)    
The total management fee of £34.9m for NPH to
deliver the HRA services in scope for 2024- 25.
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 2024-25 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 22 February 2024.
 
 
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:
None