accordgroup.org.uk /value-for-money
Key VFM achievements: 2015-2016
Outlined below are some of the Group’s key VFM achievements in 2015/16. The extent and significance of these outcomes demonstrate
Accord’s commitment to delivering value for money in its core services.
Achievement
16
Financial benefit
Non-financial benefit
Rent First campaign to encourage
a positive payment culture and
improve rent collection
Additional income of £167,408
collected.
n Further improved tenant relations
n Improved tenant understanding of
budget money management
n 136 direct debit accounts increased
the amount they were paying
n 80 new direct debits were created.
Improved financial performance
Year on year increases in:
n Operating surplus £4.9m / 29%
n Operating margin: 3.25%
n Overall surplus: £3m / 95%
Insourcing of development and
construction services
Efficiencies against budget of
£2.2m / 9.4% across five insourced
developments.
n These developments use the LoCaL
Homes product which is highly
thermally insulated providing reduced
energy costs for our customers.
n Increased control over developments.
EDRF funded retrofit project
to deliver energy saving stock
improvements
External grant funding of £1,497,000
over three years.
n Reduction of fuel poverty with ongoing
benefits of £12,500 and energy
efficiency improvements of 30% to
over 400 homes
n A reduction of C02 emissions of 4,322
tonnes.
Disposals of properties and the
surplus made from sales
Actual surplus of £965,137.00
(before overheads). Savings made
on not having to complete void
works on sales £58,458.00. Savings
made on the repairs in the year of
sale £15,750.00. Savings made on
assets over average life of tenancy
(average 9yrs) £675,292.80. This is a
total saving of £3,211,637.80
n Helping our customers to move into
home ownership
n Strategic rationalisation of
geographical outlying property.
Accord Group