Decision details

This report summarises the proposed HRA Medium Term Financial Strategy, the revised HRA Reserves Strategy, the 2024/25 HRA draft budget and the 2024/25 through 2028/29 Housing Capital Investment Programme.

Joint Growth and Sustainability Directorate and Core Services Directorate report.

Full Council – 1 February 2024

Moved by Councillor Frost – Seconded by Councillor Bowser; and

RESOLVED

i)             That the HRA draft budget business plan for 2024/25 be approved, and the MTFS (Medium Term Financial Strategy) be noted, 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 Spokesperson for Core Services, the Director of Finance (S151, and Service Director Regeneration and Culture (Client lead for Berneslai Homes);

ii)            That a rent, non-dwelling rent, service charge and District Heating kWh increase of 7.7% in line with the Government’s Rent Cap to maintain decency and to avoid cuts to services in 2024/25 and future years be approved

iii)           That the 2024/25 Berneslai Homes Management Fee totalling £16.674M, plus Gypsy and Traveller Management fee of £0.069M charged to the General Fund. Total £16.743M be approved;

iv)           That the Core Housing Capital Investment Programme for 2024/25 totalling £17.939M (Appendix 1) be approved;

v)            That the proposed 5-year New Build and Acquisitions Programme £42.861M (up to c200 properties) be approved in principle, subject to individual reports as appropriate, in line with the Council’s governance arrangements (Appendix 2);

vi)           That a one year only £4.9M priority adjustment from Capital BHS to responsive Revenue Repairs to fund current demand whilst maintaining decency standards be approved.