Housing Association Surpluses (2)

Meeting: 
MQT on 2014-12-17
Session date: 
December 17, 2014
Reference: 
2014/5800
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Further to your response to question 2014-4485, do you know how housing associations which are in receipt of grants from you actually spend their surpluses?  Can you provide a list of the heads of expenditure, for example what percentage of surpluses are used to fund further development, regeneration, maintenance programmes and staff remuneration?

Answer

Answer for Housing Association Surpluses (2)

Answer for Housing Association Surpluses (2)

Answered By: 
The Mayor

The GLA is very active in encouraging housing associations to use their surpluses to build new homes. All housing associations publish their annual accounts showing a breakdown of their overall expenditure for the year.  It should be noted that surpluses include the impact of accounting treatments.  It is therefore not possible to breakdown the expenditure of a surplus and whether this is specifically used to support development, maintenance or staff costs.