Investing in futures

Futures Housing Group

Value for money statement 2016

Delivering value for money really counts for us, our customers and business partners.

This is how we do it.

Efficient & effective for everyone

At Futures, we constantly push ourselves to become more efficient and smarter with our customers’ money.

This concerted effort helped us make £4.8m worth of gains against our target of £3.7m in 2015/16, including £1.65m of savings from pioneering procurement work.

We helped customers save £700,000 through good budgeting advice while our proactive approach to income management helped us achieve all-time record low rent arrears of just 0.83%.

Being smarter with our money, improving how we do business, and eliminating waste helped us increase our annual turnover by £930,000 to £45.8m and increased our operating surplus by more than £1m to £12.2m which will be reinvested in services.

Through Our Futures Way, we will innovatively transform our business to become more efficient and provide effortless experiences for customers.
How we spend each pound
0p
0p
0p
0p
0p
0p

Pionerring procurement

Through innovative procurement arrangements, Futures made £1.65m savings and was selected to be the first company in the world to trial a brand new procurement framework.

Our futures way- a blueprint for improvement

At Futures, providing effortless experiences for our customers is in our DNA.

Opening doors to learning

Part of our vision is to create inspiring futures for our team members, customers and the communities in which we work. This means supporting people into work and training which helps boost the local economy.

To support this ambitious goal, we co-own Access Training, a further education provider, which enrolled more than 1,100 people in the East Midlands on to courses last year.

We helped 15 of our customers enrol onto five special employability courses with Access while eight of our apprentices earned qualifications. Access Training also helped 10 Futures Greenscape employees earn construction qualifications.

We also established a brand new Employability and Community team whose Futures Gateways approach is supporting customers into training, volunteering, apprenticeships, learning and development
0
0%

“I seized my chance to develop with futures”

Ellen Johnson is a shining example of how the partnership between Futures and Access Training can transform the learning and skill of young people in the community.

Branching out to new opportunities

Zak NixonBrown was jobless and claiming benefits but has turned his life around with help from our innovative Branching Out project.

Smarter Spending

Futures has ambitious plans to build more than 1,000 homes by 2020 with a mixture of homes for affordable and private rent, shared ownership and outright sale, giving more choice than ever before to our customers.

We took a huge step to realising this ambition by unlocking £53.5m of funding to boost our development programme and launched a commercial development company, Limehouse, to help drive our private rental homes and outright sales.

As well as building new homes, we are proud of our investment in maintaining our existing stock of more than 9,000 homes while listening to customers to make sure we are improving properties.

In 2015/16, we invested £14.6m in our affordable housing stock, spending an average of £2,152 per property on improvements which included installing 153 Kitchen, 91 bathrooms and 233 rewires as part of our Decent Homes programme.
0%
£0m

We’re going ape over our assets

An innovative system is helping Futures squeeze more from its assets and achieve better value for money for its customers.

Family firm reaps rewards of investment

An eight year relationship with a local supplier has helped Futures get more for its money, while supporting the growth of a family fi rm.

How we are doing

Futures Housing Group was extremely proud to maintain its G1V1 rating from the Homes & Communities Agency in 2016, the highest possible grade for governance and value for money a housing association can achieve.

This followed a ‘deep dive’ inspection which scrutinised our structure, leadership, borrowing, development, risk management, partnerships and how compliant we are with regulations.

As part of our ongoing work to ensure we are flexible and agile enough to meet future financial and legislative challenges, Futures is reengineering its structure, looking at improving what we do and how we do it while striving to continue investing in services for customers.

We publish our accounts each year to ensure we are transparent and honest about our performance and finances.
£0m
£0m

Expert Insight

Through Housemark we benchmark our costs and performance for eight key services against a peer group of 34 similar housing associations. We have no business areas where both direct cost per property and performance are in the lower quartile.

Quality services, high performance

In 2015/16 we saw improvements in our performance in the face of a number of new challenges which affected our business. Take a look.

A glimpse into our future

Futures has serious ambitions to grow, work more closely with existing and new partners, improve what we do and offer more choice to a wider range of people as part of our vision.

Through Our Futures Way, our new and unique way of transforming and working, we’re creating effortless experiences for our customers by making processes work for them.

We’re rolling out better technology and harnessing sophisticated customer insight to enable us to work smarter, more efficiently and more flexibly.

At the same time, a project to introduce electronic document management is underway to help us reduce paper waste and enable our teams to spend more time away from their desks and out with customers.contractors and agencies.
£0m
£0

Digital Working brings savings and improvements

New technology is helping us create a more agile workforce which is able to do more work out in the fi eld without the need for desks in an office.

App aims to make life easier for customers

Our free mobile app will allow customers to manage their rent account, pay bills and report issues all through their mobile device.