Regulation |
Housing Association Regulatory Assessment (HARA)
The new Regulatory Framework for Housing Associations Registered in Wales sets out the Delivery Outcomes to be met by housing associations in connection with their functions relating to the provision of housing, and matters related to their governance and financial management.
The Regulatory Framework describes the principles, approach to regulation and its main features. It requires each housing association to carry out a self assessment which evaluates their performance on service delivery, governance and finance and proposes improvement action.
The Board of Cartrefi Conwy has placed on record its commitment to oversee, inform and influence the self assessment process, generate board-level challenge to findings and take ownership of the results and the improvement priorities identified.
The self assessment is subject to review with the Housing Regulation Team of the Welsh Government’s Housing Division, who then publish the assessment findings.
For governance and service delivery, the annual regulatory assessment report provides
· An assessment of the level of regulatory engagement required over the forthcoming year; that is “low”, “medium” or “high”.
· A brief, robust, narrative evaluation of governance and service delivery focused on outcomes for tenants, service users and communities, and tailored to local circumstances.
Cartrefi Conwy’s Housing Association Regulatory Assessment (HARA) report was published on 16th February 2012 and sets out the areas of focus that will form part of the medium level of regulatory engagement in future.
A full copy of the HARA report can be downloaded here:
In respect of financial viability all registered social landlords with at least 250 units in management are subject to a regulatory financial review and issued with a financial viability judgement (“the judgement”). The judgements fall into one of three categories: “pass”; “pass with closer regulatory monitoring”; or “fail”:
· A “pass” judgement is awarded to an association or group that is adequately resourced to meet current and future business and financial commitments;
· A “pass with closer regulatory monitoring” judgement is awarded to an association or group that is adequately resourced to meet current and future business and financial commitments, but where there are one or more aspects which warrant closer regulatory monitoring to ensure the financial viability remains sound; and
· A “fail” judgement is made where an association or group is not adequately resourced to meet current and future business and financial commitments.
It is pleasing to report that Cartrefi Conwy’s Financial Viability Judgement was a Pass.
A full copy of the Financial Viability Judgement can be downloaded here:
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