Agenda item

Report of the Cabinet Member Finance and Assets

The Cabinet Member for Finance and Assets said it was his privilege to present this budget, at the heart of which are tenants, residents, and making sure that their homes are safe, warm, and well-managed.  Tenant feedback at the Cabinet Housing Committee had guided priorities, and he thanked everyone on that committee for their hard work over the last 18 months.

Residents are under financial pressure as a result of the high cost of living, and the council must invest to make sure that rent levels are affordable and living standards raised, as well as adding to the affordable housing stock at every opportunity.  This is a steady, sensible plan with tenants at its heart – council housing is not a service, it is a foundation. 

There were no Member questions.

A Member of the Green Group said they were pleased to have participated on Treasury Management Panel and Asset Management Working Group, to learn about decision- making, outside the housing revenue account. There were some tight decisions to be made, but the improvements in disability access and attention being given to keeping people safe and well in their homes is much appreciated.  Thanks to officers for their hard work.

The PAB councillor also appreciated the work done, especially around affordable housing.

The Cabinet Member for Finance and Assets formally proposed the HRA budged proposals for 2026-27 and revised forecast for 2025-26.

In debate, Members made the following comments:

-       as a member of housing committee, it is great to look at the numbers and the changes in movements in support of what the council has been doing and is trying to achieve – this is very much a reflection of discussions at Cabinet Housing Committee about what needs to be done.  As a ‘critical friend’, the committee has seen significant improvements, but also increased costs at times; the money spent reflects what the committee wanted and it is good to see everything coming together; hopefully full implementation of stable processes will create more financial stability.  We are in a good place;

-       it is important to remember there is quite a correlation between areas of town with the highest statistical deprivation and where a lot of council housing stock is situated, and when looking at what we can do as a council to help people balance their budgets, encourage them to consider solar panels, insulation, and other services which will allow them to spend less on heating and more on looking after themselves;

-       as Mayor, he has seen at first hand some of the work that Cheltenham Borough Council Housing, including Enrich and work of the community investment teams,  have done, investing in young people, and making a positive difference to their lives; 

-       it is worth reflecting where we have come from and where we have got to in the last 18 months, since the decision was made that the best way to serve residents was for CBC to take Cheltenham Borough Homes back in house.  20 years before, it was the right thing for it to become an Arms Length Management Organisation; nothing went wrong with it, but times change, and we need to grow and be proud of what we have achieved.  Budgets have increased but not massively compared with what we have actually delivered for tenants. This is about people and their homes;

-       CBC can be very proud of its record for building affordable homes, investing and building in sustainable locations to provide essential homes for people on the waiting lists;

-       it is great to see in the capital programme the breadth of housing tenures that the council is offering, including at Monkscroft, 320 Swindon Road and S106 purchases on the open market, engaging in every way to provide great homes for Cheltenham people;

-       it is also good to see the work being done towards social housing decarbonisation, such as installing heat pumps instead of gas boilers, with the aim of getting as close to the Climate Change and Nature SPDs as possible, reducing the carbon footprint and increasing biodiversity over and above the statutory requirements. 

In seconding the proposal, the Cabinet Member for Planning and Building Control thanked the Cabinet Member for Finance and Assets and whole officer team for presenting the HRA budget proposals.  He was also grateful to the Chair and Members of the Housing Committee for their hard work, which has improved and strengthened the service we deliver.  He repeated that the most important people are the residents and tenants who engage with us, share their brilliant ideas to improve the service, and want to be part of the journey, concluding that this budget is strong and robust, and he is delighted to have the opportunity to second it.

The Cabinet Member for Finance and Assets agreed that this is an encompassing topic. He thanked colleagues for their kind words and observations, saying that the housing revenue account is always a balancing act between creating more homes and investing in existing homes.   He was grateful to the Housing Committee for its valued input, and thanked the finance team and senior officers for their hard work and dedication.  

RESOLVED THAT:

1.            the final HRA budget proposals for 2026/27 shown at Appendix 2 is approved;

2.            a rent increase of 4.80% is noted for social rent homes, affordable homes and shared ownership homes and changes to other rents and charges as detailed within this report has already been approved;

3.            the HRA capital programme as shown at Appendix 3 and the detailed capital programme in Appendix 4 are noted;

4.            the revised HRA forecast for 2025/26 and impact on the HRA balance are noted.

In support:

Councillors Allen, Andrews, Atherstone, Baker, Bamford, Barnes, Barrell, Boyes, Chandler, Chelin, Garcia Clamp, Clark, Collins, Day, Dobie, Foster, Harvey, Hay, Holliday, Horwood, Jeffries, Joy, Lynch, Orme, Pemberton, Pineger, Smith, Steinhardt, Tailford, Tooke, Wheeler, Williams, Willingham.