Orbit Housing Group

Value for Money – Action Plan

Action Previous actions/current positions Future Actions Who

Identify assets which have high The asset management strategy When these properties become void Exec Team management and/or identifies “amber” properties that we will consider their future. As a when properties maintenance costs that could once they become vacant we should become void be disposed of to use in the consider selling them and development of new assets that reinvesting the funds in new generate a better return properties Greater HCA freedoms allow greater Identify high value properties which Asset Manager active asset management could potentially be disposed when September 2017 vacant and will generate the resources to provide replacement assets on a greater that 1:1 basis Dorset and Calne properties have Undertake a stock rationalisation Operations Director been identified as being outside our review to cover these properties and June 2017 core area any other that should be considered for potential disposal. Ensure that our services are We benchmark our costs and service 2016/17 comparisons to be submitted Finance Director delivered efficiently delivery with other small and compared. July 2017 organisations in the South West We keep a running total of value for Monitor value for money savings Exec Team money savings throughout the year throughout 2016/17 Monthly and discuss each Exec Team Meeting

SWHS/VFM/ACTIONPLAN/V1.0 Page 1 of 3 Action Previous actions/current positions Future Actions Who

Monitor unit costs and VFM We identify unit costs within the Produce unit cost information to be Finance Director indicators Management Accounts and maintain included in the Management Accounts Quarterly information on indicators for Revise unit cost calculations to include Finance Director benchmarking returns HCA CPU indicators July 2017 Produce a value for money Value for money statements Produce the value for money statement Finance Director statement for publication by produced for 2014/15 and 2015/16 for July 2017 July 2017 September each year To assess the return on our Included on the 2015/16 Statement Breakdown the return on assets by Finance Director Assets and be clear where we of Accounts and posted onto the scheme June 2017 are investing our surpluses website To ensure that procurement The Society has a procurement Review the procurement strategy in Finance Director processes are in place and we strategy in place. All major contracts September 2018 September 2018 achieve value for money are subject to tender or external review The Benchmarking group has Identify opportunities for shared Executive Team collected information from members working November 2017 to ascertain appetite for sharing services. Partnering arrangements for new build Chief Executive contracts to be considered September 2017 Deliver 5% savings against A VFM log has been put in place with Maintain the VFM log to show delivery Executive Team projected surplus savings of £33,000 being identified of target savings March 2017 in 2015/16 Provide access to services New web site launched in March Allow tenants to access their rent Finance Director/ digitally 2016 accounts via our web site Corporate Services Manager March 2017

2 Action Previous actions/current positions Future Actions Who

Review treasury management Identified restrictive gearing Report to board in January 2017 Finance Director strategy covenants as part of stress testing January 2017 exercise in May 2016. Treasury Management Review Completed in October 2016 Allow agile working for visiting Facility to remote work put in place Provide equipment to visiting staff to Corporate Services staff in February 2015 enable them to access SDM and all Manager tenancy documents March 2017

SWHS/VFM/ACTIONPLAN/V1.0 Page 3 of 3