Housing NSW funds its operations through rental income, funding
under the Commonwealth State Housing Agreement (CSHA), other
Commonwealth/State government funds, borrowings and interest
income.
The decrease of $48 million in other revenue for 2007/08 mainly relates
to one-off funding received in 2006/07 from the Rental Bond Board ($30
million) and a gain on disposal of assets held for resale ($13 million) in
2006/07.
The increase of $45 million in repairs and maintenance in 2007/08 relates
to the proposed implementation of the Maintenance Reform Program across
the state.
The increase of $70 million in other expenses in 2007/08 mainly relates
to additional interest and financing expenses of $7 million; $22 million in
unspent funds carried forward from 2006/07 for various projects/initiatives
under new products and services initiatives; $8 million expenses for affordable housing initiatives from the $30 million received from the Rental Bond Board in 2006/07; $7 million increase in loss on disposal from non-current assets; and $26 million increase in other gains/loss mainly due to AEIFRS adjustments.
Further to the above financial summary, an additional $537.8 million of capital funding was spent in 2006/07.
Commonwealth State Housing Agreement activities described in this publication are funded by the Australian Government and the NSW Government.