An opposition councillor said it was money that 'could have been utilised, if we still had it'
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.
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.Although around £40 million was misspent, rising inflation means the cost involved in paying this money back has risen.
Clive Heaphy, the outgoing Corporate Director for Finance at Nottingham City Council, replied: "The amount set aside for Robin Hood Energy is pretty well-publicised already at £38m. The total cost of the HRA repayments is going to be in the order of £49 to £51m, that kind of order.
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