Purpose

To update Members on the budget and planning for the HRA 2025/26 and beyond.

Decision

Resolved:

Cabinet recommends Council:

a)    To note the draft budget estimates and proposals.

b)    To approve the HRA Annual Revenue Budget for 2025/26 as described in the report and Appendix 1, subject to an in year review.

c)    To approve the increase of 2.7% (CPI+1%) to Dwelling Rents and Garage Rents for 2025/26

d)    To approve the HRA Capital Programme for 2025/26 as described in the report and Appendix 2, including the allocation of an additional £99m for the Council House Build Programme.

e)    To note the reviewed and updated assumptions in the HRA 30-Year Business Plan as detailed in the report.

f)     To approve authority to receive bespoke or targeted grants (if awarded) during the year.

Please note: This HRA annual budget report will form part of the budget setting reports at Cabinet and Full Council but will remain separate from the General Fund medium term financial strategy (MTFS) – providing a more detailed report for members with an aim of greater information and transparency.

Reason for Decision:

To enable the Cabinet to recommend to Council a balanced budget (capital and

revenue) for the HRA for 2025/26, and in so doing continue to provide high

quality services to tenants and investment in their homes.

To enable effective, transparent decision making and ensure sound financial

management of the HRA as part of the council’s overall control environment.