6 Reporting and Audit 

6.1 General

6.1.1 RSLs must maintain accurate and complete records of KWL transactions both for reporting and audit purposes.  This section sets out the requirements. 

6.2 Monitoring and Evaluation

6.2.1 RSLs, which receive an allocation for KWL, will be required to collaborate in research commissioned by DCLG/Homes and Communities Agency into the impact, effectiveness and value for money of KWL. They will also be required to participate in CORE and complete CORE Sales logs.

6.2.2 RSLs will be required to provide both the DCLG and Homes and Communities Agency with the required monitoring data as required, which may be subject to change during the life of the programme.

6.2.3 In addition to the information supplied via the Agency's IMS, Equity Loan Provider/HomeBuy Agents/RSLs will be required to provide further information direct to DCLG or the Homes and Communities Agency, for example information as required in the Equity Funding Contract and other information as the DCLG and Agency may require from time to time. RSLs will need to provide HomeBuy agents with the necessary information.

6.3 Compliance Audit

6.3.1 KWL schemes will be subject to Compliance Monitoring and Compliance Audit as per Programme Management section 7. RSLs must retain all relevant documentation on file for a period of six years after receipt of funding including the following for KWL schemes:

• copies of all promotional literature and information booklets;
• copies of all leases, covenants and legal charges;
•  copies of all correspondence with employers and sponsoring local authorities;
• Solicitor's correspondence confirming dates of purchase completions and purchase prices;
• copies of desk instructions for RSL staff responsible for prioritising applicants;
•  details of purchasers who have benefited from the scheme in terms of occupation, household income etc.;
• similar details for rejected applicants;
• ethnic origin of applicants and purchasers;
• the RSLs assessment of accepted and rejected applications;
• details of Grant repaid by purchasers on disposal or other event and the treatment of this by the RSL;
• details of any surpluses arising from KWL and the treatment of this by the RSL;
• details of tenants who cease to be entitled and the treatment of this by the RSL.