Agenda item

·  Approved the HRA revenue budget for 2023-24 (Table 1 & Appendix A)

·  Noted the HRA 5-year revenue budgets for 2023-24 to 2027-28 (Table 1 & Appendix A)

·  Noted the HRA 30-year revenue budgets for 2023-24 to 2052-53 (Appendix B)

·  Approved the HRA 5-year Capital Programme for a total £52.714m (Table 3 & Appendix C)

·  Noted the 30-year Capital Programme for 2023-24 to 2052-53 (Appendix D)

·  Noted the draft HRA reserves and balances for the 5-year Business Plan (Appendix E)

The Lead Member for Financial Oversight & Council Assets introduced a report that set out the proposed 30-year Investment Plan for the Housing Revenue Account (HRA) and both the revenue and capital business plans.

The plan demonstrated that the Council was able to fund the proposals subject to the assumptions in the plan and that the HRA remained sustainable and viable over the 30-year period.  The Council owned and managed approximately 7,600 properties of which there were 6,035 HRA social and affordable rented properties.  No new acquisition or new build proposals were made in the business plan.  Social rents would rise by 7% for 2023/24 as agreed by Cabinet in January, and service charges would increase by the same amount.  The five-year HRA capital programme of £52m was reviewed.  The main items included repairs and stock modernisation.

The Cabinet welcomed the fact that the HRA was in surplus and that the housing stock was generally in good condition.  After due consideration, the recommendations were agreed and the report would be presented to Council on 9^th March 2023.

Recommended –

That the recommendations be agreed and that it be presented to Council on 9^th March 2023:

(a)  That the HRA revenue budget for 2023-24 (Table 1 & Appendix A) be approved.

(b)  That the HRA 5-year revenue budgets for 2023-24 to 2027-28 (Table 1 & Appendix A) be noted.

(c)  That the HRA 30-year revenue budgets for 2023-24 to 2052-53 (Appendix B) be noted.

(d)  That the HRA 5-year Capital Programme for a total £52.714m (Table 3 & Appendix C) be approved.

(e)  That the 30-year Capital Programme for 2023-24 to 2052-53 (Appendix D) be noted.

(f)  That the draft HRA reserves and balances for the 5-year Business Plan (Appendix E) be noted.