Issue - meetings

HRA Budget Report 24-25

Meeting: 28/02/2024 - Council (Item 80)

80 HRA Budget Report 24-25 pdf icon PDF 264 KB

To consider the report of the Head of Finance, Procurement & Commercial Services.

(Relevant Portfolio Holder: Councillor N Pryce-Roberts)

Minutes:

Consideration was given to the report of the Head of Finance, Procurement & Commercial Service, as contained on pages 111 – 132 of the Book of Reports, which sought approval of the Housing Revenue Account (HRA) budget and capital investment programme for the next financial year 2024/25.

 

The minutes of the Executive Overview & Scrutiny Committee, Landlord Services Committee (Cabinet Working Group) and Cabinet had been circulated prior to the meeting.

 

RESOLVED:

 

A.       That the rent and service charges set within delegated authority, as detailed in sections 4 and 5 of the report, be noted.

 

B.       That the 2024/25 HRA budget, attached at Appendix 1 to the report, be approved.

 

C.       That the 30-year capital programme in paragraph 7.2 of the report, be approved.

 

D.       That, subject to any updated approvals in regard to Tawd Valley Developments, the HRA budgets be added to reflect the HRA share of each scheme cost, as detailed in paragraphs 7.3 to 7.6 of the report.

 

E.       That the reserves policy set out in appendix 2 to the report, be approved.

 

F.       That the HRA 30 year business plan in appendix 3 to the report, be noted.

 

G.      That delegated authority be given to the Director of Transformation, Housing and Resources to take all necessary action to implement the decisions of Council.

 


Meeting: 06/02/2024 - Cabinet (Item 143)

143 HRA Budget Report 24-25 pdf icon PDF 205 KB

To consider the report of the Head of Finance, Procurement & Commercial Services.

(Relevant Portfolio Holder: Councillor N Pryce-Roberts)

Additional documents:

Minutes:

Councillor N Pryce-Roberts introduced the report of the Head of Housing, Procurement & Commercial Services, which sought feedback to enable the Council to set its Housing Revenue Account (HRA) budget and capital investment programme for the next financial year 2024/25.

 

The Minutes of the Landlord Services Committee (Cabinet Working Group) and the Executive Overview & Scrutiny Committee had been circulated prior to the meeting.

 

In reaching the decision below, Cabinet considered the report before it and the recommendations contained therein.

 

RESOLVED:

 

A.    That the financial position be noted and consideration given to the budget matters set out in this report.

 

B.    That the use of the Director of Transformation, Housing & Resources delegated authority in relation to rent and service charge changes be noted.

 

C.    That consideration be given to the comments received from the committees and working group above when finalising the HRA budget proposals to be approved by Council on 28 February 2024.

 

D.    That the Housing Portfolio Holder be given delegated authority to submit firm proposals to Council on 28 February 2024 to enable the budget to be set.

 


Meeting: 25/01/2024 - Executive Overview & Scrutiny Committee (Item 59)

59 HRA Budget Report 24-25 pdf icon PDF 191 KB

To consider the Report of the Head of Finance, Procurement & Commercial Services.

 

Minutes:

The Principal Finance Business Partner outlined the report of the Head of Finance, Procurement and Commercial Services as contained on pages 353 to 368 of the Book of Reports, which was to obtain feedback from the Committees listed to enable the Council to set its Housing Revenue Account (HRA) budget and capital investment programme for the next financial year 2024/25.

 

The Principal Finance Business Partner responded to comments and questions raised in respect of the following:

  • How does the Capital Programmes for kitchens, roof, walls account for inflation? – stock condition / profile over 30 years
  • Increase in Loan interest – is this trajectory likely to continue? – Estimate is based on interest paid if we deliver all Capital Programme and HRA for TVD new builds we are investing in. Some Homes England grant to part fund TVD building
  • RTB sales increased from 50 to 60, which reflects the average right to buy sales in the medium term
  • An increase in tenants monthly direct debit that is more than the expected percentage change - This is because 49 charging weeks will be split between twelve months rather than the usual 48 weeks.  This was explained to the Tenant Scrutiny group last time this happened and to Tenant representatives on Landlord Services Committee this time.  Operational colleagues intend to advise tenants of this via communications, along with suggestions how they might manage paying for the additional week

                                                                    

RESOLVED: That the report be considered and noted.