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Decision details

Housing Revenue Account Business Plan 2023-2053

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


To set out the baseline and consultation planning for provision of the HRA business plan.


Report of the Portfolio Holder for Housing and Planning to present the updated baseline assessment and financial projections for the Council’s Housing Revenue Account (HRA) covering the 30-year period 2023/4-2053/4.  A detailed financial analysis, supported externally, is shown in Annex 1 and incorporates revised budgets and assumptions.




that Cabinet:




Approved the baseline and HRA investment forecast shown at Annex 1;



Endorsed the financial modelling at Annexes 1 and 2, evidencing that the HRA balances in the medium term. But from 2042/43, the longer-term horizon scan shows that the plan is not financially sustainable;




Agreed to consultation with Tenants and Leaseholders on the proposed scenarios around service efficiency to support interventions longer term to balance the HRA budget as shown at Annex 3;



Delegated final approval, of the detail, in the full and summary HRA Business Plan working papers to the Portfolio Holder Housing and Planning, in consultation with the Assistant Director, Neighbourhoods shown at Annex 4;



Approved the creation of a HRA Business & Viability Planning Project within the Social Housing Regulatory Programme to ensure oversight, scrutiny and monitoring of the consultation and progression of the service review opportunities identified;



Delegated Authority to the Portfolio Holder of Housing and Planning, in conjunction with the Council’s S151 Officer, to write to the Department for Levelling Up, Housing and Communities to set out the financial challenges and further impact of government intervention on rent setting regarding the Council’s ability to invest in its stock achieving environmental ambitions particularly around decarbonisation; and



Endorsed continued financial support and modelling with Housing Finance Associates supporting the Council’s HRA business planning, costs met from existing budgets.




(Moved by Councillor S Smith and seconded by Councillor T Clements)




Report author: Tina Mustafa

Publication date: 23/02/2024

Date of decision: 22/02/2024

Decided at meeting: 22/02/2024 - Cabinet

Effective from: 02/03/2024

Accompanying Documents: