Issue - meetings

Housing Revenue Account (HRA) Budget and Rent Setting Report 2022/23

Meeting: 15/02/2022 - Cabinet (Item 704)

704 Housing Revenue Account (HRA) Budget and Rent Setting Report 2022/23 pdf icon PDF 2 MB

Report of Executive Director (Finance and Resources) to follow

Additional documents:

Minutes:

The Cabinet considered a report of the Executive Director (Finance and Resources) and Executive Director (Housing & Growth) setting out the Housing Revenue Account (HRA) budget and Rent Setting for 2022/23, together with the information necessary to set a balanced budget as required by legislation.  This item was considered by the Policy and Resources Scrutiny Committee.

 

Recommended:

 

1. That an average rent increase of 4.10% on all tenancies, be approved.

 

2. That an average rent increase of 4.10% on shared ownership properties, be approved.

 

3. That an increase of 4.10% for garage rents to £12.70 per week for tenants and £15.24 for non-tenants (being £12.70 plus VAT), a rise consistent with the proposal for the main rent increase (all variants on a standard garage will receive a proportionate increase), be approved.

 

4. That the South Essex Homes core management fee at £6,648,000 for 2022/23, be approved.

 

5. That the South Essex Homes proposals for average increases of 10.88% in service charges, be approved.

 

6. That the South Essex Homes proposals for an average 16.95% reduction in heating charges for sheltered housing tenants and an average 4.42% increase in heating charges for hostel tenants to reflect the actual costs incurred, be approved.

 

7. That the following appropriations, be approved:

 

·       £60,000 to the Repairs Contract Pensions Reserve.

·       £2,978,000 to the Capital Investment Reserve.

·       £8,309,000 from the Capital Investment Reserve.

 

8. That, subject to resolutions 1 through to 7 above, the HRA budget for 2022/23, as set out in Appendix 1 to the submitted report, be approved.

 

9. That the value of the Council’s capital allowance for 2022/23 be declared as £76,915,000 as determined in accordance with regulation 16 of the Local Authorities (Capital Finance and Accounting) (England) Regulations.

 

 

Reasons for Recommendations

 

Part of the process of maintaining a balanced budget for the HRA is to undertake an annual rent review and assessment of other service and facilities charges.  Full Council will need to approve the HRA budget and any changes to rent and other services prior to the start of the financial year.

 

Other Options

 

There are other options available to Councillors in relation to the proposed rent and other services and facilities increases.

 

Note: This is a Council Budget Function, not eligible for call-in by virtue of Budget and Policy Framework Procedure Rule 1.1(b)

Cabinet Member: Cllr Gilbert and Cllr Jones


 

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