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.
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.
£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.
£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.
£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.
£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
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.