Agenda item

Cabinet agreed to note the HRA 30-year Business plan as set out in Appendices A & B.

Cabinet agreed to recommend to Council to:

·  Approve the HRA revenue budget for 2024/25 as set out in Table 3 & Appendix C which reflects the annual rents & service charges increases already approved by Cabinet.

·  Approve the HRA 5-year Capital Programme as set out in Table 4 & Appendix D.

·  Note the draft 5-year HRA reserves and balances as set out in Appendix E.

The Lead Member for Highways, Housing and Transport introduced a report that set out the proposed 30-year Business Plan for the Housing Revenue Account (HRA) including both the revenue and capital position.

The revenue business plan over a 5-year period projected total income of £236.72m and expenditure of £222.268m. The HRA capital programme provided for a total capital investment of £105.313m over the next 5 years and a total of £683.188m over the 30-year period.  The Business Plan demonstrated that the Council was able to fund the proposals subject to the assumptions within the plan, and that the HRA remained sustainable and viable over the 30-year period.

The Cabinet agreed the importance of robust, forward looking strategy that would maintain and improve the Council’s housing stock.  It was noted that £13m had been set aside for damp and mould issues and general repairs.  The investment over the full 30-year period of the plan would be circa £1bn.  Members asked a number of questions including about the plans for decarbonisation and it was noted that £8.2m had been allocated for new boilers in social housing.

After due consideration it was agreed to recommend the HRA business plan to full Council on 7^th March 2024.

Resolved –

Cabinet agreed to note the HRA 30-year Business plan as set out in Appendices A & B.

Recommended –

Cabinet agreed to recommend to Council to:

·  Approval of the HRA revenue budget for 2024/25 as set out in Table 3 & Appendix C which reflects the annual rents & service charges increases already approved by Cabinet.

·  Approval of the HRA 5-year Capital Programme as set out in Table 4 & Appendix D.

·  That it note the draft 5-year HRA reserves and balances as set out in Appendix E.