Decision details

Housing Revenue Account - Draft 2024/25 Budget and Capital Investment Proposals 2024-29 (Cab.24.1.2024/7)

Decision Maker: Cabinet

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

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

Decision:

RECOMMENDATION TO FULL COUNCIL ON 1 FEBRUARY 2024

 

RESOLVED that Cabinet recommend to forward to Full Council to approve:-

 

1.    The HRA draft budget business plan for 2024/25 & note the MTFS (Medium Term Financial Strategy), 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, the Director of Finance (S151); and Service Director Regeneration and Culture (Client lead for Berneslai Homes); and

 

2.    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; and

 

3.    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; and

 

4.    The Core Housing Capital Investment Programme for 2024/25 totalling £17.939M Appendix 1; and

 

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

 

6.    A one year only £4.9M priority adjustment from Capital BHS to responsive Revenue Repairs to fund current demand whilst maintaining decency standards.

Publication date: 24/01/2024

Date of decision: 24/01/2024

Decided at meeting: 24/01/2024 - Cabinet

Accompanying Documents: