3. VALUE FORMONEY STATEMENT PERFORMANCE AGAINST REGULATORY METRICS The VfM standard and Code of Practice sets out the requirements for registered providers to publish annual evidence in the financial statements to enable stakeholders to understand the provider’s: a) Performance against its own value for money targets and any metrics set out by the regulator b) Measurable plans to address any areas of underperformance, including clearly stating any areas where improvements would not be appropriate and the rationale for this. The suite of VfMmetrics set out by the regulator in a) above is restricted to data derived from the financial statements and regulatory returns such as the Financial Viability Assessment (“FVA”). All metrics are derived from data that is already in the public domain in providers’ own financial statements and the Global Accounts dataset maintained centrally by the Regulator. The metrics include output measures alongside cost data, and measures of the efficiency with which both resources and our assets are utilised. This includes the degree of investment to existing stock as well as new supply. 32 ARHAG
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