Balancing the books
Poole Housing Partnership Limited (PHP) is a private company, which was set up by Borough of Poole to manage the council's housing.
PHP is paid a management fee to spend on things such as salaries, repairs, sheltered accommodation, estates management, resident involvement and all the other related areas.
The finance team make sure that the service provided doesn’t cost too much and the management fee is spent wisely.
You can break down what we do into the following categories:
Preparing the budget
Each year in October, we prepare the budget for the next financial year. We do this by looking in detail at the areas of spend and predict how this is likely change. All the areas are then combined to produce the budget.
Monitoring what we spend
Each year we set a budget based on how much we predict will be spent.
Monitoring is just keeping an eye on how much we are actually spending.
At the end of each month the managers of each area are provided with information on how much has been spent which is compared to what we thought would be spent up to that point in time. Any differences, either spending too much or too little are investigated to see why and to see if we need to make any changes to how the money is being spent.
All of this is reported to PHP’s committees and Board of Directors so they can see what is going on with the money.
Year end accounts
As the title suggests this is what we do at the end of the financial year. We bring together all the costs and income for the year and compare what we spent against the budget that was set at the start of the year. The results are reported to PHP’s committees and Board of Directors, and also to the Borough of Poole.
Published accounts
As a private limited company we are required by law to submit, to the Government, audited accounts every financial year that PHP is in operation.
At the end of each financial year we bring together all the costs and income for the year and compare what we spent against the budget that was set at the start of the year. The information gathered provides the starting point for the published accounts which we produce. There are specific entries and calculations that need to be made so that we can complete the accounts.
The accounts are then checked by the Auditors to ensure that we are reporting the information correctly. Once audited and agreed they are submitted to the Government.
Links below to the latest and previous published accounts:
Published accounts 2017-2018
Published accounts 2016-2017
Published accounts 2015-2016
Published accounts 2014-2015
Published accounts 2013-2014
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