9  Reporting and Audit Requirements

9.1 General

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

9.1.2 Initial sales monitoring is an additional stage in the capital funding process and applies to shared ownership products. Initial sales monitoring has two functions:

• to provide the Agency with information RSLs' marketing performance;
• to enable the Agency to monitor rent and service charge data at the point of sale. 

9.2 Scheme Information

9.2.1 Following practical completion/ final Grant payment, RSLs will input initial sales data into IMS as the sales take place.

9.2.2 The Agency will send out an automatically generated reminder to RSLs (on a quarterly basis) where initial sales records are incomplete.

9.2.3 All sales must be recorded on a CORE sales log.

9.2.4 RSLs must record information on each application for monitoring purposes. For each completed sale with this information must be provided alongside the grant claim on completion. This information is required to enable the Agency, for each allocation and generally, to report on progress of the New Build HomeBuy programme and monitor the types of assistance required and amounts of subsidy provided. The information required on each sale and collected through IMS will include:

• name of applicant(s)
• the eligibility criteria 
• name and type of key worker where key workers are purchasing 
• ethnic origin
• gender
• declared disability (if any)
• length of time in their occupation
• the employer (e.g. Health Trust, Police authority, LEA)
• place of work (e.g. name of school/hospital) 
• sponsor local authority (the local authority area where the purchaser is employed)
• location local authority - LA area of purchase
• the property address
• value of property
• property type
• number of bedrooms
• name of lender 
• mortgage/equity loan required
• HomeBuy Agent’s equity loan ( value and percentage)
• total household income
• date of completion.

 
RSLs may also be required to provide further management information direct to HomeBuy Agents,  DCLG and the Homes and Communities Agency and complete a CORE sales log .

9.3 Supporting Documentation

9.3.1 For details see Procurement & Scheme Issues sec 8.4