Nottingham City Homes (NCH) has issued a strong denial after an external review into its own finances found it may have wrongly spent £17 million. Nottingham City Council, which owns NCH, commissioned the review into its accounts after it was found £14.367m that should have been spent on council-owned homes was put into the wrong account.
That review has found an additional £8.503m may have been put into the wrong fund by Nottingham City Council, along with £17.158m by NCH from 2014/15 to 2020/21. But in an extraordinary turn of events, NCH has hit back against the review, saying the funding is indeed available for council housing.
NCH has also said "there has been full transparency and accountability to the council throughout". The company has also raised a "number of concerns in the reports", which will be discussed at the council's Executive Board on Thursday (April 28).
