Issue - meetings

This report seeks Cabinet approval for the HRA Business Plan (BP) 30-year model which sets the parameters of the work and spend that is undertaken by the Council’s housing team, underpinning every decision taken in the HRA. The BP model aligns with the direction and objectives of the Medium-Term Financial Strategy (MTFS), alongside the commitments of the HRA capital programme and acquisitions and new build ambitions for HRA led housing. Once approved by Members, a summary version of the HRA BP will be published in 2024.

The report sought Cabinet approval for the HRA Business Plan (BP) 30-year model which sets the parameters of the work and spend that is undertaken by the Council’s housing team, underpinning every decision taken in the HRA. The BP model aligns with the direction and objectives of the Medium-Term Financial Strategy (MTFS), alongside the commitments of the HRA capital programme and acquisitions and new build ambitions for HRA led housing. Once approved by Members, a summary version of the HRA BP will be published in 2024.

Proposed by Councillor Shoob,

Seconded by Councillor J Martin; and

RESOLVED:

1.             That report C/23/57 be received and noted.

2.             That the 30-year HRA Business Plan and financial projections attached at appendix 1 be approved.

3.             That the HRA BP financial plan will be referred to Cabinet as part of the 24/25 budget setting process in February 24. The revised business plan will form the basis of future HRA budgets and supersedes any previous BPs or medium-term capital programmes.

4.             That the revision of the HRA medium-term capital programme and other budget revisions made within this HRA BP allows for provision of annual resources of £5m (based on current prices), to facilitate the delivery of approximately 20 additional council homes each year, during the first 18 years of this Plan.

5.             That the HRA priorities and assumptions set out within the HRA BP be agreed.

6.             To note that the Business Plan includes assumptions that are subject to future Cabinet decisions on:

o   a future de-pooling of service charges to fairly and transparently recoup income that is due to the HRA; and

o   a disposals policy and financial model for assessing the economic viability of managing and maintaining elements of stock.

(Voting figures: 8 for, 0 against, 0 abstentions).

REASONS FOR DECISION:
Cabinet is asked to agree the recommendations in order to ensure that the Council continues to provide a financially balanced housing management service that meets legislation and delivers excellent customer service to our tenants and leaseholders across the district.