The unlawful spending of money which should have been saved for Nottingham City Council's housing is now predicted to eventually cost up to £51 million. The authority has been under the supervision of a Government board since January 2021 following issues including the collapse of Robin Hood Energy.
Another issue then came about at the end of 2021 when it emerged money from the council's ring-fenced Housing Revenue Account had been incorrectly credited to its general fund since 2014/15, with more than £40 million being misspent overall. The HRA is supposed to be used for the management and maintenance of the council's housing stock.
The council has therefore been having to repay the misspent money back into its HRA. The authority's outgoing finance director now says the cost of these repayments will eventually be up to £51 million.
