Decision - Housing Revenue Account Budget & Capital Investment Programme 2024/25 and Medium-Term Financial Strategy

Housing revenue account 2024/25 budget paper

RESOLVED: That the Housing & New Homes Committee: 2.1 Approves a rent increase of up to 7.7% in line with government legislation as detailed in paragraph 3.14 of the report. 2.2 Approves the service charges and fees as detailed in Appendix 2 to the report. 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 the Housing & New Homes Committee approves and recommends to Strategy, Finance & City Regeneration Committee: 2.5 The updated HRA Revenue Budget for 2024/25 as shown in Table 1 of the main report and Appendix 1 to the report be agreed and recommended to Full Council for approval. 2.6 That the un-ringfencing of reserves is approved as set out in paragraphs 3.20 to 3.23 of the main report and Appendix 1 to the report. 2.7 That the new Capital Programme Budget of £57.955m for 2024/25 be agreed as part of the revised capital budget of £87.623m (which includes reprofiles of £29.668m from 2023/24), and recommended to Full Council for approval; and 2.8 That the 5-year capital programme as set out in Appendix 3 to the report is noted, and recommended to Full Council for approval. That Full Council: 2.9 Approves the updated HRA Revenue Budget for 2024/25 as shown in Table 1 of the main report and Appendix 1 to the report. 2.10 Approves the new Capital Programme Budget of £57.955m for 2024/25 as part of the revised capital budget of £87.623m (which includes reprofiles of £29.668m from 2023/24); and 2.11 Notes the 5-year capital programme as set out in Appendix 3 to the report.

The document sets out proposed HRA service charges for 2024/25. Charges are generally increased to reflect inflation, utility costs and service costs, while the TV aerial charge is reduced because the initial investment has been repaid.