The council is reporting a huge surplus on its housing account.

A report considered this week says,

“The Housing Revenue Account (HRA) opened with a general balance of 10,398k and the year end position identifies an underspend of £1,491k resulting in an increase in the overall HRA balance of £413k.

There are a number of underspends across the HRA within repairs and maintenance, general management and sheltered housing.

There were further underspends due to slippage within the capital programme and higher than assumed interest on cash balances “

Tenants will be wondering why the programmes to increase car parking provision – like the new off road space at St Stephens Square – have stalled. Clearly money isn’t the issue.

The Council is due to take full control of local housing shortly when the government transfers outstanding (national) debts on Council house building to local authorities.

In return the Council will be able to set its own rent levels and – critically – retain any surplus for investment in existing and new social housing.

It replaces the system run by the last Labour government which saw £5 million a year creamed off the York housing account and transferred to repay debt incurred in other parts of the country.