Agenda item

To consider the recommendations from the Leader and Executive.

Councillor Federica Smith-Roberts proposed the recommendations, which were seconded by Councillor Suria Aujla.

Having been duly proposed and seconded, the Council Resolved to agree:-

1)    The HRA Annual Revenue Budget for 2025/26 as set out in Section 3 and in Appendix A.

2)    The Capital Programme of £304.638m including new additions of £213.587m and budget deletions of £4.738m as detailed in Section 4 and Appendix B.

3)    Delegated authority to the Chief Finance Officer (Section 151 Officer) to approve the final capital financing of the capital programme annual spend.

4)    Delegated authority to the Chief Finance Officer (Section 151 Officer) and the Executive Director of Community, Place and Economy, in conjunction with the Deputy Leader of the Council and Lead Member for Finance, Procurement and Performance and the Lead Member for Communities, Housing Revenue Account, Culture and Equalities and Diversity to approve the tenure (social vs affordable rents) of each social housing scheme.

5)    Delegated authority to the Executive Director of Community, Place and Economy and the Chief Finance Officer (Section 151 Officer), in conjunction with the Lead Member for Communities, Housing Revenue Account, Culture and Equalities and Diversity, to acquire dwellings in accordance with the HRA Capital Programme for 2025/26 to 2029/30 and updated Business Plan 2025/26.

6)    The minimum balance for the HRA General Reserves at £5.863m, the equivalent of 10% of revenue for 2025/26 and approximately £600 per property.

7)    To note the updated Medium Term Financial Plan 2025/26 to 2029/30.

8)    To note the updated 30-Year Business Plan in Section 7 and Appendix C.

The Lead Member for Communities, Housing Revenue Account, Culture, Equalities and Diversities, Councillor Federica Smith-Roberts, introduced the report which the Executive considered and endorsed at its meeting on 3 March 2025.

The report detailed both the Annual Revenue Budget for 2025/26 and the Capital Programme for 2025/26 to 2029/30 for the Housing Revenue Account (HRA). The report also provided an update on the 5-year Medium Term Financial Plan and the 30-year Business Plan Review.

Council was also reminded that the Rent Setting and Fees and Charges were approved by Full Council on 12 February 2025.

The Lead Member concluded that the report included proposals that would enable the Council to set a balanced budget which would satisfy its legal duty.

During the discussion, the following points were raised:-

·       Councillors highlighted comments raised by the Corporate Peer Challenge which stated that the long-term viability was not achievable.  Concern was raised that the HRA would be left in a vulnerable position.

·       Councillors were in favour of buying extra homes but were concerned on where the funds would come from to support the purchases.

The Lead Member for Communities, Housing Revenue Account, Culture, Equalities and Diversities advised that they would look at each purchase on its own merits and that the right to buy options could be used.

·       Councillors raised concern on the lack of 4-bedroom properties across the county and hoped that more stock would be forthcoming.

The Lead Member for Communities, Housing Revenue Account, Culture, Equalities and Diversities advised that the Capital Programme detailed the different projects and what type of properties they would generate.

·       Councillors highlighted that the delegation detailed in the recommendations did not mention the inclusion of scrutiny.

The Lead Member for Communities, Housing Revenue Account, Culture, Equalities and Diversities was happy to include scrutiny in the consultation.

·       Councillors requested clarification on the strategy for purchasing properties and queried how many had been purchased over the past 12 months.

The Lead Member for Communities, Housing Revenue Account, Culture, Equalities and Diversities advised that she would provide a written answer.

·       Councillors requested clarification on the developers 20% target for social housing and whether it was now for the Council or the registered providers.

Councillor Federica Smith-Roberts proposed the recommendations, which were seconded by Councillor Suria Aujla.

Having been duly proposed and seconded, the Council Resolved to agree:-

1)    The HRA Annual Revenue Budget for 2025/26 as set out in Section 3 and in Appendix A.

2)    The Capital Programme of £304.638m including new additions of £213.587m and budget deletions of £4.738m as detailed in Section 4 and Appendix B.

3)    Delegated authority to the Chief Finance Officer (Section 151 Officer) to approve the final capital financing of the capital programme annual spend.

4)    Delegated authority to the Chief Finance Officer (Section 151 Officer) and the Executive Director of Community, Place and Economy, in conjunction with the Deputy Leader of the Council and Lead Member for Finance, Procurement and Performance and the Lead Member for Communities, Housing Revenue Account, Culture and Equalities and Diversity to approve the tenure (social vs affordable rents) of each social housing scheme.

5)    Delegated authority to the Executive Director of Community, Place and Economy and the Chief Finance Officer (Section 151 Officer), in conjunction with the Lead Member for Communities, Housing Revenue Account, Culture and Equalities and Diversity, to acquire dwellings in accordance with the HRA Capital Programme for 2025/26 to 2029/30 and updated Business Plan 2025/26.

6)    The minimum balance for the HRA General Reserves at £5.863m, the equivalent of 10% of revenue for 2025/26 and approximately £600 per property.

7)    To note the updated Medium Term Financial Plan 2025/26 to 2029/30.

8)    To note the updated 30-Year Business Plan in Section 7 and Appendix C.