Decision details

This report summarises the proposed HRA Medium Term Financial Strategy, the revised HRA Reserves Strategy, the 2023/24 HRA draft budget and the 2023/24 through 2027/28 Housing Capital Investment Programme.

Full Council – 23 February 2023

RECOMMENDATION TO FULL COUNCIL ON 23 FEBRUARY 2023

RESOLVED that Cabinet:-

1.    Notes the cost pressures on the HRA and efficiencies being proposed to mitigate these to support the longer-term investment needs of the housing stock; and

2.    Notes the HRA Medium Term Financial Strategy (MTFS) as set out in paragraphs 2.20; and

3.    Recommends to Full Council on 23 February 2023 approval of the Housing Revenue Account Draft Budget for 2023/24, as outlined in paragraph 2.22 and detailed in Appendix 1, including the proposed revenue investments totalling £1.1M, [Appendix 2, paragraph 2B refers], with any final amendments being delegated to the Cabinet Spokesperson for Growth & sustainability and the Executive Director for Growth & Sustainability in consultation with the Cabinet Spokesman for Core Services and the Service Director - Finance (S151); and

4.    Notes the acceleration of EPC and stock condition survey works to complete fully during 2023/24; and

5.    Recommends to Full Council on 23 February 2023 approval of a rent increase of 6.5%, which is under the Government’s Rent Cap of 7%; and

6.    Recommends to Full Council on 23 February 2023 approval of a non-dwelling rent increase in line with CPI; and

7.    Notes that both service charges and district heating charges will be subject to a separate review during 2023/24; and

8.    Recommends to Full Council on 23 February 2023 approval of the 2023/24 Berneslai Homes Management Fee totalling £15.453M [Appendix 2, paragraph 2C refers], with any final amendments delegated to the Cabinet Spokesperson for Growth & Sustainability and the Service Director, Regeneration & Culture in consultation with the Cabinet Spokesman for Core Services and the Service Director -Finance (S151); and

9.    Recommends to Full Council on 23 February 2023 approval of the 2023/24 Berneslai Homes Management Fee for both Gypsy Sites, and the European Social Fund (ESF) Grant totalling £0.216M, both of which are charged to the Authority’s General Fund [Appendix 2, paragraph 2D refers]; and

10.Recommends to Full Council on 23 February 2023 approval of the Core Housing Capital Investment programme for 2023/24 totalling £20.394M [£14.849M to maintain decency and £5.545M supplementary works] and noting of the indicative programme for 2024/25 through 2027/28, outlined in paragraphs 2.24 – 2.25; and

11.Recommends to Full Council on 23 February 2023 approval in principle, of the proposed capital schemes totalling £42.330M, subject to individual reports as appropriate, in line with the Council’s governance arrangements [paragraphs 2.26 – 2.29 refer]; and

12.Recommends the report to Full Council on 23 February 2023.