Social Housing - Property Based

Rent Receivable

- these should all be the current average for the particular business stream. May be different values or not as appropriate. All will be inflated by the assumed inflation rate for the particular business stream.

RPI differential +/- (%) (Rent) - Required for all forecast years. When added to RPI this is the rate at the assumed weekly rentals will be increased. Include "real growth" effects eg due to changing mix, as well as pure rent inflation.

Gross rental income (£000s) - this is required for a reconciliation check on total rent for the business stream.

Average weekly service income per unit (£s) - this current business stream average

Service Income and Charges for Support Services

For both of these items of income the following inputs are required:

Average weekly income per unit (£s) - the current business stream average

RPI differential +/- (%) - the annual rate of growth to be added to RPI. This should include any real growth as well as pure inflation.

Service income and Charges for support services (£000s) - (not level 1 icon) required for income reconciliation purposes.

Revenue Grants

Revenue grants % rental income (%) - the average level of rental support expected for each year of the forecast.

Revenue grants (£000s) - the forecast amount of grant expected for each year of the forecast.

Major repairs grants (£000s) - a direct input for each year of the forecast because not straightforward to model.

Voids and Bad Debts

In relation to both voids and bad debts;

Loss % rental, support and service income (%) - the anticipated percentage loss of rent and other income for the business stream, for each year of the forecast.

Losses (£000s) - the forecast absolute loss of rent and other income for each year of the forecast.

New Housing Stock

Number of units completed during the year (Units) - for the particular business stream. Used for calculating unit-based revenues, costs, capital expenditure and SHG received. For new and reconciled forecasts, years 28-30 should ideally have no new developments since this will adversely affect the multi-period cash flow measures of capacity.

Build cost per unit (£000s) - the current unit build cost for the business stream including any land purchase cost will be indexed at build cost inflation rate.

Land purchase cost [total] (£000s) - for any purchases of land not included in unit build costs. For all years of the forecast where relevant.

Free land at fair value treated as grant (£000s) - the fair value should be entered which will be added to the value of fixed assets and to reserves. If a cash price is paid which is well below the fair value, include the surplus here and the price paid in the land purchase row.

Cash expenditure on new units and land (£000s) - used for a reconciliation check which will pick up any timing differences between payments and unit completions.

SHG received % capital expenditure (%) - the expected grant percentage on new housing development cost for each year of the forecast.

SHG received (£000s) - the forecast amounts of SHG to be received for each forecast year.

Housing Stock Sold (including part units)

Number of units sold during the year (Units) - the business stream total for each forecast year. NB the sale of 47 stakes of 10% would be entered as 4.7. Ideally there should be no disposals in years 28-30 to avoid distorting the multi-period cover ratios.

Sale price per unit (£000s) - direct inputs for each year of the forecast, because there is no obvious model for the likely changes in sale prices.

Cash from sale (£000s) - used for reconciliation purposes

Profit on sale per unit (£000s) - needed to calculate profit on sale and also the book value of sales for Balance Sheet adjustments.

SHG paid back % revenue from sale (%) - the estimated SHG released expressed as a percentage of the sales revenues.

Housing Stock Demolished

Number of units demolished by year end (Units) - the business stream forecast for each year.

Written-down value per unit (£000s) - the average book value of units demolished, needed for every relevant forecast year because of the changes of simply inflating today's typical value.

SHG paid back (£000s) - the estimate for each relevant forecast year of the total amount released and re-paid.

Demolition costs (£000s) - the estimate for each relevant forecast year of the total demolition cost.

Housing Stock Transferred

Number of units transferred in/(out) during year (Units) - required for each year of the forecast.

Effective price per unit (£000s) - required for each relevant forecast year. If the fair value recognised on the Balance Sheet is different, include this surplus (or deficit) under New Housing Stock as "Free land at fair value treated as grant."

Total Housing Stock

Four items are required only for the base year, mainly for Balance Sheet purposes.

Closing stock levels (Units) - the key reference number for the forecast, only required for the base year.

Properties at cost (£000s)

Accumulated depreciation (£000s)

Accumulated grants (£000s)

Expenditure

Annual management costs per new unit (£'s) - the incremental cost per unit

Annual service cost per new unit (£'s) - the incremental cost per unit

Annual care/support costs per new unit (£'s) - the incremental cost per unit

Annual major repairs and maintenance costs per new unit (£'s) - the incremental cost per unit

Annual ongoing costs per new unit (£'s) - the incremental cost per unit

All five items are only required for the base year, and will be inflated for future years.

Capitalised repairs and maintenance costs (£000s) - required for all forecast years, to be added back to the Income Statement and added to fixed assets.

Other

EUV(SH) rent multiple - this will be multiplied by total rental income to obtain an estimate of EUV(SH) value for the business stream. The EUV(SH)/rent multiple should be based on the average of any actual recent valuations.