A value for money business
Our Value For Money (VFM) Statement 2016/17 summarises the work that we have carried out to ensure we spend the public money we receive as efficiently and responsibly as possible.
The good news headlines are:
- increase in operating surplus of £9million
- efficient procurement of goods and services via Advantage South West procurement club, saving £450k
- £820k of cashable savings (such as bringing PAT testing in-house, savings on printed leaflets, etc.)
- Our maintenance contractor WPS had a turnover of over £6,432k and a surplus of £115,000
- WISE project achieved savings of £98,000
- reduction in rent arrears of £65,925 helping 152 households.
- For every affordable house built we create 3 jobs in the local economy and for every £1 of public investment we contribute £6
- year-on-year reduction in management and maintenance costs (from £4,070 to £3,756 per property)
- achievement of VFM KPIs such as rent arrears and void turnaround times
There are no shareholder dividends; every penny is ploughed back into the organisation so we can continue to provide great services and homes for people with housing and support needs across the south west.