Quote:
Originally Posted by Neil
Graham, how the hell could the Council Housing be £22 million in debt? Surely the house rent pays for everything for the houses? If not why are the rents too low?
Sorry about all the questions but I can't understand how that could happen.
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The HRA loans were around £22m, might have been £23m when the were repaid. No idea how it was that. Presume previous Housing schemes???? Might have been from some of the 70's builds as the loans were generally taken over 40-60 years? Need to check back for a proper answer.
Your referring to the HRA account (like a current account as opposed to the loans account). That has a surplus on close of around £450k. That has now gone into the Council's coffer's this year and a reason for the healthy accounts though it was tenants money. Part of the transfer agreement.