Funding sources

Rent accounts for the very vast majority of our annual income.  On top of rents we receive grant money from Glasgow City Council to adapt residents’ homes (in response to a medical condition).  The grant covers the cost of the adaptation work, and we receive an allowance of 10% (of works cost) for admin expenses.  We expect to have an adaptation budget for of approximately £20,000 for 2020/21, so that should ‘bring in’ about £2,000 in allowances.  

Our income is sometimes augmented by grants that we get to fund projects, and interest accrued from investments.

In 2020/21, we have budgeted to receive £3,246,461 in rental income.  We have received £27,950 in Supporting Communities Grant (which was spent on helping tenants tackle the effects of COVID-19), and we have applied for a grant of near £25,000 from the Scottish Government’s (COVID-19) Recovery Fund; which will also be spent on our residents, if our application is successful.   

We have budgeted to receive £3,248,264 in rental income in 2021/22.  At this stage we do not anticipate additional funding in 2021/22 other than around £2,000 in allowances for medical adaptations.