2007/8 Income & Expenditure
Income from lettings £’000
|
2008 |
2007 |
2006 |
| Rent |
2,965 |
2,858 |
2,766 |
| Service Charges |
185 |
188 |
194 |
|
3,149 |
3,046 |
2,960 |
| Rent losses from voids |
(41) |
(33) |
(25) |
|
3,109 |
3,013 |
2,935 |
| Other Income |
331 |
448 |
21 |
| Total Income from lettings |
3,440 |
3,461 |
2,956 |
Expenditure on lettings £’000
|
2008 |
2007 |
2006 |
| Management |
795 |
892 |
820 |
| Routine & Planned Maintenance |
867 |
915 |
841 |
| Major repairs |
1,259 |
749 |
764 |
| Services |
198 |
168 |
158 |
| Business Development & Admin |
111 |
130 |
113 |
| Rent losses from bad debts |
15 |
17 |
27 |
| Depreciation |
104 |
109 |
99 |
| Total Expenditure on lettings |
3,349 |
2,980 |
2,822 |
Surplus £’000
|
2008 |
2007 |
2006 |
| Operating surplus on lettings |
91 |
214 |
134 |
| Sale of properties |
486 |
577 |
498 |
| Interest payable/receivable (net) |
(278) |
(224) |
(203) |
| Exceptional item—write off of VAT debtor |
- |
- |
- |
| Tax payable net of grants |
1 |
(78) |
(151) |
| Surplus for the Year |
300 |
489 |
278 |
| Transfer from/(to) major repairs reserve |
62 |
0 |
0 |
| Transfer to revenue reserves |
362 |
489 |
278 |
Directors Emoluments £
|
2007 |
2007 |
2006 |
| Aggregate Emoluments paid to or receivable by the Chief Executive and Directors |
268,058 |
329,533 |
237,042 |
| Emoluments paid to the Highest Director (Chief Executive) excluding pension contributions |
78,466 |
74,642 |
72,974 |
The Chief Executive is an ordinary member of the pension scheme and there are no additional pension arrangements. During 2006/2007, the special terms that had previously applied in accordance with contractual terms and conditions ceased and a single top-up contribution payment of £78,330 was made in respect of the past service liability for which Schedule 1 Special Determination was granted by the Housing Corporation. Excluding the single top-up payment, a contribution by the RSL of £8,963 was paid in addition to the personal contributions of the Chief Executive.
Directors are defined as the members of the Board, the Chief Executive and any other person who is a member of the Senior Management Team or its equivalent.
Expenses paid to Committee members within the group in the year amounted to £4,756 (2007: £6,595). Expense paid to Committee members within the Company in the year amounted to £3,269 (2007: £5,073)
