Issue - meetings

That Cabinet recommend to Full Council at its meeting on 13 February 2024:

a)          the Housing Revenue Account (HRA) budget for 2024/25, as set out in Appendix A1 to the report;

b)         an increase of 7.7% in the 2023/24 rents of all properties in the HRA as at 31 March 2024 be applied from 1 April 2024; and

c)         the 2024/25 service charges, as set out in Appendix C to the report.

The Business Manager – Financial Services presented a report which examined the proposed income and expenditure on the Housing Revenue Account (HRA) for the 2024/25, in accordance with Section 76 of the Local Government and Housing Act 1989. The report also detailed indicative amounts of income and expenditure for the 2025/65 to 2027/28 financial years and proposed rent levels and service charges for 2024/25, with effect from the first Monday in April 2024.

The setting of the HRA budget and the approval of rent levels would be presented to the Full Council Meeting in February 2024, which would allow the required time to notify tenants of proposed changes to rents in accordance with the legislation. 

AGREED      (with 8 votes for and 1 against) that Cabinet recommend to Full Council at its meeting on 13 February 2024:

a)            the HRA budget for 2024/25, as set out in Appendix A1 to the report;

b)            an increase of 7.7% in the 2023/24 rents of all properties in the HRA as at 31 March 2024 be applied from 1 April 2024; and

c)             the 2024/25 service charges, as set out in Appendix C to the report.

Reason for Decision

To advise Members of the proposed HRA budget and charges in rent and service charge levels for 2024/25 and for these to be recommended to Ful Council at its meeting on 13 February 2024.

Options Considered

Various modelling was undertaken to assess the impact of different rent levels on the viability of the HRA 30-year business plan to arrive at the recommendation  made to the Cabinet.

Consideration was also given to varying increases between general needs and supported (sheltered and extra care) accommodation but no rationale was found to support this, alongside the equitable nature of any decision to do so.