HRABP - Draft 8 - Flipbook - Page 6
4 East Suffolk Financial Overview
Total planned capital investment in the Housing Revenue Account (HRA) totals £368m over
30 years. This includes major works on the existing housing stock of £83.8m, redevelopment
of £55.9m, and new developments of £227.3m, and other capital works of £1m. The new
homes programme will deliver 257 new affordable homes by 2022/23 and an estimated
additional 1500 homes by 2047/48, pump-priming investment into the Lowestoft Area
Action Plan (AAP) to deliver a better and more prosperous environment for the community.
Funding for both the major works on existing stock, and other capital works will be through
Direct Revenue Financing (DRF). The new homes programme and redevelopment works will
be funded mainly from reserves and contributions. The balance will be funded from
assumed capital receipts (£52.2m) and assumed RTB sales receipts, Homes England funding
and S106 funding (£20.4m).
£100,000,000
HRA Business Plan Key Variables 2018/19
£90,000,000
£80,000,000
£70,000,000
£60,000,000
£50,000,000
£40,000,000
£30,000,000
£20,000,000
£0
2018/19
2019/20
2020/21
2021/22
2022/23
2023/24
2024/25
2025/26
2026/27
2027/28
2028/29
2029/30
2030/31
2031/32
2032/33
2033/34
2034/35
2035/36
2036/37
2037/38
2038/39
2039/40
2040/41
2041/42
2042/43
2043/44
2044/45
2045/46
2046/47
2047/48
£10,000,000
HRA Debt Cap
HRA Debt
HRA Working Balance CF
Capital Programme
The latest 30-year HRA Business Plan demonstrates that the investment proposals are fully
fundable, subject to the assumptions within the plan, and that the HRA remains a sustainable
and viable entity over the thirty year period.
The Plan takes a cautious approach to investment, remaining well within the Government’s
requirements and currently paying off outstanding loans by Year 26 to be totally debt free.
Subject to future trends remaining on track with assumptions, this approach gives the Council
the opportunity to deal with potentially adverse circumstances or to be able review and
potentially increase its investment in new housing or housing redevelopment in the area at
a future review of the business plan.
East Suffolk HRA Business Plan 2018 - 2048
