Arhag Annual Report 2019/2020

We have determined several VFM objectives based on an honest self-assessment of our current approach to VFM. Essentially this took the form of a gap analysis of the organisation against practice that is widely accepted maximises VFM. Our objectives are as follows: 1. Improve service quality; 2. Provide top quartile business performance; 3. Develop income streams; 4. Reduce costs; 5. Improve procurement; 6. Improve asset management; 7. Embed a VFM culture amongst Board and staff; and 8. Develop tenants’ role in service shaping and VFM scrutiny. Specific areas of workwewill embark upon to see the changes we need to continue to deliver our strategic objectives will include: • Procurement of a major works programme to meet our commitment for safe and quality homes. • A tender programme for the supply of most of our maintenance services through our outsourced business model to enhance service levels and drive down costs. • A review of our social housing costs per unit to improve operating margin. • Working effectively with Local Authorities and other partners to guide residents to available support frombenefits and training to information on local services and activities. • Investment in our people by ensuring all staff are equipped with the right development plans and support that embraces a culture that aligns with our core values. • Continued investment in our systems, IT and data, so that we become a forward-thinking organisation, so our residents directly benefit from automated and up-to-date services, and our decision-making is led with business intelligence. The enhanced health and safety and fire compliance requirements mean that a return to benchmark levels for EBITDAMRI, operating margin and cost per property, will continue to be a challenge in 2020/21. “A return to benchmark levels for EBITDAMRI, operatingmargin and cost per property, will continue to be a challenge in 2020/21.” VFM OBJECTIVES 18 Arhag