This is really important to us. We’ve continued to ensure value for money is considered in what we do here at MVH, making sure we get the most out of our resources.
It’s more than just spending wisely, it’s about doing the right things and doing them well.
The Democratic Body, together with Board and our members, agreed 7 Golden Rules which our performance is reviewed against. This year the Democratic Body (who monitors our VFM performance) have confirmed we are achieving Value for Money.
For more information, take a look at our Value for Money report, which you can view here.
The Social Value Working Group has been working with a social enterprise to find out what members value both within their homes and their communities.
During 19/20 they will use the results to set out how we will record social value and feedback our findings to tenants, whilst gathering more information so that our key areas of focus match what matters most to our communities.
Representatives from the Democratic Body and Board members sat and went through the budgets for this year with our Executive Management Team and budget holders to decide how and where money will be spent. They were tasked to find £500,000 of savings but actually identified £542,440 whilst still maintaining services currently provided.
We continued to receive a ‘standard’ Welsh Government rating (the best result we can achieve) from their annual Financial Viability Judgement which confirms that we had adequate resources to meet current and future business commitments.
Over the past year, the Audit Committee (a sub-committee of Board with representation from the Democratic Body ) scrutinised the financial position against the budget set and monitored our loan covenants to ensure compliance with our funders requirements. They have also reviewed our Strategic Risk Register on behalf of the Board and received all internal and external audit reports.