London's Pulse: Medical Officer of Health reports 1848-1972

View report page

London County Council 1920

Annual report of the Council, 1920. Vol. III. Public Health

This page requires JavaScript

133
This deficiency (£145,306 13s. 1d.) being less than the produce of a 1d. rate, will fall to be met
entirely out of the Special County rate. As regards 1 and 2, these accounts are kept generally on the
same lines as similar accounts in the section relating to Non-Assisted Schemes.
Clearance Schemes.—The Capital expenditure to 31st March, 1921, amounts to £2,173 3s. 7d.
representing preliminary expenditure in respect of the Bell-lane and Ellen-street, Ware-street and
Brady-street areas. The Revenue Account shows a credit balance of £13 2s. 8d., due to an
adjustment in respect of establishment charges debited to Revenue Account instead of Capital
Account in 1919-20.

Working-class dwellings.—lhe results for 1920-21 are as follows:—

Dwellings—
In occupation—-£s.d.
Part I.Deficiency48105
Part III.Deficiency2,00694
£2,054199
In course of erection—£8.d.
Part IDeficiency1.925138
Part IIDeficiency8413
2,0091411
Total—Dwellings4,064148
Estates in course of Development—Part III.Deficiency58,78813
Total—Dwellings and estatesDeficiency62,8521511

The transactions for 1919-20 were very small, and no useful purpose would be served by comparing
the results with the above.
It will be seen that the bulk of the deficiency appears under the head of " estates in course of
development," the interest and sinking fund charges in respect of which, less receipts in aid, are shown
in a separate account. This course follows the Council's past practice, and is adopted in order to permit
a clear view of the results of managing completed dwellings. As the work on each estate proceeds, the
. proper proportion of capital expenditure and debt charges is allocated to the account of the dwellings
available for letting, until the total capital expenditure on land and development is entirely absorbed
in the cost of the dwellings.
The gross rental of the completed dwellings for 1920-21 is £7,322 3s. 3d., as compared with
£12 7s. 9d. in 1919-20.
The capital expenditure to 31st March, 1921, amounted to £1,903,033 15s., and the net debt;
including stock, etc., issue expenses, to £2,026,707 15s.
Housing Schemes of Metropolitan Borough Councils.—-Under the Act of 1919, the Council has to
refund to the borough councils the losses, approved by the Minister of Health, arising in connection with
schemes carried out by them under that Act. The Council's Housing Accounts thus show the financial
result of the assisted scheme for London as a whole. The amount payable to borough councils in respect
of 1920-21 (including estimated losses where actual figures are not available) is £63,241. Adding
expenditure of £214 18s. 7d. for establishment charges, the charge for the year under this head is
£63,455 18s. 7d. This figure is subject to revision. Corrected figures which cannot be determined
until the accounts of the borough councils have been audited will appear in the Council's annual volume
of accounts.
Local Bonds (for housing).—The amount raised by this means to 31st March, 1921, was £3,561,940.
Deducting £103,856 13s. 11d. for expenses of issue, the net amount raised is £3,458,083 6s. 1d.
£1,202,742 of this sum has been advanced on loan to the borough councils for housing purposes, leaving
a balance in hand of £2,255,341 6s. 1d., available for future use. In addition, there is a balance of
£1,625 4s. 3d. on the redemption account, some of the money advanced to borough councils having already
been repaid. Up to the present no part of the proceeds of the bonds has been used for the Council's own
capital purposes.
The Minister of Health has agreed to the expenses of issue being spread over a period of 5 years,
and charged to the assisted scheme. The first instalment will fall due in 1921-22, and provision has
been made in the 1921-22 estimates accordingly. The rate of interest charged on the loans to the borough
councils is the same as that payable by the Council on the face value of the bonds, viz., 6 per cent., so
that the instalments in repayment of the expenses of issue and 'the annual cost of management
(£1,398 0s. lid. in 1920-21) fall wholly on the Council's assisted scheme account.
C.—Coal Supply to Tenants.
To meet war conditions accommodation was provided for the storage of coal in bulk, the price
of issue to the tenants being fixed to cover the cost of labour and other expenses incurred in carrying
out the scheme. The scheme has now been discontinued and the accounts will be completed in the year
1921-22.
D.—Well Hall Estate.
By arrangement with the Commissioners of H.M. Works, etc., the Council undertook the maintenance
and management of this estate on certain agreed conditions. The Commissioners have given
notice to terminate the arrangement on 30th September, 1921.
Housing Statistics—Memorandum by the Director of Housing (Mr. J. P. Orr, C.S.I., C.B.E.)
The Council's housing programme under the Housing and Town Planning Act, 1919, provided for
the erection of 29,000 working class houses, in addition to dwellings for 40,000 persons, the estimated
Housing
progress.