Page 13 - Housing Solutions Annual Report
P. 13
These measures, inevitably, had an impact on The impact on global markets has affected
the performance of the organisation in a number of other areas which are outside of our control,
areas: these include:
• The hiatus in the housing market affected • Valuations of our market rented properties
both sales in the final month of the period provided by external valuers contain clauses
and sales after the year end. In total we completed relating to material uncertainty in relation to those
34 sales in the year compared with a budget of 51. valuations. This in turn, has resulted in additional
This also had the impact of increasing the levels disclosure in our accounts and an emphasis of
of unsold properties on our Statement of Financial matter in the report of the auditors.
Position at the year end;
• MV-T valuations have shown only a minor
• We have amended our budget for 2020/21 to catch increase of less than 1% from those of the previous
up on the planned program work not completed in year end.
2019/20;
• Expenditure on PPE has increased to ensure the
safety of those staff members that do need to enter The principal risks and management of those risks
residents’ properties; are described below:
• To ensure the ongoing financial stability of
business, we furloughed those staff that we were
not able to redeploy and accessed the Government
Coronavirus Job Retention Scheme. The support 2
received from this scheme totalled £82,522.10
10,5,6 4
Impact 1,3
7,8,9
Likelihood
Corporate Objective Impact How it’s managed and mitigated
1. Strong Corporate Failure to resource • V1 G1 Regulatory rating
Foundation adequate funding to meet
development commitments • A+ credit status as allocated by S&P Global
ratings
• Business plan identifies when new funding
is required
2. Remain Financially Impact of political, • Quarterly business plan updates review,
Strong legislative, rental and reviewing economic assumptions
welfare reforms
• Regular stress testing of business plan under
different scenarios to develop contingency
plans, warning triggers and mitigations
identified
• Control of operating costs
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