How we're funded
The majority of our funding for our operating activities comes from rents, service charges and fees. These are paid by our residents and service users. New housing and care developments are funded from a mixture of public grants, loan finance and sales.
We use this funding to deliver our services and activities, in line with our outcomes which are:
- More people live in a decent affordable home
- More people are shaping our communities
- More people are independent and well
- More people can improve their prospects
We are also committed to telling you how we have performed in key service areas. We compare our performance to other housing associations, and this can help us identify how our performance compares and areas for improvement.
How we define Value for Money (VfM)
Value for money is not just about cost reduction, it is about doing the right thing, the right way, at the right cost. Sometimes, we can achieve VfM by spending less, but sometimes we will spend more, for example, to improve processes. Sometimes good VfM is not about money at all, it is about doing things in a new way that make us quicker or more productive.
We use three E’s to guide our VfM activities:
- Effectiveness – are we doing the right things?
- Efficiency – are we doing things the right way?
- Economy – are we doing things at the right cost?
Our Value for Money Framework
Our Value for Money framework is made up of:
- Activities – staff suggestions that help us to implement VfM at all levels in the organisation
- Leadership and culture – how our senior managers ‘live’ VfM through their actions and behaviours and how we embed VfM as part of our culture through our new values and behaviours.
- VFM tools – these will help us to integrate VfM into everything we do such as budgeting, procurement or investment appraisal and benchmarking our work.
- Measurement of our VfM work – we will tell our staff, residents, and partners how we measure the impact of our VfM activities under the 3 E’s and we will ensure that we are meeting our Regulator’s VfM requirements.
Governance of value for money
The Joseph Rowntree Housing Trust Board and Trustees provide strategic direction and leadership on value for money. This is evidenced by board involvement in approving and monitoring the delivery of the business plan and financial performance. Involvement of residents in monitoring costs and service performances is a critical element of our approach to value for money.
Annual report and accounts
JRHT Annual Report to Residents 2019 (4.68 MB)
JRHT Annual Report to Residents 2018 (582.94KB)
JRHT Value for Money Self Assessment 2016 (4.16 MB) - This information is now included within the JRHT Accounts and Trustees Annual Report