Our approach to VFM

Whilst meeting the Value for Money (VFM) standard is very important to demonstrate good governance to stakeholders and the Homes and Communities Agency (HCA), we don’t believe VFM is an add-on, or something that can be achieved as a one-off. Providing VFM underpins everything we do, from performance management to procurement, from business planning to consultation.

Achieving good VFM, and, importantly, being able to demonstrate this to stakeholders needs to be intrinsic to all that we do in our organisation. We remain committed towards the delivery of both existing and future VFM in an increasingly challenging environment.

Value for Money Strategy

Our Value for Money Strategy is subject to an annual review, and was last reviewed by the Board in January 2016. In particular, the Board has:
• Appointed a VFM Champion from its membership
• Made decisions on how resources are used in delivering objectives and considered the trade-offs and opportunity costs of such decisions
• Instilled an understanding of the return on assets and has a strategy for optimising the future return on assets. This includes a rigorous appraisal of the potential options for improving VFM, including the potential benefits of alternative delivery models
• An effective process of scrutinising performance management to drive and deliver improved VFM performance
• A process for understanding costs and outcomes of delivering specific services, to understand why and how the underlying factors influence these costs
• Delivered VFM whilst maintaining good governance and good financial viability. In the delivery of VFM, we have not endangered the security of tenure of our residents, or breached any of our loan covenants, health and safety or HCA regulations
• Maximised the potential of IT in the delivery of VFM
• Delivered the regulatory requirements of the HCA in relation to VFM.

For more information, click here to read our full Value for Money statement

Further information

Documents

TCHA Annual Report and Financial Statements to 31st March 2016 web version

TCHA Annual Report and Financial Statements to 31st March 2016 web version

File type: PDF document
File size: 608 KB

VFM Self Assessment Statement 2015-16

VFM Self Assessment Statement 2015-16

File type: PDF document
File size: 1 MB