Agenda item

The HRA Budget 2024/25 and Capital Programme 2023/24 to 2028/29

To consider the report of the Cabinet Member for Finance and Change detailing the HRA Budget 2024/25 and Capital Programme 2023/24 to 2028/29.


Report of the Cabinet Member for Housing detailing the HRA Budget 2024/25 and Capital Programme 2023/24 to 2028/29 and a 40-year business plan.  The report provided details to inform Council in setting rents, service charges and landlord-controlled heating charges for 2024/25. The report also sets out the HRA capital programme HRA for the period 2023/24 to 2028/29 and identifies how the 2024/25 HRA budget had been balanced and contained the outcome of the formal consultation on proposals for rent and landlord-controlled heating charges.


The recommendations therein, were moved by Councillor Frampton and seconded by Councillor Fielker.


The Council agreed to suspend Council Procedure Rules 14.2, 14.5, 14.6, 14.7, 14.8, 14.9 and 16.2:-


(i)  to enable any amendments to be proposed, seconded and considered at the same time;

(ii)  to enable any amendment to be re-introduced later into the meeting; and

(iii)  to revise the time allowed for speakers as follows:-


Movers of motions - 20 minutes Seconders - 10 minutes

Green Party/Independent Members – 5 minutes

Honorary Alderman - 5 minutes

Right of Reply (Executive only) – 10 minutes




(i)  Following consultation (paragraphs 14 to 25) to approve that, from 1 April 2024, an average rent increase would be applied to dwelling rents of 7.7% in line with Government guidance, as detailed in paragraph 14, equivalent to an average increase of £7.15 per week in the current average weekly dwelling rent figure of £92.75 for Social rent, and £10.58 per week in the current average weekly rent for affordable rent of £151.16. Rents for Shared Ownership rents would also increase by 7.7%.

(ii)  That there was no increase in weekly service charges to be applied from 1 April 2024, pending further work as detailed in paragraph 21 be approved.

(iii)  That the Housing Revenue Account revenue estimates as set out in Appendix xx be approved.

(iv)  That the 40-year business plan for revenue and capital expenditure set out in Appendix 1 and Confidential Appendix 6 respectively, that based on current assumptions were sustainable, maintaining a minimum HRA balance increasing from £2.0M agreed for 2023/24 to £7M from 2027/28 in every financial year in line with current policy be approved.

(v)  That the increase in landlord-controlled heating charges as detailed in paragraph 25. which represent a 5% increase (reduced from the 10% increase previously anticipated in the MTFS update in July 2023) be approved.

(vi)  That the revised Housing Revenue Account (HRA) Capital Programme, which totals £280.01M (as detailed in paragraph 60 & 61 and the associated use of resources be approved.

(vii)  That the capital projections in the HRA Capital Programme for 2023/24 to 2028/29 as detailed from paragraph 60, and that spend between 2023/24 and 2027/28 had been increased following the decision of Cabinet on 6 February 2024 on the future delivery of Plots 2,9 and 10 Townhill Park, to deliver plots 2 and 9 through the Affordable Homes Framework and adjusted for known slippages at Quarter 3 be approved.

(viii)  That an increase in the HRA working balance from the current £2m, to £7m by 2027/28 be approved.



NOTE: FOR THE RECOMMENDATIONS: Councillors Allen, Barne-Andrews, Blatchford, Bogle, M Bunday, Cox, Denness, Evemy, Fielker, Finn, A Frampton, Y Frampton, Goodfellow, Greenhalgh, Kataria, Kaur, Kenny, Keogh, Lambert, Letts, McCreanor, McEwing, Mintoff, Noon Paffey, Payne, Quadir, Rayment, Renyard, Savage, Shields, Ugwoeme, Webb, Whitbread, Winning and T Bunday.


NOTE: AGAINST THE RECOMMENDATIONS: Councillors J Baillie, P Baille, Beaurain, Fitzhenry, Galton, Houghton, Laurent, Moulton, Powell-Vaughan, Blackman, Chapman, Wood and Barbour.  

Supporting documents: