Issue details

FINANCIAL PLAN FOR COUNCIL HOMES: THE HOUSING REVENUE ACCOUNT (HRA) BUDGET AND RENTS/SERVICE CHARGES FOR 2023/24

This report sets out the HRA budget proposals for the financial year 2023/24 including changes to rent levels and other charges and explains the wider strategic operating environment facing the HRA.

The Council will optimise the financial position for the HRA in 2023/24 and rents will be increased by 4.4%. Additional investment (including one-off growth) of £3.5m is planned to support improvements in customer services, the management of disrepair and health & safety and supporting tenants through an Annual Visits Programme.

The 40-year HRA business plan is being updated and reviewed. This will be reported in detail to the Cabinet in March 2023 and will set out the medium-term financial position on the HRA.

Decision type: Key

Reason Key: Expenditure/Income over £5m & policies or new income, reserves use, overspend over £300K;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 14/12/2022

Report access: Open;

Report Type: Key Decision;

Decision due: 6 Feb 2023 by Cabinet

Lead member: Cabinet Member for Housing and Homelessness

Lead director: Strategic Director of the Economy Department

Department: The Economy department

Contact: Danny Rochford Email: Danny.Rochford@lbhf.gov.uk.

What is the total value of the decision?: Yes

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