Our Approach
In addition to the key themes in the Corporate Plan, the Trust developed an Efficiency and Value For Money Strategy (PDF 240KB) in 2008.
The main objectives of this Strategy are:
- To demonstrate that we offer good quality, VFM services
- To generate efficiencies to re-invest in our frontline services
- To improve the efficiency and effectiveness of the services provided to our customers
- To identify, deliver and demonstrate VFM through our procurement of capital works and new development
- To continually strive to procure goods and services smarter
Since the Strategy received Board approval in 2008, much work has taken place to achieve these objectives.
The Trust takes part in a number of 'benchmarking' initiatives which are useful to allow us to compare our performance and costs against others, and learn from best practice. Detail of the 2010 Housemark report is contained in the report on the 'How we compare with others' page.
The Trust has reviewed all of its 'back office' services in the last three years. Savings have been generated in many areas - these are listed on the 'What we have achieved' page. In 2007 the Trust set up a fund to reinvest into frontline services the savings which had been made through efficiencies. To date we have reinvested over £300,000 in new initiatives to improve the lives of our residents. See 'How we've made a difference' for more information.
The Trust has also reviewed the services that it provides to residents and other businesses to ensure that the Trust could provide Supporting People services, additional services to residents, utilities and other services without having to subsidise these from residents' rents. The Astraline service generates returns from its sales to other housing associations - these have been improved by a concerted effort to ensure that contracts are managed effectively and productively, and are reinvested into the Trust's services to its own residents.
