Agenda item

7.1

The Director of Housing & Neighbourhood Services introduced the report which provided an update of the Housing Revenue Account (HRA) Business Plan for 2023/24, including revised priorities and capital improvement plans for 2023/24, prior to approval by Strategy and Resources Policy Committee for submission to Full Council.

7.2

RESOLVED UNANIMOUSLY: That the Housing Policy Committee:-

1.     Notes that the HRA Business Plan report for 2023/24, the HRA Business Plan priorities for 2023/24 and HRA Revenue Budget 2023/24 as set out in the Financial Appendix, will go to the Strategy and Resources Policy Committee at its meeting on 7^th February, for recommendation to Full Council for approval;

2.     Notes that once adopted by Full Council, monitoring delivery of HRA Business Plan priorities will be within the remit of Housing Policy Committee and a regular performance reporting schedule will be approved; and

3.     Requests that the following matters be considered by the Strategy and Resources Policy Committee when approving the HRA Business Plan priorities for 2023/24 and HRA Revenue Budget 2023/24:-

                           I.          Maintaining the Stock Increase Programme (SIP);

                         II.          Looking again at how to invest in order to decrease the repairs bill;

                       III.          Looking at the possibility of further investment into retro-fitting; and

                      IV.          Increasing tenant involvement, exploring the option of tenant-led local          housing advisory panels and reporting arrangements with LACs.

7.3

Reasons for Decision

7.3.1

The 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. Members are asked to consider the proposed recommendations to:

·       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 Page 26

·       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.

7.4

Alternatives Considered and Rejected

7.4.1

The Council is required to both set a balanced HRA budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.

7.1

The Director of Housing & Neighbourhood Services introduced the report which provided an update of the Housing Revenue Account (HRA) Business Plan for 2023/24, including revised priorities and capital improvement plans for 2023/24, prior to approval by Strategy and Resources Policy Committee for submission to Full Council.

7.2

RESOLVED UNANIMOUSLY: That the Housing Policy Committee:-

1.     Notes that the HRA Business Plan report for 2023/24, the HRA Business Plan priorities for 2023/24 and HRA Revenue Budget 2023/24 as set out in the Financial Appendix, will go to the Strategy and Resources Policy Committee at its meeting on 7^th February, for recommendation to Full Council for approval;

2.     Notes that once adopted by Full Council, monitoring delivery of HRA Business Plan priorities will be within the remit of Housing Policy Committee and a regular performance reporting schedule will be approved; and

3.     Requests that the following matters be considered by the Strategy and Resources Policy Committee when approving the HRA Business Plan priorities for 2023/24 and HRA Revenue Budget 2023/24:-

                           I.          Maintaining the Stock Increase Programme (SIP);

                         II.          Looking again at how to invest in order to decrease the repairs bill;

                       III.          Looking at the possibility of further investment into retro-fitting; and

                      IV.          Increasing tenant involvement, exploring the option of tenant-led local          housing advisory panels and reporting arrangements with LACs.

7.3

Reasons for Decision

7.3.1

The 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. Members are asked to consider the proposed recommendations to:

·       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 Page 26

·       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.

7.4

Alternatives Considered and Rejected

7.4.1

The Council is required to both set a balanced HRA budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.