1. VfM – The English Perspective
Caroline Moore
Executive Director of Finance & Corporate Services
Yarlington Housing Group E:
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2. Agenda Brief Overview of Yarlington (Recent) History of VfM in England
VfM Self-Assessment Statement
Yarlington’s Approach
Key Initiatives
What have we learned?

3. Who is Yarlington? Stock transfer in 1999
Around 10,000 units based in the South West
Development programme of 250 units pa
Simple group structure, stable management
Simple funding structure
Recent credit rating – A2 Moody’s
VFM compliant

4. (Recent) History of VfM in England
Annual Efficiency Statement (AES) – 2005
Operating Cost Index – 2008
VfM Standard – HCA Regulatory Code 2011
Annual VfM Self Assessment Statement – 2012/13

5. VfM Self-Assessment Statement
Robust approach to making decisions, or use of resources
Understand return on assets and strategy for optimising returns
Have performance management arrangements to drive improvements
Understand the costs and outcomes of our services

6. Yarlington’s Approach
Overall viability strategy – 2011
VfM Strategy or plan?
Raise awareness, embed the culture
VfM Log and report
VfM targets

7. Key Initiatives ‘Service Evolution’ Responsive repairs Procurement
Benchmarking
Optimising return on our assets
Understanding our costs and value

8. Benchmarking Not just Housemark! Targeted operationally Financial
Development
Salary levels

9. Optimising return on our assets
For customers
Financially
For social value
[Need to improve on environmental]

10. Understanding Our Costs + Value
Not ‘Finance’s responsibility’
Segmental reporting
Understanding the costs of each activity
Baselining project
[long time coming]

11. What have we learned? Difference between cost + value
Close link to understanding KPIs
Wider sense of return on assets
An art, not a science!

12. VfM – The English Perspective
Thank you Any Questions?