Acuity can provide a quick, focussed assessment of your approach to VFM and a board/executive briefing, which includes the findings, recommendations and an update on regulatory requirements to help you improve VFM and comply with the HCA’s new expectations.
Since 2016, the HCA’s focus on VFM has extended from an evaluation of the VFM self-assessment to the association’s arrangements for ensuring VFM is delivered. The proposed approach to VFM regulation from 2017 accentuates the importance of embedding VFM. For housing associations with 1,000+ stock, VFM delivery is tested as part of the IDA. Smaller associations don’t get an IDA but the regulatory requirements still apply. It’s likely many smaller associations will want objective, external assurance of their compliance and realistic, practical recommendations of what needs to be improved.
- desk-top review of key VFM documents, eg business plan/VFM strategy, self-assessment, asset management strategy, relevant board reports
- questionnaire focussed on key compliance issues
- follow-up interviews (over the phone or on-site)with key players, eg CEO, Finance Director, Chair, tenant representative
- a presentation to the board and/or executive of the findings, recommendations and a regulation briefing explaining the new expectations and implications for associations
- delivery from Acuity’s VFM expert, Steve Smedley
This product can be flexed depending on what you want out of the exercise.
The cost depends on the final brief, but we would anticipate a minimum of three day’s input. Accordingly, Acuity can undertake this work for a minimum of £1,950 plus VAT and expenses.