Agenda item

Councillor Longley presented a report which set out the Housing Revenue Account (HRA) Final Budget 2024-25 and Medium-Term Financial Plan for West Northamptonshire Council and sought Council’s approval of the HRA revenue and capital budget 2024-25 and sought to set out the future years’ projections to 2028-29.

Councillor A Brown seconded the report.

Council debated the report and made the following comments:

·       The increase would be immense for some residents. However, the recommendations would be supported, or the Council would not be able to borrow to buy additional council houses.

·       Members looked forward to upcoming work on modular houses.

·       A new regulatory regime was coming in and would be focusing on damp and mould issues, repairs, tenancy satisfaction, etc.

At the conclusion of the debate, there voted for the amendments:

Councillors Addison, Alwahabi, Ashraf, Bagot-Webb, Baker, Bambridge, Barrett, Barter, Beardsworth, Chowdhury, Bignell, Bowen, Brown, Chantler, Choudary, Clarke, Cole, Connolly, Cribbin, Davenport, Dyball, J Gilford, Golby, Grant, Hallam, Haque, Harris, Hawes, Herring, Hibbert, Hill, Hinch, Holland-Delamere, Hughes, Irving-Swift, James, Jolley, Joyce, Kilbride, Lane, Larratt, Lister, Longley, Manners, Matten, Meredith, Morgan, Nunn, Parker, Pritchard, Purser, Randall, J Roberts, Sargeant, González De Savage, Z Smith, Solesbury-Timms, Squires, Stevenson, Stone, Sturges-Alex, Tarasiewicz, Warren.

There abstained:

Councillors Clark, McCord.

RESOLVED:

Council approved:

a)    The HRA revenue budget for 2024-25 of £65.49m.

b)    An average maximum rent increase of 7.7% per dwelling, in line with the legislation and the government’s amended national rent standard, to take effect from 1 April 2024.

c)     An average maximum increase of 7.7% in garage rents and commuter surcharges to take effect from 1 April 2024.

d)    An average increase of 7.7% in tenants and leaseholders service charges with effect from 1 April 2024.

e)    The HRA capital programme for 2024-25, noting the future year estimated commitments, and proposed sources of finance.

f)      The total management fee of £84.441m for NPH to deliver the HRA and General Fund services in scope (including capital programme) for 2024-25.

g)    The setting of the working balance at £6m, with the assessed minimum level of £5m informed by the outcome of the latest financial risk assessment.

h)    That authority be delegated to the Executive Director of Finance in consultation with the Portfolio Holder for Finance to transfer monies to/from earmarked reserves and the working balance, should that become necessary during the financial year.

i)       That authority be given to the Executive Director of Finance to update the prudential indicators in the Treasury Management Strategy reported to Council.

j)       That authority be delegated to the Executive Director of Finance in consultation with the portfolio holder for Finance to amend the capital programme for 2024-25 going forward so that it accurately reflects issues such as slippage on current year projects that will need to be added to the programme, any amendments made to existing capital programmes, adjustments to accommodate any future use of capital receipts policy, and for any other reason where the capital programme needs to be adjusted.