Finance

Financial information about the Housing services provided by Stevenage Borough Council in 2016/17

The finances are split into two parts, the revenue account and the capital account.

The Revenue account deals with the day to day running costs of the housing service that are paid for from the collection of weekly rents and service charges. This covers services including the repair and maintenance of
homes, tenancy management, lettings services, and supported housing services.

The Capital account covers the cost of planned maintenance and building new homes. These costs are covered by grants, cash received from right to buy sales and an annual amount called depreciation, which is set aside from income received in the year.

 

For every £1 we receive we use

  • 23p management and support for council houses and tenants. This includes the costs ofFinance-Pound supported housing and managing antisocial behaviour.
  • 16p day to day repairs.
  • 37p contribution to major repairs (such as the decent homes programme) and new houses.
  • 16p to pay loan interest on borrowing. In 2012 the government introduced self-financing for local authorities. In order to keep the income from all of our rents we had to pay £212million to the government. We took out long term loans in 2012 to be able to make this payment.
  • 6p contribution to reserves (for future debt repayments and/or spend).
  • 2p other costs
Spend
Management £10,086,521
Day to day repairs and maintenance £6,908,888
Contribution to major repairs and new build £16,229,915
Payment of Interest on borrowing £7,027,701
Debt repayment 0
Other costs £970,701
Contribution to reserves £2,794,487
Total spend £44,018,213

 

Income
Rents £39,974,996
Service charges £2,823,504
Other income £605,340
Non-dwelling rent £303,630
Investment Interest £310,742
Total Income £44,018,213

How we pay for works
Money from sale of council properties under Right to Buy scheme £1,983,890
Contributions from leaseholders £17,160
Contribution from rental income £5,752,943
Contribution from reserves £11,371,903
Other Contributions £276,283
Total £19,402,179

During 16/17 we saved £378,805 includingFinance-Jar

  • Efficiency savings - delivery re-engineered £252,410
  • Other savings £126,395

(Please note - all of the finance figures are subject to audit)

You said
Improve the grounds maintenance around sheltered homes
We did
Added an extra £65,000 to the budget so that we could do more grass cuts, improve the flower beds and keep the outside areas tidy