We are proud to launch our Value for Money (VFM) Annual Assurance Statement 2015/16. Providing VFM is an essential part of everything we do, whether it’s recruiting the right people, delivering better services, getting the best deals from suppliers or working jointly with partners and groups.
Our VFM Annual Assurance Statement shows how VFM is embedded into our business, to ensure we deliver our agreed priorities in the most cost effective way.
Over the past 12 months we have achieved a lot and enjoyed successes such as being recognised as one of Europe’s best businesses receiving the EFQM Excellence Award and being shortlisted for the Business in the Community Award for our WDH Academy, Cash Wise and Work Placement Projects.
Highlights of our work in 2015/16 include investing £28 million in building and acquiring 356 new homes across the Yorkshire Region and creating £4.9 million in efficiencies that is re-invested into our communities.
In 2015/16 our costs per property for responsive repairs reduced by almost £40 to £376.13 from the previous year and 86% of customers surveyed told us they think their rent provides value for money, which is a 2% increase on last year. The number of complaints received has reduced from 39 in 2014 / 2015 to 27 in 2015 / 2016, which reflects the satisfaction with our services. Although our former tenant rent arrears are comparatively high, we have introduced a new team and write-off policy to help improve performance.
Antisocial behaviour is a priority for our tenants and our higher than average spend per property reflects this, however we have reduced the average cost per property as well as cost per case. In 2015 / 2016, we built and acquired 356 new homes, which is more than previous years, but we know this still needs to increase.
We set ourselves ambitious targets every year to maximise VFM in everything we do. This VFM Annual Assurance Statement has been launched following consultation with our tenants. You can have your say on what value for money means to you through our VFM feedback form.