Guidance on the operation of Local Authority Housing Revenue Accounts (HRAs) in Scotland

Footnotes

1. Scottish Social Housing Charter

2. The Housing (Scotland) Act 1987 is relevantly amended by the Housing (Scotland) Act 1988, the Leasehold Reform, Housing and Urban Development Act 1993, and the Local Government etc. (Scotland) Act 1994.

3. Local authorities may hold investments in accordance with regulations made under Section 40 of the Local Government in Scotland Act 2003. The Local Government Investments (Scotland) Regulations 2010 permit local authorities to make investments subject to them gaining the consent of Scottish Ministers. The Regulations came into force on 1 April 2010. Finance Circular 5/2010 provides the consent of Scottish Ministers and sets out the requirements attached to the consent when local authorities make investments. Schedule 16, paragraph 2(1) (g) of the Housing (Scotland) Act 1987 provides a specific reference to carry investment income to the credit of the HRA.

4. Details of SERCOP can be found here

5. The terms 'subjective' and 'objective' have specific meaning in costing terms. 'Objective' is the cost centre which denotes the reasons for expenditure e.g. education. 'Subjective' denotes what resources are actually spent on e.g. employees, support services etc. Departmental and central support costs will inevitably require an element of judgment as to how they are allocated. It is possible that different councils will make different judgments and will therefore allocate some costs differently.

6. The report is published here.

7. The DCLG consultation document listing core, core plus and non-core costs (Annex D) is published here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/8553/1512947.pdf