Decision details

Councillor Federica Smith-Roberts proposed the recommendations, which were seconded by Councillor Suria Aujla.

Having been duly proposed and seconded, the Council Resolved to agree:-

1)    The HRA Annual Revenue Budget for 2025/26 as set out in Section 3 and in Appendix A.

2)    The Capital Programme of £304.638m including new additions of £213.587m and budget deletions of £4.738m as detailed in Section 4 and Appendix B.

3)    Delegated authority to the Chief Finance Officer (Section 151 Officer) to approve the final capital financing of the capital programme annual spend.

4)    Delegated authority to the Chief Finance Officer (Section 151 Officer) and the Executive Director of Community, Place and Economy, in conjunction with the Deputy Leader of the Council and Lead Member for Finance, Procurement and Performance and the Lead Member for Communities, Housing Revenue Account, Culture and Equalities and Diversity to approve the tenure (social vs affordable rents) of each social housing scheme.

5)    Delegated authority to the Executive Director of Community, Place and Economy and the Chief Finance Officer (Section 151 Officer), in conjunction with the Lead Member for Communities, Housing Revenue Account, Culture and Equalities and Diversity, to acquire dwellings in accordance with the HRA Capital Programme for 2025/26 to 2029/30 and updated Business Plan 2025/26.

6)    The minimum balance for the HRA General Reserves at £5.863m, the equivalent of 10% of revenue for 2025/26 and approximately £600 per property.

7)    To note the updated Medium Term Financial Plan 2025/26 to 2029/30.

8)    To note the updated 30-Year Business Plan in Section 7 and Appendix C.