Issue - meetings

To note the report and inparticular the unqualifies audit report.

The Committee received a report from the Chief Accountant on the audited financial statements for Knowle Green Estates (KGE) for year end 31 March 2023. The Chief Accountant advised that on a trading basis, KGE was not in a good position and had made a loss. However, the increase in value of housing stock had given KGE a paper profit of £1.2m.

The Chief Accountant informed the Committee that there had been challenges with the accounting aspect of Bluebox and lack of expertise within the team in operating it. The Chief Accountant further advised that with Centros it could be customised to fit what was required for KGE. The Committee queried whether Centros would replace Bluebox and were advised that Bluebox worked very well as a tenancy management system but there were concerns around resilience relating to Bluebox accountancy.

The Committee identified that the report should state that Corporate Policy and Resources Committee is responsible for oversight of KGE.

The Deputy Chief Executive advised that the Board of KGE had been working with officers at ways to close the revenue gaps and that the Local Authority Housing Fund (LAHF) acquisitions had helped to improve the position.

The Committee suspended Standing Orders suspended and agreed to extend the meeting to 10:30pm.

The Committee resolved to note the report and in particular the unqualified audit report.