Value for money
Across all of our activities, we aim to generate efficiencies and savings in order to maximise our surpluses.
We use our surpluses to subsidise the provision of new homes and to improve existing homes and services.
Every year, we undertake an annual value for money self-assessment to evaluate our performance against the standards set by our regulator, the Home and Communities Agency.
Based on a range of performance and cost information, our judgement is that we comply with the regulatory requirements for value for money, as set out in the Homes & Communities Agency’s VFM Standard, and that we improved our performance in 2016/17.
Our compliance has been demonstrated by the following key achievements set against our VFM objectives:
- Maximising income and the use of the group assets.
- Maximising VFM through a range of procurement and Joint Venture approaches.
- Ensuring efficiency and simplicity across all business activity.
- Working with customers to prioritise investment in services and communities.
- Ensuring managers understand and are accountable for delivering return on investment and that the group has a well-developed culture for achieving and demonstrating VFM.