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Annual Report 2011
Chairman's Report
A General Election and the first change of Government for thirteen years was always likely to lead to changes to the environment within which housing associations like Hightown Praetorian and Churches operate. But, in the event, the main challenges to emerge were all linked to the need to reduce public expenditure to ‘rebalance’ the nation’s finances.
The public expenditure reductions have so far affected Hightown in two major ways. First, by reducing the amount of money available to fund services to people who need care and support and, secondly, by reducing the funding available for new affordable homes.
The first of these changes has had a more immediate effect and we have spent much of 2010/2011 negotiating revised care and supported housing contracts with Hertfordshire and Buckinghamshire County Councils. I am pleased to be able to report that negotiations have now been largely concluded and that we have retained all of our contracts.
The Government remains keen to see the numbers of new affordable homes maintained but the means by which this is to be done has engendered much debate within Hightown’s Board and the sector generally because it involves housing associations raising their rents to 80% of market rents to generate more private funding to replace the cuts in government capital funding for new homes.
The Association has continued to develop during 2010/2011 and remains in a strong financial position. I was particularly pleased to see such excellent resident satisfaction results, including an increase in satisfaction levels in our general needs rented housing from 82% to 86% (which places the Association in the top quartile). At the end of the financial year, we acquired 200 homes in Bedfordshire, Buckinghamshire and Hertfordshire from the Home Group (a national housing association) and will seek to maintain high levels of resident satisfaction in those properties.
The Board has continued to set the direction of the Association by reviewing strategies and policies, scrutinising new projects and existing operations and maintaining good governance. During the year, Alison Steer stood down from the Board after eight years. She was nominated to the Board by St Albans City & District Council and I would like to thank her for her contribution to the work of the Association. I am very pleased that she will continue as a Committee member. We were pleased to welcome Councillor David Poor as her successor. I continue to be most grateful for the unpaid support that Board members give to the Association.
