Decision Maker: Strategy and Resources Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: January 22, 2025

Purpose:

Content: 9.1 The Executive Director, Neighbourhood Services presented a report setting out setting out the Housing Revenue Account (HRA) Business Plan and HRA Budget for 2025/26. Each year, the HRA Business Plan is reviewed and updated to set budgets and charges for the year ahead and to provide an updated 5-year plan and 30-year affordability profile.   The report provides the Committee with an update on the current national and local housing context, regulatory requirements, and the priorities for the Committee to action, alongside capital and revenue spending plans for 2025/26, and indicated that the Housing Policy Committee would be responsible for overseeing the scrutiny and delivery of those plans on behalf of the Council housing tenants of Sheffield.   It was reported that the HRA Business Plan had also been considered by the Housing Policy Committee at its meeting on 5th December 2024     9.2 RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee recommends to the meeting of the City Council on 5 February 2025 that:-       (a) the Housing Revenue Account (HRA) Business Plan report for 2025/26 and the HRA Business Plan commitments for 2025/26 as set out in Appendix A are approved;   (b) the HRA Revenue Budget 2025/26 as set out in Appendix A is approved;   (c) rents for all council dwellings are increased by 2.7% from April 2025 in line with the Regulator of Social Housing’s Rent Standard of September 2024’s Consumer Price Index (CPI) + 1%;   (d) rents for temporary accommodation are increased by 2.7% from April 2025;   (e) garage rents for garage plots and sites are increased by 2.7% from April 2025;   (f) the sheltered housing service charge is increased by 1.7% from April 2025;   (g) the burglar alarm charge is increased by 1.7% from April 2025; and   (h) the furnished accommodation charge is increased by 1.7% from April 2025.     9.3 Reasons for Decision     9.3.1 The report and its recommendations, sets out the scale of the challenge ahead, the limited resources available and the difficult decisions that now need to be taken to deliver a balanced HRA budget for 2025/26 and for the overall 30-year viability.     9.4 Alternatives Considered and Rejected     9.4.1 The Council is required to both set a balanced in year HRA budget and to ensure that in-year income and expenditure are balanced over 30 years. No other alternatives were considered.