Projected figures for 2013 to 2015 rental income received

1240/5(7412)

WRITTEN QUESTION TO THE MINISTER FOR HOUSING BY DEPUTY J.A.N. LE FONDRÉ OF ST. LAWRENCE

ANSWER TO BE TABLED ON TUESDAY 19th FEBRUARY 2013

Question

Would  the  Minister  provide  the  following  information  for  the  years  2008  –  2012,  and  the projected figures for 2013 – 2016 in respect of the following -

1. rents received from Housing tenants;
2. any other income – separately identifying any classifications of income of £100,000 or more;
3. a reconciliation of the total of (i) and (ii) (by year) to the revenue figures provided in the Annual Business Plans/MTFP for the department;
4. gross and net expenditure in respect of lettings and, where expenditure in respect of lettings includes expenditure in respect of asset disposals, identifying identify the latter separately ensuring that the figures correlate to the Business Plan/MTFP of the relevant period;
5. gross and net expenditure in respect of rent and fee collection, ensuring that the figures correlate to the Business Plan/MTFP of the relevant period;
6. any other expenditure not included above separately identifying any classifications of amounts of £100,000 or more and where expenditure has been reclassified in later years identifying for both the year of reclassification and subsequently the amount that was reclassified ensuring that the total of (iv) – (vi) above correlates to the totals of the Business Plan/MTFP for the relevant period?

Answer

Projections for 2016 are not included as the MTFP does not cover this period. Modelling has been performed for the proposed Housing Association over a 30 year period, the results of which will be published in the Incorporation of States Housing', Report and Proposition and Full Business Case', in due course.

Each of your points is answered in turn below.

1. In  accordance  with  International  Financial  Reporting  Standards  and  UK Generally Accepted Accounting Standards, the Housing Department accounts for rental income on an accruals basis. Rental income as per the Annual Business Plans on that basis is noted below.

2. The Housing Department's other income per the Annual Business Plans is noted below.

*contributions  received  from  Cottage  Homes  residents  and  income  from  parking permits, commercial rents and garages

**utility recharges

3. I refer you to the answer to your question 1240/5(7414) which shows where the above noted income streams are incorporated in the Annual Business Plan.
4. Sales and marketing costs are less than £100k in each year of the Annual Business Plan in question. In accordance with States of Jersey requirements, properties are valued at fair value prior to sale and so no profit or loss is made on properties sold. The remainder of the Housing Department expenditure is in relation to the core activity of letting properties. I refer you to the answer to your question 1240/5(7414) which analyses expenditure as per the Annual Business Plans.
5. I refer you to the answer to your question 1240/5(7414) which analyses the expenditure in relation to rent and fee collection as per the Annual Business Plans.
6. I refer you to the answer to your question 1240/5(7414) which analyses all expenditure as per the Annual Business Plans.