North Lincolnshire Homes, part of ongo, has seen its operating surplus increased by £400,000 to £8.5million – a second year high.
In its 2013/14 financial statement, turnover for the 9,700-home landlord stood at £39.8million, an increase of £3.4million.
Meanwhile, operating costs increased from £28million to £31million because we paid a one off amount for retaining all future receipts of right to buy properties from North Lincolnshire Council.
Rent collected by North Lincolnshire Homes during 2013/14 increased by £3.1million to £39million and rent owed increased from 3.1% to 3.9% due primarily to the continued difficulties people are facing in the economic climate.
The Social Landlord held its Annual General Meeting (AGM) today and unveiled its new look Annual Report in the form of a website.
The new website contains information about what the Social Landlord has been up to over the last year (April 2013 – March 2014) including how tenants have been support, how money’s been invested into local communities and savings made which are being passed to tenants.
There are videos, interactive polls and stats for everyone to watch, read and get involved in.
Visit ongo annual report to find out more.
Andy Orrey Chief Executive of ongo said: “A second year high surplus means we are in a strong position going forward with our future plans to continue building new homes, improve others and grow the ongo partnership to support local communities.
“We know this year has been challenging for many people especially with welfare reform and the economic climate which is why we are living our promise of everything we do is put back into local communities.
“The annual report shows what we’ve been up to over the last year and how we are fulfilling that promise.”
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The AGM is taking place at North Lincs Homes headquarters, Meridian House, Normanby Road, Scunthorpe.