25th November 2011
Issue two of the London Housing Foundation's Navigator gives an overview of the financial state of the homelessness sector for 2009-2010. Navigator summarises the results of an annual review of the London homelessness sector's financial accounts that is carried out for the Foundation by The Financial Information Company Limited.
This year this review shows an increase in turnover from just under £700 million in 2008/09 to £750 million in 2009/10 and a reduction in surpluses to £15 million as operating costs increase more rapidly.
First indications show a number of agencies implementing expenditure cuts to deal with reduced income in 2010/11 and reviews are being planned with a number of key agencies to assess the financial pressures resulting from recent Government cuts.
Requests have been sent out to those agencies for information on their 2010/11 financial plans and the results will be made available.
The first issue of the Navigator was published in the autumn of 2010. Find out more about Navigator and the Foundation's work in the area of improving financial management within the homelessness sector.