Quote:
Originally Posted by Retlaw
Gave them away, hoody blell, what right had they to give them to any one, but that does'nt answer the question of the saving in wages, when the staff were transferred as well, we never heard about that, and not long after, britcliffes mob were in the red.
Retlaw.
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Before the stock transfer, the Council had to account for all the wages and other costs relating to Council housing in a separate account together with the rents that it received. This was called the Housing Revenue Account and it had to be kept in balance every year without any subsidies to or from the Council Tax.
When the houses were transferred to Contour, the Housing Revenue Account effectively went as part of the deal, with Contour paying the wages and other running costs, but also getting the rental income.
As for who owns the houses, the Council received a payment of 36 million pounds from the Government for them, so it definitely isn't the Council. This money was used tp repay debt that the Council had built up over the decades building the houses and other buildings.
The 2005/6 Statement of Accounts puts the number of houses at the point of transfer as 3,407.