5 Reporting and Audit 

5.1 General

5.1.1 RSLs must report annually on the Fund, and must maintain a clear audit trail on all transactions involving the Fund.

5.2 Annual Review

5.2.1 RSLs must send the Agency an annual return on the Disposal Proceeds Fund.  This is a national return, and must be sent to the Agency no later than 30th June each year. 

5.2.2 For Guidance, click on the asterisk.  

 

5.2.3 As part of the on-line submission, an RSL certifies that it has complied with the procedures for RTA, SHB, VPG and the administration of the Fund. RSLs must require their external auditors to include the operation of the DPF in their annual audit of the association, to allow this certification to be made. 

5.2.4 A print off of the return should be copied to each local authority in which proceeds arose or were spent.

5.2.5 Upon completion of the actions required regarding the previous year’s returns, the Agency will notify RSLs in writing of the closing balance of that return. This figure must then to be used as the opening balance for the subsequent year’s return.

5.3 Triennial Review

5.3.1 The Agency will carry out a 3-year review of the use of the Fund and thereafter monitor it annually.

5.3.2 In the event of disposal proceeds being unspent at the end of a review period, the Agency may recover the proceeds for recycling through the NAHP.  Click on the asterisk for guidance notes.  

 

5.4 Social Homebuy

5.4.1 RSLs will be required to provide information as to the use to which these proceeds have been put. Accordingly internal monitoring processes should be set up that will enable the proceeds arising from the sale of a property through Social HomeBuy to be tracked and accounted for within the DPF.
 
5.4.2 Although we will not be requesting individual annual DPF returns for each sale, it is likely that RSLs will be required to demonstrate in due course how the proceeds have been uses, particularly in the pursuit of relieving homelessness and overcrowding. The DPF chapter of the guide will be updated in due course to identify the exact data that will be required.