Value For Money Statement 2016 VFM Statement 2017 | Page 22

PERFORMANCE AND COST MANAGEMENT

Accord has benchmarked its performance on a number of operational and corporate performance indicators . The benchmarking cohort of Registered Providers has been selected to ensure comparability with Accord ’ s operations ; notably a reflection of Accord ’ s diversification and commitment to care and support . The findings of the benchmarking process are outlined below and provide an assessment of performance along with management assertions with respect to Accord ’ s commitment to continuous improvement .
Benchmark indicator What does this measure ? Rank * 2017 2016 2015 2014
Social housing lettings operating margin
The percentage of income from lettings converted to operating surpluses
10 ( 8 ) 34 %
34 % 32 % 31 %
Operational indicators
Social housing lettings total operating costs per home
Void losses per home
Bad debts per home
The total cost of managing each social housing home for one year
The total amount of void income forsaken in the year averaged across all homes in management
The total amount of bad debts written off in the year averaged across all homes in management
15 ( 14 ) £ 3,125
6 ( 5 ) £ 86
6 ( 4 ) £ 38
£ 3,067 £ 3,228 £ 3,430
£ 92 £ 83 £ 115
£ 50 £ 15 £ 115
Total asset management spend per home in management
The average investment in each home in management per year
4 ( 4 ) £ 1,133
£ 1,238 £ 1,214 £ 1,351
Return on assets : Turnover ( all activities )
The return on assets expressed as total turnover as a percentage of total assets less grant
7 ( 8 ) 20 %
21 % 20 % 23 %
Corporate indicators
Return on assets : Operating surplus ( all activities )
Income earned per executive officer
Executive costs as a percentage of total staff costs
The return on assets expressed as total operating surplus as a percentage of total assets less grant
The value of income generated averaged across the number of executive officers
The percentage of total cots of the Executive as a percentage of total staff costs .
12 ( 12 ) 4.1 %
8 ( 6 ) £ 14.2m
2 ( 1 ) 2.4 %
4.1 % 3.1 % 3.6 %
£ 13.4m £ 13.9m £ 11.2m
2.4 % 2.3 % 2.4 %
Average interest rate
The average cost of debt being interest paid as a percentage of total debt held
4 ( 6 ) 4.2 %
4.2 % 3.9 % 3.8 %
*( out of cohort of 19 ): vs 2016 data
20 Accord Housing Association