Each year we carry out a self-assessment on the four standards to check that we’re still compliant. In any area where we’re not compliant, we work to make immediate improvement.
These are Governance and Financial Viability, Value for Money and Rent.
We’ve been awarded a grading of G1 for governance and a regrading of V2 for financial viability, following an in-depth assessment (IDA) from the RSH.
In awarding us the highest possible G1 grading we have demonstrated to the RSH that we’re well governed and in a strong position to continue delivering on our corporate strategic objectives.
Our V2 regrading recognises that we’re a growing business that has sound financial plans in place to deliver our business plan. It takes into account that we have an ambitious development programme to help meet housing need in the region and that we’ve set aside funds to invest in energy efficiency improvements as part of our strategy to become carbon Net Zero.
We’re committed to making our money work harder for our customers. We have a Value for Money Strategy that puts value for money at the heart of everything we do. We carefully manage the balance between how much we spend, the quality of service this will deliver and the difference this will make to our customers. You can find out more about our Value for Money Strategy and how much we save in our CHP Annual Report 2022-2023 and CHP Financial Statements 2022-2023.
Our shareholders form part of our governance framework. They must always act in the best interests of CHP and the benefit of the communities we serve.
Shareholders are invited to attend our Annual General Meetings to receive accounts and approve Rule changes. Shareholders also have some powers in relation to the appointment of Board members.
Risks are uncertain future events that could influence the achievement of an organisation’s strategic objectives. The impact is calculated considering a balance of the following areas: financial, legal / regulatory, growth, customers / communities, or reputation / trust. We have a Risk Management Framework that outlines our methodology for identifying potential risks relevant to us and sets out the strategy for dealing with them.
To complement this, we have an Assurance Framework which maps internal and external assurance within CHP which we use to demonstrate our defence against our risks.