Agenda item

Housing Revenue Account (HRA) Budget Proposals 2023/24

Decision:

That Cabinet recommended the following proposals to full Council:

 

1.      Agreed and recommended a rent increase of 7% effective from Monday 03 April 2023 to Full Council, applicable to HRA dwelling (general needs accommodation, supported housing and temporary accommodation).

2.      Agreed and recommended the one-year revenue budget of £137.4m for 2023/24 set out in Appendix A1 to Full Council.

3.      Agreed and recommended the five-year capital programme 2023/24–2027/28 as detailed in Appendix A1 to Full Council.

4.      Authorised the Executive Director of Growth and Regeneration, in consultation with the Cabinet Member for Housing Delivery and Homes, to increase service charges (including district heating) and garage rents in line with inflation.

5.      Noted the key assumptions in the 30-year business plan and that the finance model is established within the agreed affordability principles summarised in Appendix A1, Table 4.

 

That Cabinet Agreed:

6.      Authorised the Executive Director of Growth and Regeneration in consultation with the Cabinet Member for Housing Delivery and Homes and the Council’s Section 151 Officer to submit appropriate funding applications (including Homes England grants for development) and if successful to:

o   Accept funding and agree associated grant terms/conditions (additional consultation required with Legal Services); and

o   spend the funding by delivery of the projects (set out in appendices A2 and A3) via compliant procurement routes; and

o   use HRA investment plan funds and or reserves to match fund projects to maximise funding opportunities; and

o   such authority to include decisions above £500K.

o   Delegated decisions relating to funding applications and associated projects will be published (Officer

o   Executive Decisions).

7.      Authorised the Executive Director of Growth and Regeneration in consultation with the Cabinet Member for Housing Delivery and Homes and the Council’s Section 151 Officer, subject to keeping within the approved overall HIP budget:

a.      To approve the priority of the procurement projects set out in Appendix A2, take all steps required to select the appropriate procurement route and to award the contract in line with the Councils procurement rules and regulations. Such authority to include decisions above £500K.

b.      to adjust and/or defer (from within the current year’s programme, including those set out in Appendix A2) any project(s) to fund the increased cost of any other project and/or to accommodate other changes in the programme subject to keeping within the approved overall budget. Delegated decisions to adjust or defer the programme will be published (Officer Executive Decisions).

8.      Authorise the Executive Director Growth and Regeneration consultation with the Cabinet Member for Finance, Governance and Performance and the Cabinet Member for Housing Delivery and Homes and the Council’s Section 151 Officer to:

a.      Approve the priority of the procurement projects set out in Appendix A3 and take all steps required to procure and award contracts (including goods, works and professional services) during 2023/24 to deliver the HRA Development Programme capital investment plans detailed in Appendix A3 (notwithstanding those individual contracts may exceed the key decision threshold)

b.      b. agree the allocation of financial expenditure on schemes within the Programme and to authorise changes to the schemes as required to deliver the development proposals. Such authority to include decisions above £500k

c.       c. to determine the appropriate nature/mix of tenure appropriate for each scheme

d.      d. to identify and authorise suitable sites and properties for the programme, including both Council property and acquiring additional land or properties.

e.      e. Delegated decisions relating to development will be published (Officer Executive Decisions).

 

Supporting documents: