All Registered Providers are facing a series of challenges. In
housing policy the impact of the minus 1% rent reduction,
the Housing Benefit capped in the social housing sector to
the level of Local Housing Allowance and the voluntary Right
To Buy have required housing professionals to reassess and
rework financial and service delivery plans to address the
changes. In care and support, there have been further cuts
to Local Authority funding provision and on-going dialogue
with Commissioners suggests this is unlikely to change.
The introduction of the National Living Wage places another
financial duty on businesses.
The Accord Group is well placed to meet these challenges
by understanding the extent of the financial and operational
impact and making plans accordingly, including a viable
financial business plan. This is underpinned by a foundation
of strong existing financial performance with 2016 surpluses
outperforming both budget expectations and 2015 results.
This Board-approved VFM Self-Assessment Statement
provides assurance and evidence that VFM is firmly rooted in
Accord, and also establishes direction of travel for the next
twelve months.
The Accord Group continues to demonstrate strong
governance, cont rol and financial viability and is well-placed
to continue to achieve sustainable growth with efficient
delivery.
Akshay Parikh
Group Chair
Dr Chris Handy OBE
Group Chief Executive
As with all tough environments, there remain opportunities
for organisations with the skills, capacity and ambition to
do more. The Accord Group continues to drive efficiency
throughout all it does and along with its innovative
approaches will continue to deliver new homes, health and
social care and support to local communities.
In doing so, the organisation will insist on demonstrating
transparent value for money to customers, colleagues and
stakeholders. This is led by a highly skilled Board which
understands the challenges and opportunities of the Group’s
operating environment. VFM is embedded across the
organisation through the delivery of the Group Business Plan,
and VFM Strategy on a day-to-day basis by experienced and
dedicated colleagues.
Financial Statements 2016
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