Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: July 7, 2025

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.

Content: RESOLVED that the Executive notes the contents of the report.