Decision status: Recommendations Approved
5.1 |
The report provided the 2023-24 update of the Housing Revenue Account (HRA) Business Plan, including revised priorities and capital improvement plans for 2023-24. The report also set out the 2023-24 Housing Revenue Account (HRA) revenue budget and revenue contribution to capital for the Council housing stock in Sheffield. |
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5.2 |
RESOLVED UNANIMOUSLY: That the Strategy and Resources Policy Committee approves for submission to the meeting of the City Council on 20 February 2023:-
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(1) |
the HRA Business Plan report for 2023-24, as set out in the Financial Appendix to the report; |
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(2) |
the HRA Revenue Budget 2023-24, as set out in the Financial Appendix to the report; |
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(3) |
rent increases for council dwellings by 7% from April 2023, in line with the Regulator of Social Housing’s Rent Standard; |
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(4) |
rent increases for temporary accommodation by 7% for 2023-24; |
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(5) |
garage rent increases for garage plots and garage sites by 7% from April 2023; |
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(6) |
the sheltered housing charge increase by 7% for 2023-24; |
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(7) |
the burglar alarm charge increase by 7% for 2023-24; |
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(8) |
the furnished accommodation charge increase by 7% for 2023-24; |
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(9) |
the Hardship Fund increase by a further £300,000 for 2023/24, to £450,000; and |
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(10) |
no increase to the community heating charge at this time. |
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5.3 |
Reasons for Decision |
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5.3.1 |
This report and its recommendations, set out the scale of the challenge ahead, the limited resources available and the difficult decisions that now need to be taken to deliver a balanced HRA budget for 2023-24. The delivery of a balanced HRA budget is dependent on setting a 7% rent increase for Council tenants as set out in this report. The proposed recommendations:
• optimise the number of good quality affordable council homes in the city • maximise the financial resources to deliver key outcomes for tenants and the city in the context of a self-financing funding regime • ensure that tenants’ homes continue to be well maintained and to optimise investment in estates; and • assure the long-term sustainability of council housing in Sheffield. |
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5.4 |
Alternatives Considered and Rejected |
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5.4.1 |
No other options were considered. The Council is required to both set a balanced HRA budget and to ensure that in-year income and expenditure are balanced. |
Publication date: 23/02/2023
Date of decision: 07/02/2023
Decided at meeting: 07/02/2023 - Strategy and Resources Policy Committee
Accompanying Documents: