ASSESSMENTS OF PERFORMANCE
VIABLE - Regulatory Code part 1
For assessments made October 2005 onwards:
The association meets the expectations set out in the Regulatory Code in terms of financial viability
The association meets the expectations set out in the Regulatory Code in terms of financial viability, however exposures exist which make it vulnerable to deterioration.
The association's financial viability is of concern
The association's financial viability is of serious concern
For assessments made prior to October 2005:
The association has a strong financial condition and exposures are comprehensively mitigated
The association has a sound financial condition and exposures are well mitigated
The association has a satisfactory financial condition and exposures are mitigated to an acceptable degree
The association's financial condition is presently acceptable but exposures exist which make it vulnerable to deterioration
The association's financial condition is presently of concern. However, measures are being undertaken which should, over time, address the areas of financial weakness
The association's financial condition is presently of concern. There are specific areas of financial weakness which, if not addressed, may lead to further deterioration
The association's financial condition is poor and viability is in doubt. Urgent action is essential otherwise regulatory action will be likely
The association's financial condition is poor and viability is in doubt. The association is presently under supervision for breach of the Regulatory Code
PROPERLY GOVERNED – Regulatory Code part 2
The governing body gives effective leadership and control, has a wide range of skills and experience and, supported by appropriate governance and executive arrangements, is improving its own performance and that of the organisation
The governing body, supported by appropriate governance and executive arrangements, maintains satisfactory control of the organisation
The governing body needs to take further action to ensure capable leadership and control of the organisation
The governing body does not demonstrate effective control of the organisation. Accordingly the association is in breach of the Regulatory Code
PROPERLY MANAGED – Regulatory Code part 3
The association demonstrates a strong commitment to continuous improvement and to effective and efficient service delivery. Given the context in which it works and the available resources it achieves high quality outcomes
The association generally meets the standard expected given the context in which it works and the available resources
The association's performance is below the standard expected given the context in which it works and the available resources
The association's performance fails to achieve the outcomes specified in the Regulatory Code
DEVELOPMENT with Housing Corporation funding
The association demonstrates a good performance by achieving or exceeding its annual targets, maintaining good progress against targets during the year and delivering quality housing that meets our standards
The association's performance is satisfactory. It delivers housing that meets our standards but has not met all of its targets over the past year. However, the shortfall was relatively small and was caused by circumstances outside its control. The association keeps the Corporation fully informed of problems and keeps its in-year forecasting up to date
An unsatisfactory performance. The association has not met its targets over the past year and must improve [in year performance and forecasting], [overall programme delivery], [the quality of housing]. However the association has worked with the Corporation so that in-year adjustments could be made
An unacceptable performance. The association has failed to meet its targets over the past year and has not kept the Corporation adequately advised of the problems encountered
The association has not received [substantial] Corporation funding in the past year.
