Value For Money Strategy

Closeddate_range9 Jul, 2021, 3:00pm - 23 Jul, 2021, 3:00pm

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Below we are sharing our revised Value For Money Stratergy, which highlights Our approach and culture of achieving Value for Money and show how our money is spent and optimise the use of our resources.

We would like you to tell us how you feel about this policy, does it explain clearly our goals? Is the language used correct and easy to understand? 

Please see Chapters for more detail on regulations, outcomes and Governance. 

Please click on make a response and tell us your thoughts. Comment on each part or just pick a part that matter the most to you. Or if you don't want to do this online, you can call us on 03332 31 32 33 and ask for Simone Mansbridge who will be able to support you and gather your feedback. Either way, we really want to hear from you. We really want to know if our strategy and objectives make sense, and if they focus on what matters to you, our customer.

                                                                                                                                                                           

  1.         Purpose

1.1

 

 

The focus of Connexus Homes Limited is to provide high-quality affordable housing to the counties of Herefordshire and Shropshire through development of new affordable homes, maintenance and improvement of our existing homes and the development of associated services to enhance the lives of our customers and communities.

 

1.2

 

 

 

 

1.3

As a consequence of the Group reorganisation in April 2021 further rationalisation took place, in particular the closing of several subsidiary entities resulting in the following Group structure;

1.4

 

 

1.5

 

 

 

 

 

 

 

1.6

 

 

Our approach and culture of achieving Value for Money is to ensure our money is spent well and we optimise the use of our resources.

 

VfM is a specific standard within the regulatory framework. The standard was revised in April 2018, the Regulators expectations of Registered providers is;

 

  • Clearly articulate their strategic objectives
  • Have an approach agreed by their Board to achieving value for money in meeting these objectives and demonstrate their delivery of value for money to stakeholders
  • Through their strategic objectives, articulate their strategy for delivering homes that meet a range of needs
  • Ensure that optimal benefit is derived from resources and assets and optimise economy, efficiency and effectiveness in the delivery of their strategic objectives.

This strategy sets out how Connexus will deliver VfM across all services over the next three years providing a return to our Customers and our wider stakeholders. This is underpinned by careful financial management and good governance building on a culture of strong performance management and continuous improvement.

2.   Financial Objectives - see chapter 

3.    Governance - see chapter 

4.    Value for Money Metrics - see chapter 

5.    Regulation - see chapter 

 

6.    Approach

6.1  Connexus has designed a delivery approach to VfM, this methodology maintains the strong governance arrangements in place when delivering against the Corporate Plan Objectives;

7.    Specific Outcomes - see chapter 

8.    Communication

8.1   The VfM Strategy will be communicated to customers, colleagues and stakeholders. This will be accessible on the website, intranet and a VfM statement included within the annual statutory accounts.