Purpose

This report provides the
Executive with details of the actual revenue expenditure for 2024/25 for the
Housing Revenue and Repairs Account, with updates and implications for the HRA
capital programme.

 

The Housing Revenue and Repairs
Account is separate from the General Fund of the Council and covers the income
and expenditure for the Council owned housing stock.

 

The £15.6M revised budget set by
the Executive for the Housing Revenue and Repairs Account in February
highlighted a number of pressures including responsive repairs costs remaining
high alongside those for planned maintenance and other capital costs. Therefore,
the revised budget was set with no expected transfers to the HRA reserves other
than for leaseholders.

 

However, careful management of
resources and phasing of the planned maintenance programme has meant that the
HRA outturn position is stronger.

 

The final figures for the Housing
Revenue and Repairs Account (HRA) in 2024/25 show net Expenditure for the year
of £14.7M, against income of £16.1M. This has meant that it has been possible
to make a £500k contribution to both the Capital Improvement and Development
Fund and Debt Repayment Reserve to earmark them for future financial
resilience. This has left a £274,985 surplus on the account which will be added
to the HRA revenue reserve.

 

Overall, total HRA Reserves have
increased by £1.649 million. However, HRA borrowing has increased by £3.85
million mainly to finance the new build projects in the capital programme.

Decision

RESOLVED that the Executive notes the contents
of the report.