Dáil Éireann Debate, Wednesday - 22 January 2025
739. Deputy Mairéad Farrell asked the Minister for Housing, Local Government and Heritage if there is currently a limit on the amount of surplus funds housing cooperatives may have at the end of a financial year; and if he will make a statement on the matter. [46738/24]
Amharc ar fhreagraApproved Housing Bodies (AHBs) are not-for-profit housing organisations that provide both social and cost rental housing on behalf of the State.
As independent organisations, AHBs are required to adopt the standards for AHBs provided for by the Approved Housing Bodies Regulatory Authority (AHBRA). The regulatory standards, which include financial management and reporting, property and asset management, and tenancy management, are available on the AHBRA website at www.ahbregulator.ie/.
As per the financial requirements set out by AHBRA, AHBs are required to have (1) sufficient income to meet operational payments and debt commitments as they fall due, while maintaining service levels, (2) sustainable cash flows and sufficient liquidity to meet expected future obligations, and (3) adequate financial resources to meet investment requirements of maintenance and capital expenditure obligations as they fall due.
Specifically, financial advice is provided in the ‘Financial Standard - Guidance for AHBs’ document available at www.ahbregulator.ie/app/uploads/2022/08/Financial-Standard-Guidance-FINAL.pdf.
