Decision details

8.1

The report provided an update of the key national and local contextual influences on the development of the Housing Revenue Account (HRA) Business Plan 2023/24. It included an explanation of the legal and financial framework governing the creation of the HRA Business Plan along with an assessment of associated risk. It set the scene for a more detailed exploration of the potential options for delivering a balanced HRA Business Plan to be considered by this Committee in November 2022.

8.2

RESOLVED UNANIMOUSLY: That Housing Policy Committee:-

1.     Notes the HRA Business Plan update and wider national and local influences as described in this report.

2.     Recommends that a further HRA Business Plan 2023/24 report to be presented at the Housing Policy Committee in November 2022 including recommendations around the rent increases for 2023/24, the HRA budget for 2023/24 and savings proposals for 2023/24.

8.3

Reasons for Decision

8.3.1

To optimise the number of good quality affordable council homes in the city;

8.3.2

To maximise the financial resources to deliver key service outcomes for tenants and the city in the context of a self-financing funding regime;

8.3.3

To ensure that tenants’ homes continue to be well maintained and to optimise investment in estates; and

8.3.4

To assure the long-term sustainability of council housing in Sheffield.

8.4

Alternatives Considered and Rejected

8.4.1

Sheffield City Council has a statutory duty to produce an annual balanced HRA budget, which is evidenced by the business plan update, therefore no alternative option was considered to producing this report.