HRA Self-financing Performance Toolkit

HRA Self-financing Performance Toolkit

Summary

The Housing Revenue Account (HRA) Self-financing Performance Toolkit is designed to provide housing authorities with the means to self-assess their HRA performance against the principles set out in the Voluntary Code for the Self-financed HRA.

HRA Self-financing started in April 2012. Self-financing means local housing authorities can retain all the money they receive in rent which enables them to plan and provide services to their current and future tenants.

Format

Excel

Published

Oct 2013

Author

CIPFA

£600.00

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Housing authorities have responded to the move to self-financing by putting in place formal and comprehensive objectives, policies and practices, strategies and reporting arrangements for the effective management and control of their self-financed HRA.

This toolkit will indicate where strengths and weaknesses lie, and where major risks against the 30 year business plan need better management.

Housing authorities can self-assess performance against these categories:

  1. co-regulation
  2. financial viability
  3. communications and governance
  4. risk management
  5. asset management
  6. treasury and financial management
  7. value for money
  8. stakeholder management, and
  9. housing strategy.

CIPFA recommends that the assessment is undertaken by several people (including officers, managers, tenant representatives (as appropriate) and members. The analyses generated can then be used to discuss different perceptions of performance, as well as agreeing priorities for action to improve performance in the future.

How can the toolkit help?

The toolkit will provide an overall ‘health check’ of the critical parts of the housing service you manage, and can be used as many times as you choose. It will also help to:

  • get an accurate picture of current performance against the principles set out in the good practice guide
  • identify strengths and make decisions on potential risks in the continued delivery of the 30 year business plan
  • make clear actions that need to be taken to improve performance
  • learn about each of the nine performance areas CIPFA has identified for best practice in the day-to-day management of the HRA and its services
  • allow you to obtain recommendations for further support – customised to your needs.

CIPFA recommends that the toolkit is used in conjunction with the Voluntary Code for the Self-financed HRA.