On 15th November the government’s Homes and Communities Agency (HCA) published their latest regulatory judgements on England’s regulated social housing associations’ viability grades, changing some judgements made earlier in 2017.
In reviewing their ‘stability checks’ for registered housing associations it is believed this is a ‘reflection of maturity in approach from the regulator’, recognising that England’s social housing sector is operating in increasingly uncertain and risk-associated market conditions.
In the midst of the challenges that the social housing sector is facing, Brunelcare’s viability ratings remain unchanged, with the charity’s governance grade remaining at G1 and viability grade at V1. This grading affirms that as a registered housing association, providing homes to over 1,500 individuals in the Bristol area, Brunelcare is not over-exposed, has the financial capacity to deal with a wide range of adverse scenarios and has good governance in place to manage risk.
Brunelcare’s Finance Director, Karen Taylor, says:
“We are really pleased that Brunelcare has maintained its G1 (governance) V1 (Financial Viability) status and shows that the HCA remains confident in our financial management and governance of the organisation. At a time where the social housing sector faces many challenges, this is a fantastic result. Sound governance and financial stability are essential in allowing us to do what we do in the community. This is a credit to the Board and employees who work together to ensure that Brunelcare has the highest possible grading.”
Kevin Fairman, Brunelcare’s CEO adds:
“This is confirmation that the work done in recent years by Brunelcare employees and our Board of Directors, around both governance and viability, is paying off and we are delighted in this positive result from the HCA.”