Decision details

Housing Revenue Account Revenue and Capital Budget 2024/2025

Decision Maker: Cabinet

Is Key decision?: No

Is subject to call in?: No


Consider the Housing Revenue Account Budget for 2024/25




Housing Revenue Account (HRA): Revenue


(a) approved the HRA revenue budget for 2024/2025 as shown in the HRA Budget Summary as presented at Appendix A.


HRA: Review of Rents and Charges


(b) Approved that council dwelling rents for all social rented properties be increased by 7.7%, recognising that inflation measured by the Consumer Price Index (CPI) at September 2023, plus 1% results in an increase of 7.7%.


(c) Approved that affordable rents (inclusive of service charge) are also increased by 7.7% in line with the increase for social rents.


(d) Approved that rents for affordable shared ownership properties are increased by 7.7% or RPI at January 2024 plus 0.5% whichever is the lower, from April 2024.


(e) Approved that garage rents be increased by 7.7% in line with the increase for social rents.


(f) Approved the proposed service charges for HRA services and facilities provided to both tenants and leaseholders, as shown in Appendix D.


HRA: Capital


(g) Approved the required level of funding for new build investment between 2024/2025 and 2028/2029 to ensure that commitments can be met in respect of the investment of all right to buy receipts currently retained or anticipated to be received by the authority for this period. This expenditure will take the form of HRA new build, with the 60% top up met by other HRA resources.


(h) Approved the HRA Medium Term Financial Strategy forecasts as shown in Appendix B.


(i) Approved the Housing Capital Programme as shown in Appendix C.


Publication date: 06/02/2024

Date of decision: 06/02/2024

Decided at meeting: 06/02/2024 - Cabinet

Accompanying Documents: