Agenda item - Budget & Capital Investment HRA Programme 2026-27 and MediumTerm Financial Strategy

That Cabinet:

1)             Approves a rent increase of 4.8% in line with government legislation as detailed in paragraph 3.12 of the report.

2)             Approves a 5% rent increase for all new and re-let tenants, in accordance with the rent flexibility policy as set out at paragraph 3.10 of the report.

3)             Approves the service charges and fees as detailed in Appendix 2 to the report.

4)             Notes the Medium-Term Financial Strategy (MTFS) and 30-year financial projections shown in Appendix 4 to the report.

5)             Notes and recommends to Full Council for approval the HRA Revenue Budget for 2025/26 as outlined in table 1 of the main report and Appendix 1.

6)             Notes and recommends to Full Council for approval the new Capital Programme Budget of £79.640m for 2026/27 be agreed as part of the revised capital budget of £126.339m (which includes reprofiles of £46.699m from 2025/26).

7)             Notes and recommends to Full Council approval of the earmarking of £1m reserves against disrepair claims for 2026/27.

8)             Notes and recommends to Full Council for approval the 5-year capital programme as set out in Appendix 3 to the report.

126.1   Cabinet considered a report that sought approval to recommend the proposed Housing Revenue Account (HRA) revenue and capital budget for 2026/27 as required by the Local Government & Housing Act 1989.

126.2   Councillors Williams, Taylor, Rowkins and Robinson contributed to the debate of the report.

126.3   Resolved-

That Cabinet:

1)             Approves a rent increase of 4.8% in line with government legislation as detailed in paragraph 3.12 of the report.

2)             Approves a 5% rent increase for all new and re-let tenants, in accordance with the rent flexibility policy as set out at paragraph 3.10 of the report.

3)             Approves the service charges and fees as detailed in Appendix 2 to the report.

4)             Notes the Medium-Term Financial Strategy (MTFS) and 30-year financial projections shown in Appendix 4 to the report.

Resolved to recommend:

5)             Notes and recommends to Full Council for approval the HRA Revenue Budget for 2025/26 as outlined in table 1 of the main report and Appendix 1.

6)             Notes and recommends to Full Council for approval the new Capital Programme Budget of £79.640m for 2026/27 be agreed as part of the revised capital budget of £126.339m (which includes reprofiles of £46.699m from 2025/26).

7)             Notes and recommends to Full Council approval of the earmarking of £1m reserves against disrepair claims for 2026/27.

8)             Notes and recommends to Full Council for approval the 5-year capital programme as set out in Appendix 3 to the report.