Decision - Housing Revenue Account Budget & Capital Investment Programme 2023/24 and Medium-Term Financial Strategy

RESOLVED: That the Housing Committee: 2.1 Approves a rent increase of up to 7% in line with government legislation as detailed in paragraph 4.6 of the report as amended. 2.2 Approves the service charges and fees as detailed in Appendix 2 to the report as amended. 2.3 Notes the Medium-Term Financial Strategy and 30-year financial projections shown in Appendix 4 to the report. 2.4 Approves the Travellers fees and Charges set out in Appendix 5 to the report. That Housing Committee approves and recommends to Policy & Resources Committee: 2.5 That the updated HRA Revenue Budget for 2023/24 as shown in section 4 of the main report and Appendix 1 to the report be agreed and recommended to Full Council for approval as amended. 2.6 Approve a capital programme of £57.791m for 2023/24 be agreed and the 5-year programme as set out in Appendix 3 as amended to the report be noted, and recommended to Full Council for approval; and That Full Council: 2.7 Approves the updated HRA Revenue Budget for 2023/24 as shown in section 4 of the main report and Appendix 1 to the report as amended. 2.8 Approve a capital programme of £57.791m for 2023/24 and notes the 5-year programme as set out in Appendix 3 as amended to the report.

The appendix sets out proposed changes to the Housing Revenue Account revenue budget for 2023/24, including inflation, investments, other budget changes and support service charges. It forecasts a closing HRA reserve balance of £8.743 million and maintains a recommended £3 million working balance.