The Housing Revenue Account (HRA) Business Plan 2023-2053 for Falkirk Council outlines a 30-year strategy for managing the Council's housing assets, providing affordable homes, and ensuring high-quality services for approximately 17,000 households. Key aspects of the plan include:
1. Financial Management: The HRA is a ring-fenced account, meaning all income and expenditure related to housing must be covered by rent. The plan highlights a revenue budget of £72 million and a five-year capital investment programme of £328 million, primarily funded by borrowing repaid through rent.
2. Strategic Alignment: The HRA Business Plan is aligned with the Local Housing Strategy (LHS), Housing Asset Management Plan (HAMP), and the Falkirk Council Plan. It focuses on improving housing quality, affordability, and sustainability, while addressing challenges such as inflation and achieving net-zero emissions by 2030.
3. Risk and Affordability Management: The plan includes provisions for long-term financial sustainability, with rent increases necessary to maintain investment. A focus on managing costs, improving rent collection, and ensuring tenant support is also central.
If you are interested in finding out more about how the budget is set, please contact the Community Engagement Team, who will be arranging interactive sessions throughout the year.
Please contact the Community Engagement Co-ordinator for additional information:
Last updated: 04 October 2024