Agenda item

11.1

The Director of Housing and Neighbourhood Services introduced the report which provided Members with an update on the budget setting process for the revenue budgets within the remit of the Housing Policy Committee. It specifically set out details of the pressures facing the Housing Policy Committee in 2024/25 and asked Members to consider how to mitigate those pressures in meeting their obligations to recommend a balanced budgetary position to the Strategy and Resources committee. The report also included proposals for endorsing a rent increase for Council tenants to the Strategy and Resources committee and subsequently Full Council in February 2024.

11.2

RESOLVED UNANIMOUSLY: That the Housing Policy Committee:-

1.     Notes the Housing Revenue Account and Housing General Fund savings proposals/mitigations as set out in this report and that they will be presented to the Strategy and Resources Committee as part of the Council’s budget for 2024/25.

2.     Request a further report on the Housing Revenue Account Business plan at their December meeting with details of the full capital and revenue expenditure proposals for 2024/25.

3.     Notes and endorses for onward work by officers the proposal for a 7.7% rent increase for council tenants in line with the government’s Rent Standard and acknowledge that the final decision on council housing rents will be taken at the Full Council in February.

11.3

Reasons for Decision

11.3.1

Members are asked to note the unsustainable financial position highlighted by the medium-term financial analysis presented to Strategy and Resources Committee in September 2023. This report and its recommendations, sets 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 and HGF budget for 2024/25.

11.4

Alternatives Considered and Rejected

11.4.1

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

11.1

The Director of Housing and Neighbourhood Services introduced the report which provided Members with an update on the budget setting process for the revenue budgets within the remit of the Housing Policy Committee. It specifically set out details of the pressures facing the Housing Policy Committee in 2024/25 and asked Members to consider how to mitigate those pressures in meeting their obligations to recommend a balanced budgetary position to the Strategy and Resources committee. The report also included proposals for endorsing a rent increase for Council tenants to the Strategy and Resources committee and subsequently Full Council in February 2024.

11.2

The meeting went into closed session to discuss matters regarding the closed part of the report.

11.3

The meeting was opened back up to formally agree the recommendations outlined in 11.4. Limb 3 of the recommendation was agreed to be amended to add the additional wording of: ‘Notes and endorses for onward work by officers the proposal for’.

11.4

RESOLVED UNANIMOUSLY: That the Housing Policy Committee:-

1.     Notes the Housing Revenue Account and Housing General Fund savings proposals/mitigations as set out in this report and that they will be presented to the Strategy and Resources Committee as part of the Council’s budget for 2024/25.

2.     Request a further report on the Housing Revenue Account Business plan at their December meeting with details of the full capital and revenue expenditure proposals for 2024/25.

3.     Notes and endorses for onward work by officers the proposal for a 7.7% rent increase for council tenants in line with the government’s Rent Standard and acknowledge that the final decision on council housing rents will be taken at the Full Council in February.

11.5

Reasons for Decision

11.5.1

Members are asked to note the unsustainable financial position highlighted by the medium-term financial analysis presented to Strategy and Resources Committee in September 2023. This report and its recommendations, sets 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 and HGF budget for 2024/25.

11.6

Alternatives Considered and Rejected

11.6.1

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