Value for Money
Value for Money Strategy
Cestria Community Housing Association is committed to providing value for money services. Our vision is to be an excellent landlord by being a first rate provider of affordable housing and housing services for the community of Chester-le-Street with tenants at the heart of what the Association does.
We see ‘value for money’ as one of our main priorities and we have developed a Strategy to ensure that we are making the best use possible of our resources by providing a clear, strategic approach to achieving value for money in the services we deliver. This is an essential document linking what we spend and how we deploy our staff with the service standards we deliver, our performance achievements and customer satisfaction.
Value for Money - The 3 E’s
Value for money is about obtaining the maximum benefit from goods and services acquired and provided, within available resources. It involves economy, efficiency and effectiveness which can be defined as:
- Economy - careful use of resources to save expense, time or effort.
- Efficiency - delivering the same level of service for less cost, time or effort.
- Effectiveness - delivering a better service or getting a better return for the same amount of expense, time or effort.
Click here to view our value for money poster.
How do we achieve Value for Money?
Our approach to value for money is to aim to embed a culture in the organisation where Value for Money is considered in every day decisions and service delivery.
We have established a staff and tenant Value for Money Group who meet on a monthly basis. The purpose of the group is to raise awareness of value for money in the organisation, to maximise efficiency savings and to challenge how services are delivered. We record all of our value for money savings in an efficiency register and have a staff suggestion scheme where staff can make suggestions for improvements that will either save money, or will make a process or system more effective or efficient.
Procurement of Goods & Services
We also have an effective Procurement Strategy which sets out which the contracts for supplies and services that will be tendered over the next 3 years to ensure that we are getting the most competitive prices.
Who monitors whether we provide value for money?
It is highlighted in the National Standards set by the Tenant Services Authority that we must demonstrate:
- How we have ensured value for money has been secured and tested.
- Our plans and priorities for delivery of further value for money improvements.
We must also ensure that we have a comprehensive approach to managing resources to provide cost-effective, efficient, quality services and homes to meet tenants’ and potential tenants’ needs.
In addition to these standards we have produced Local Offers in conjunction with our tenants. Our Local Offers in relation to Value for Money can be viewed by clicking here.
We are using Tenant-Powered Performance (TPP) to empower our tenants so you can effectively challenge our performance and service delivery. Click here to find out more information
If you have any suggestions to help us provide value for money to our customers please click here to fill in an online form.
The gallery below shows examples of how we have improved our services to provide value for money to our customers:-