b'CHP financial statements 2020/20212020/2021 2019/2020Value for money Modernisations and improvements 16.9m 16.9m We recognise that focusing on the efficient and effectiveThe Board oversees value for money across the Kitchens 119184use of our resources maximises our social impact.organisation through the strategy, and by: Bathrooms 117172The challenges to achieve carbon Net Zero by 2050,linking the strategy to resources; shortage of affordable homes and customers high cost ofapproving the use of resources through budget and Heating 533528living mean we must ensure every pound of income worksbusiness planning; Electric upgrades 08hard for us. Our aim is to make the best use of our assets to supportmonitoring progress against targets; Wet rooms 218future growth, deliver services that are accessible to ourexamining risks and making decisions to manage and customers and continue to deliver excellent value formitigate them. money. We will do this by achieving a balance betweenWe generate value for money by: Our feedback system gathers opinions from customersThe Board is clear that our customers priorities mustcosts, quality and outcomes. instantly and makes their comments available to the peopleinfluence our improvement work and the way we makeOur group structure allows us to manage our finances andprotecting existing assets through efficient treasurywho deliver the service. The results have been hugelydecisions. Bringing the customers voice alive in this waytaxes effectively, with subsidiaries able to gift aid profits management and tax policies; encouraging. We received a total of 11,107 surveys, means it is heard throughout the business including atto CHP.continually improving services and processes by 91 percent of which were positive.Board level.mapping and enhancing the customer journey; This has created a real step change in transparency and theThe Board approved its Value for Money Strategy in May way we gain insight into our customers experience.2020 as part of our strategic objective to be a strong andusing an Investment Panel to review all new growing business. This was one of the key outputs of thedevelopment proposals; Board Value for Money Working Group, along with definingusing existing assets efficiently to deliver a high our peer group for benchmarking purposes. proportion of new homes without public funds; The Value for Money Strategy sets out five key principlescontrolling employee numbers and remuneration.Customerthat are aligned to our Corporate Strategy and includes an action plan designed to contribute positively to the value feedback surveysfor money metrics. Alongside the regulatory metrics, theSavings and comparative costs11,107 receivedBoard also introduced a new set of bespoke measures andOur team works hard through procurement, service has established targets for these for the year 2021/2022. delivery, training and employment initiatives to deliver more for current and future customers. During the year 2020/2021 a total of 505k savings were recorded. This figure is higher than the previous year, despite the pandemic, as we introduced the first phase of of which has been Achieve our Target Operating Model.91% positive carbonNet ZeroStatement of complianceby 2050In preparing this strategic report, the Board has followed the principles set out in the Housing SORP 2018.Approved and signed on behalf of the Board on 28 July 2021.Nicola Sawford, Chair18 19'