Agenda item

RECOMMENDED to Council: -

(a)  That revenue budgets for 2024/25 and provisionally for 2025/26 to 2028/29 are set using the following principles:

i.      That dwelling rents are increased by 7.7 per cent (CPI for September 2023 + 1 per cent) from 1 April 2024 in line with the Department of Levelling Up, Housing and Communities Policy statement on rents for social housing published in February 2019 (Rent Policy Statement).

ii.     That garage, garage bases and parking plot rental charges are increased by 7.7% from 1 April 2024.

iii.    That leasehold services are charged to leaseholders in line with actual costs incurred.

iv.    That shared ownership dwelling rents are increased in line with lease terms.

v.     That the changes to services charges are agreed as set out in appendix 2.

vi.    That the bad debt provision is set at £0.4 million.

vii.   That the depreciation budget is set at £12.4 million.

viii.  That HRA reserves are maintained at a minimum level of 5 per cent of total expenditure in line with good practice at £2.2 million.

(b)  That capital budgets for 2024/25 and provisionally for 2025/26 to 2028/29 are set using the following principles.

i.      That the planned maintenance programme as set out in Appendix 5 is agreed.

ii.     That the major project capital programme as set out in Appendix 6 is noted.

iii.    That the 2024/25 budgets of £0.4 million for feasibility works and £3 million for the acquisition of individual properties (Acquire and Repair) are approved.

(c)  The HRA Delivery Plan is approved as set out in appendix 7.

Cllr T Trent and Cllr J Bagwell declared a pecuniary interest as they were subject to proposed increases to garage rental prices and left the room for the duration of the item.

Councillor K Wilson presented the report and recommendations as set out on the agenda.

The proposal was seconded by Councillor M Cox.

Council moved to a vote where the motion as follows was carried.

RESOLVED that Council: -

(a)       That revenue budgets for 2024/25 and provisionally for 2025/26 to 2028/29 are set using the following principles:

i.         That dwelling rents are increased by 7.7 per cent (CPI for September 2023 + 1 per cent) from 1 April 2024 in line with the Department of Levelling Up, Housing and Communities Policy statement on rents for social housing published in February 2019 (Rent Policy Statement).

ii.       That garage, garage bases and parking plot rental charges are increased by 7.7% from 1 April 2024.

iii.     That leasehold services are charged to leaseholders in line with actual costs incurred.

iv.     That shared ownership dwelling rents are increased in line with lease terms.

v.       That the changes to services charges are agreed as set out in appendix 2.

vi.     That the bad debt provision is set at £0.4 million.

vii.    That the depreciation budget is set at £12.4 million.

viii.  That HRA reserves are maintained at a minimum level of 5 percent of total expenditure in line with good practice at £2.2million

(b)       That capital budgets for 2024/25 and provisionally for 2025/26 to2028/29 are set using the following principles:

i.        That the planned maintenance programme as set out in Appendix 5 is agreed.

ii.      That the major project capital programme as set out in Appendix 6 is noted.

iii.    That the 2024/25 budgets of £0.4 million for feasibility works and £3 million for the acquisition of individual properties(Acquire and Repair) are approved.

(c)       The HRA Delivery Plan is approved as set out in appendix 7.

Voting: Nem.Con.