Housing Corporation Grant

Meeting: 
MQT on 2007-05-23
Session date: 
May 23, 2007
Reference: 
2007/1044
Question By: 
Dee Doocey
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Following reports that affordable housing money has been allocated from London to other regions what will you do to ensure that London is reimbursed in the future?

Answer

Answer for Housing Corporation Grant

Answer for Housing Corporation Grant

Answered By: 
The Mayor

Like other Government sponsored agency the Corporation works on a resource accounting basis. So it is common practice for the Housing Corporation to move resources between regions at the end of the financial year in order for the agency to meet its annual resource targets. Adjustments are then made at the beginning of the following year to ensure that each Housing Corporation's regional office is compensated appropriately.I have already put in place arrangements whereby the London Office of the Housing Corporation submits a quarterly monitoring report on take up of its allocated resource.