Decision details

To consider and note the draft 2024/25 Housing Revenue Account Budgets and the draft Housing Revenue Account Medium Term Financial Plan.

RESOLVED

KEY DECISION

That the Executive:

a.      Noted the draft 2024/25 Housing Revenue Account Budgets consisting of the Corby Neighbourhood Account and the Kettering Neighbourhood Account as set out in Appendix A, which will be consulted upon with Tenants, which includes:

i)  an increase in dwelling rents for 2024/25 of 7.7% which adheres to the Department for Levelling Up, Housing and Communities (DLUHC) rent setting formula.

b.   Noted the draft Housing Revenue Account Medium Term Financial Plan beyond 2024/25 consisting of the Corby Neighbourhood Account and the Kettering Neighbourhood Account, for 2025/26 to 2028/29 as set out in Appendix B.

c.   Noted the forecast reserves for the Corby Neighbourhood Account and the Kettering Neighbourhood Account up to 2028/29 as set out in Appendix C.

Reason for Recommendations: To ensure that the Council complies with its Constitution in setting the budget for North Northamptonshire.

Alternative Options Considered – This is the start of the formal budget consultation for the HRA and any comments from the consultation will be considered as part of this process.