Value for money

Ensuring value for money

Providing value for money means being as economical, efficient, and effective as possible in everything we do.

Meeting our objectives

We’ve a duty to you, our customers, to ensure you get value for money from our services and understand where money is spent. We want to make sure the way we spend money matches our objectives:

  • To provide safe and secure homes to meet the housing needs of our current and future customers.
  • To support our customers and communities.
  • To grow our business and continue to be well run, responsible and financially secure.
  • To offer a great employee experience through a People Strategy that drives a ‘Bring Your Best Self to Work’ culture.

We assess our performance against key measures in this report, including showing you how every pound of rent is spent.

We use this information to see where we’re performing well, where we can do better and to be clear about how we reinvest the money we receive from rent payments, bank loans, government funding and grants.

money

Reinvesting savings we’ve made

We achieved £900,000 of savings and additional income in 2022/23.

We’re reinvesting some of the savings we’ve made into a new computer system, which will allow us to manage our housing stock better and provide a better service to customers.

We also carried out 15 lots of procurement activity to make sure we’re getting good value for money for the services we buy in. The total value of new contracts in 2022/23 from this activity was £3.3m.

Over £10m of contracts are set to be procured in 2023/24, including our first major contract to bring properties up to a better energy performance rating. This contract is expected to be over £4m on its own.

The Regulator of Social Housing (RSH) asks us to measure ourselves against nine value for money indicators.

You can find this information in our annual value for money document at www.boltonathome.org.uk/corporate-document-hub

What we’re doing next to deliver value for money

We’re always striving to deliver even better value for money. Targets have been set and measures put in place to improve performance in several areas over the coming financial years and these include:

  • Increase the efficiency of the repairs and maintenance and empty properties services with all savings being reinvested in planned maintenance and property improvement.
  • In order to facilitate and assist the transformation of tenants' lives as well as those of their communities, we will keep making investments in delivering community support services.
  • Continue to deliver non-social housing services that complement our social housing activities, and which break even or make a surplus to reinvest in social housing.
  • Aim to deliver most of our savings target for the next three years from our management costs.