We know how important it is for residents to feel assured we're providing
Value For Money. We're aiming to achieve a saving of £10 million per year
by March 2020 to invest even more in our services.
In the face of sector austerity, welfare
reform and reducing grants, we made
significant progress this year in reducing
spend and improving Value for Money.
How we manage VFM
Staff and residents are involved in driving
better productivity and efficiency. Our
Resident Strategy Group and residents
Services Panels monitor performance
at a corporate and local level and lead on
scrutiny reviews.
Our Procurement Team help drive
Value for Money across the business.
They're responsible for managing
supplier contracts ensuring we maximise
both cost efficiencies and service
improvement.
Our achievements 2018/19
We'll save an estimated:
¢£500k over the next three years by
switching to a vehicle hire agreement
for our vans. This allows us to return
the vehicles before the end of the
hire period if required with no default
payments
¢£4m over five years by streamlining
our technology infrastructure.
¢£626k over four years on
maintenance materials by signing up to
a national framework that enables us
to get the best deal through collective
buying power. The framework allows
all members to pay the same price
for the same products from the same
provider, regardless of location or
sector. An added benefit is it includes
an annual rebate for Optivo to reinvest
in our communities.
22 OUR PERFORMANCE
VALUE FOR MONEY
How we spend every pound
Services 8p
Office & management 4p
Staff & related costs 20p
Maintenance 17p
Landlord payment and other costs 5p
Depreciation 12p
Interest cost 14p
Retained surplus 20p
Optivo Annual Review 2018-2019
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