Issue - meetings

To update Members on the Housing Revenue Account (HRA) Medium Term Financial Strategy (MTFS).

The Cabinet received a report setting out the Housing Revenue Account Medium Term Financial Strategy up to 2028/29.  The report took account of the growth that was built into the HRA earlier in the year which was approved by Council in July 2024 related to repairs and voids and compliance.

Members were pleased to see detail in the report setting out what the Council was doing in regards to resident engagement and improvements to how the Council was meeting and linking with residents and tenants.

The Portfolio Holder for Environment and Performance requested the support of the Member of Parliament and the Leader of the Council to follow up the Government’s reported ambitions to support a green economy and match and help Councils to deliver on a full de-carbonisation programme.

It was RESOLVED:

1.               That the 2024/25 revision of the HRA MTFS be approved.

2.               that the level of balances for the HRA MTFS be set as a minimum £7Million.

3.               That the Immediate Capital Options proposal to reduce the funding gap, as reported in paragraph 4.15 be approved.

4.               That the Immediate Revenue Option proposals to reduce the funding gap, as reported in paragraph 4.25 be approved.

5.               That the service areas to be reviewed as part of mechanism to identify the remaining savings gap as reported at paragraphs 4.32 to 4.45 be noted.

The Cabinet received a report setting out the Housing Revenue Account Medium Term Financial Strategy up to 2028/29.  The report took account of the growth that was built into the HRA earlier in the year which was approved by Council in July 2024 related to repairs and voids and compliance.

The Portfolio Holder for Housing reminded members of the Council’s commitment to deliver many new Council homes with over 590 delivered so far and more on the way.  She also advised that significant investment was being made into existing housing stock to make sure it was safe, warm and fit for purpose.

Members were pleased to see detail in the report setting out what the Council was doing in regards to resident engagement and improvements to how the Council was meeting and linking with residents and tenants.

The Portfolio Holder for Environment and Performance requested the support of the Member of Parliament and the Leader of the Council to follow up the Government’s reported ambitions to develop a green economy and provide match funding to help Councils deliver on a full de-carbonisation programme.

It was RESOLVED:

1.               That the 2024/25 revision of the HRA MTFS be approved.

2.               that the level of balances for the HRA MTFS be set as a minimum £7Million.

3.               That the Immediate Capital Options proposal to reduce the funding gap, as reported in paragraph 4.15 be approved.

4.               That the Immediate Revenue Option proposals to reduce the funding gap, as reported in paragraph 4.25 be approved.

5.               That the service areas to be reviewed as part of mechanism to identify the remaining savings gap as reported at paragraphs 4.32 to 4.45 be noted.