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Cabinet received a report presenting the Final Housing Revenue
Account (HRA) Budget for 2025/26.

Members were advised that the report proposed a 2.7% increase in
dwelling rents.  Service charges had
been based on cost recovery or actual costs, with the largest
increases being driven by utility costs.

The final budget would ensure support to the achievement of the
Council’s key housing priorities and ensure the continued
delivery of high-quality housing services.

Members noted the Chief Finance Officer Statement within the report
which advised of the significant pressures on the HRA from repairs
and voids and that additional measures had been taken to reflect
this.

That it be RESOLVED that the following proposals be
recommended to Council on 22 January 2025
1.              
That HRA dwelling rents be increased
(week commencing 1 April 2025) by 2.7%. This equates to an average
increase of £3.21 for social rents, £5.02 for
affordable rents and £3.94 for Low Start Shared Ownership
homes per week (based on a 52-week year).
2.              
That the 2025/26 service charges are
approved as set out in paragraph 4.2.
3.              
That the
HRA budget for 2025/26, set out in Appendix A, is
approved.
4.              
The 2025/26 growth options as set out in section 4.4 are
approved.
5.              
That the additional repair pressures
of £2,674,860, as
set out in 4.4.6, and the net salary savings of £551,920 at
4.4.10, are approved to be included in the working budget for
2024/25.
6.              
That the 2025/26 Fees and Charges as set
out in Appendix B are noted.
7.              
That the revised minimum levels of
balances for 2025/26 shown in Appendix C are approved.
8.              
That Members note the Rent Increase
Equalities Impact Assessments (EqIA)
appended to this report in Appendix D and the Rent Flexibility
EqIA in Appendix F.
9.              
That Members note the Aids and
Adaptations Policy Equalities Impact Assessments appended to this
report in Appendix E.
10.           
That the contingency sum of £500K,
within which the Cabinet can approve supplementary estimates, be
approved for 2025/26 (£400K in 2024/25) as set out in
paragraph 4.9.3.
11.           
That the decisions taken on
recommendations 2.1 – 2.10 above be referred to the Overview
and Scrutiny Committee for consideration in accordance with the
Budget and Policy Framework rules in the Council’s
Constitution.