Value for Money

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Our Value for Money statement is a self-assessment of how we perform against the Homes and Communities Agency Value for Money standard. It is a regulatory requirement of all registered providers.

Our Board review high-level performance on a bi-monthly basis. The Board seeks assurance where there are areas of under performance, and examines the root cause to understand what corrective action may be required.

Plus Dane also benchmarks its Value for Money performance against a peer group of housing associations who offer similar services to and/or operate in the same geographical area on a cost per home basis.

Efficiencies Overall Plus Dane has made £6m worth of efficiencies in 2016/17 against a target of £2.8m, through a concerted programme to become more efficient in what we do and how we do it.
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Overall, Plus Dane’s social letting costs per unit (home) is £541 lower than our peer group reported last year, and £486 lower than the mid-point of all housing association performance which demonstrates we are delivering against targets set in our Corporate Plan.

Management costs
Plus Dane 2016/17 £906
Peer Dane 2015/16 £1,157
Maintenance costs
(day to day repairs)
Plus Dane 2016/17 £994
Peer Dane 2015/16 £976
Major Repairs
Plus Dane 2016/17 £684
Peer Dane 2015/16 £976
Service Costs
Plus Dane 2016/17 £284
Peer Dane 2015/16 £269
Other Costs
Plus Dane 2016/17 £252
Peer Dane 2015/16 £258
Social letting cost per home
Plus Dane 2016/17 £3,084
Peer Dane 2015/16 £3,625
Neighbourhoods
£1,503,000
Neighbourhoods has made over £1.5m efficiencies through actions including restructuring teams in the directorate, reducing the council tax we pay on voids by speeding up our re-letting process, reduction in utility costs and reducing our housing management contract costs.
Assets
£1,559,000
Assets has made almost £1.6m efficiencies through actions including restructuring teams, a reduction in the running costs of Plus Dane offices and a reduction in the in-house repairs team running costs.
Corporate Services
£2,590,000
Corporate services has made efficiencies of over £2.5m through actions including team restructures, reductions in IT costs, reductions in corporation tax, interest and financing costs and legal costs.
Ellesmere Port & Neston
£369,000
Efficiencies on the Ellesmere Port and Neston Management contract were achieved through a combination of reductions in IT, office and pension costs.

How savings were used

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The savings made as a result of the efficiency planning which took place across the organisation were used to fund a development programme which delivered 93 new affordable homes and 21 new homes for outright sale.

Plus Dane remains committed to ensuring we are as efficient as we can be. Moving forward we will further improve our Value for Money by:

  • Simplifying our legal structure, becoming a single organisation rather than five organisations under a group structure.
  • Using our buying power to ensure we are receiving those products and services we buy for the very best price.
  • Undertaking further restructures in the organisation.
  • Continuing to improve the efficiency of our in-house repairs team.
  • Reviewing our service charges to ensure they are consistent, fair and reasonable.