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Details
Business Item
Housing Revenue Account (HRA) Budget Report 2024/25 to 2027/28
Decision Maker:
Full Council
Date of Decision
Wed 21 Feb 2024
Description
Report of the Cabinet
Member with responsibility for Resources and Value for Money and the Deputy Leader and Cabinet Member
with responsibility for Housing.
Matter for Decision (to consider...)
To approve:
The draft HRA budget for 2024/25, and the indicative figures for 2025/26 to 2027/28.
The movements in HRA Reserves and Balances;
The proposed rent increase of up to 7.7%. In line with the Rent Standard September 2023 CPI + 1%.
Service charges and associated fees for 2024/25;
Rent and Service Charges to be charged over a 51-week period unless being used for Temporary Accommodation when a 53-week period will be applied, due to 2024/25 being a 53-week year.
To note the following:
Projected outturn position for 2023/24;
Changes affecting public and private sector housing and welfare;
Effects of the cost-of-living crisis to the HRA.
Service Area
Financial Services, Corporate Performance & Risk Management
Background Papers:
November 2023 Budget Working Papers
November 2023 Bank of England Monetary Policy Report
November 2023 Bank rate maintained at 5.25% - November 2023
November 2023 September 2023 CPI
December 2023 HomeLet average rent Statistics
09 January 2024 Increase in LHA rate from April 2024
04 January 2024 Limit on annual rent increase 2024-25
July 2023 Social Housing (Regulation) Act 2023
Is Decision District Wide
Yes
Alternative Options Considered and Rejected
Any Declarations of Interest Declared
Decision Criteria
This Decision does not contain any decision criteria records.
Wards
Aldeburgh and Leiston; Beccles and Worlingham; Bungay and Wainford; Carlford and Fynn Valley; Carlton and Whitton; Carlton Colville; Deben; Eastern Felixstowe; Framlingham; Gunton and St Margarets; Halesworth and Blything; Harbour and Normanston; Kelsale and Yoxford; Kesgrave; Kessingland; Kirkley and Pakefield; Lothingland; Martlesham and Purdis Farm; Melton; Orwell and Villages; Oulton Broad; Rendlesham and Orford; Rushmere St Andrew; Saxmundham; Southwold; Western Felixstowe; Wickham Market; Woodbridge; Wrentham, Wangford and Westleton
Topics
This Decision does not contain any Topic records
Overview and Scrutiny
This Decision does not contain any Overview and Scrutiny records.
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Decision History
| 08/02/2024 11:54:25 | Lorraine Fitch | Business Item Created | |
| 08/02/2024 11:54:25 | Lorraine Fitch | Committee Added | Full Council |
| 08/02/2024 11:54:25 | Lorraine Fitch | Meeting Added | 21/02/2024 6:30PM |
| 08/02/2024 11:54:59 | Lorraine Fitch | Ward Added | Aldeburgh and Leiston |
| 08/02/2024 11:54:59 | Lorraine Fitch | Ward Added | Beccles and Worlingham |
| 08/02/2024 11:54:59 | Lorraine Fitch | Ward Added | Bungay and Wainford |
| 08/02/2024 11:54:59 | Lorraine Fitch | Ward Added | Carlford and Fynn Valley |
| 08/02/2024 11:54:59 | Lorraine Fitch | Ward Added | Carlton and Whitton |
| 08/02/2024 11:54:59 | Lorraine Fitch | Ward Added | Carlton Colville |
| 08/02/2024 11:54:59 | Lorraine Fitch | Ward Added | Deben |
Approval/Comments
No history found.