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SDS Catalyst
Annual Members’
Meeting
Friday, 8th August, 2014
Agenda
10.30 Arrival & Coffee 11.00 Introductions & Review of 2012-2013 Results 11.30 Future changes - 1st April 2015
12.30 System Housekeeping
• Timetable • Pricing
12.40 Open Discussion 1.00 Lunch
We were terribly late….!!!
2012-13
While we’re apologising ….
Current known issues o Saving issue – IE Version 11 – some code disabled by MS
o Password saving – refer to SDS if password changes required
o Server clock faulty – saving affected – resolved but some previous schemes still affected
2012-13
Catalyst Reports
1. Annual Peer Group Report
• Full report on peer group
• 31 members out of 45 submitted a full set of data (70%)
• 1,298 schemes submitted
• 10,205 units
More schemes but fewer units than last year
• 25,821 NB units developed by all
organisations, Catalyst = 40% of total
2. Your Results Report
• Executive Report + Detailed Results
• Focuses on your data alone
• Shows trends
• Appendices identify schemes
which create the KPI
Your Results
3. Expert Commentary
• Expanded Your Results Report
• Identifies strengths &
weaknesses
• Useful for boards/committees
• Optional
Expert Commentary
Your Results
Executive Summary
• Top level view
• Comparison to peer group
New This Year
• Simplified scheme timing – NB A&W schemes only, Acq to PC
• Expanded sales timing – average time for selling SO and OMS
• Introduced new PI for defects arising during the DLP
• New PI for conversion of target rented stock to affrodable rented
• Dropped PIs for Lifetime Homes and Form of Construction
Your Results
Appendices
• Format as last year
• 7 Appendices
• 3-year trend analysis
• Identifies the schemes contributing to your score
Internal Subsidy
• Internal subsidy G15 down from £23k last year to £6k. • L&SE down from £27k to £11k this year. • Other down from £12k to £9k this year. • Dramatic reduction – effect of higher rents and fewer target rented properties than the previous year?
Gearing
Results
Affordable Rent Shared Ownership
Peer
Group
Gearing
%
Last Year Gearing
%
Last Year
G15 66% 59%
L&SE 72% 77%
Other 76% 68%
Average 70% 66% 64% 63%
Stock Conversions & Size of
Programme 2012-13
Results
Peer
Group
Conversion
to AR as % of
rented stock
owned
AR units
developed
divided by
conversions
All units
developed
divided by
rented stock
owned
G15 0.7% 3.5 4.8%
L&SE 1.0% 1.7 8.7%
Other 1.8% 2.8 9.0%
Average 0.8% 2.5 5.8%
New Build Acq & Works Cost
Results
o Based on fixed benchmarks
o Adjusted for location & build type
o Works cost
• Average £1,581 per m², 3% up on last year
o G15: 2% higher
o L&SE: 5% lower !
o Other: 4% higher
New Build Acq & Works Cost
Results
o Based on fixed benchmarks
o Adjusted for location & build type
o Acquisition cost
• Average £40,719, 14% lower on last year
o G15: 16% lower
o L&SE: 1% higher
o Other: 2% higher
New Build Acq & Works Cost
Comparison for NHF
o Comparison requested by NHF
o Overall small increase in works cost, 3% - less than expected
o Reduction in acquisition costs – s106 schemes developed first ?
o Year shown is for handovers – cost year c. one year earlier
o Impact of recession on negotiations at time of bidding
On-costs
Results - % of A&W
• Total on-costs • 14% NB A&W (down 4%)
• 9% Package Deal (Down 4%)
• Fees • 10% NB A&W (down 2%)
• 6% Package Deal (down 3%)
• Interest • 4% NB A&W (down 1%)
• 3% Package Deal (same)
Staff Numbers & Cost
• 20% drop in programme size.
• Note - organisations aren’t exactly the same in each year.
• Staff/100 and average staff cost – same as last year.
Trend Summary
Indicator 2009/10 2010/11 2011/12 2012/13
Units Developed (av'ge in sample) 373 351 421 335
Staff per 100 units developed 4.9 4.9 4.7 4.1
Staff cost per WTE (£) 50k 50k 55k 55k
Staff cost, % A&W 1.60% 1.60% 1.60% 1.60%
Overall HQI Score
• This year = 64%,
0.7% higher on last year
Sustainable Homes Code
67% built to Code 3
32% to Code 4
1% Code 5 &6
HQI scores
Resident satisfaction
Results
• 86% satisfied
Up from 82% last year.
• 6% dissatisfied
Down from 12% last year.
Changes for 2015
Why are we proposing this major review?
Members’ comments:
Data overload – deters submission
Reports timing – reports concentrate on historical position
Usefulness of reports
SDS comments:
IT resource very demanding
Requires everyone's data before we can publish
We want to improve usefulness and value of membership
Cost/pricing imbalance. Review pricing – increase members
Changes for 2015
What do we want to achieve?
Faster and more up to date reporting
Concentrate on core areas of development
More forward looking
Simpler pricing structure
Changes for 2015
In Summary
There will be 3 separate reporting areas
1. Scheme costs
2. Annual data
3. Appraisal & subsidy
Each will be optional and reported separately
Changes for 2015
In Summary
1. Scheme costs
• Concentrate on costs only
• Reports will be online only
• Extend reports - improved reporting of collections
of scheme data – more flexibility
Changes for 2015
In Summary
2. Annual Data
• Organisation’s development overheads
• Programme in the year
• Resident satisfaction
• Sales Performance
Annual ‘Your Results’ report and (reduced) annual schedules
Results shared
Changes for 2015
In Summary
3. Appraisal & Subsidy
• Appraisal assumptions for scheme viability
• Sources of subsidy
• Social/Affordable rent conversions
• Gearing
Annual confidential reporting – comparison with quartiles only
Data not shared
Need to submit data to get results.
Changes for 2015
In Summary
Key Benefits
o Big reduction in essential data reporting
o Prompter annual reporting
o Reporting concentrated on the most critical business issues
o More forward looking – appraisal, subsidy and dev. programme
• All areas optional
• Scheme reconciliation with annual data no longer required
Changes for 2015
Scheme Costs
• Data Collection – same as current arrangements
• Two validation reports – one on submission, one on validation
• Limited to key attributes, A&W, Fees and Interest
• Submit schemes at any time - optional
• No annual reports – all online
• Schemes can be real or speculative – validation of both possible
• Increase fields to filter by NAHP programme and user-defined
‘groups’
Questions Dropped:
Quality, timings, subsidy (moved elsewhere) satisfaction of service
providers, accidents, CfSH, first tranche sales income.
Changes for 2015
Changes for 2015
Scheme Submission Process
Preliminary report – basic error checking
Full report – detailed scheme report
Annual Data
• Staff data retained
• Programme size and shape input as a summarised total
• Resident survey results retained
• More detail on sales – timing plus cost of marketing and staff
• Data on tenure conversions
• Summarised data on gearing
• Scheme reconciliation no longer required
Questions Dropped
• Defects, detail of other development undertaken
Changes for 2015
Annual Data
• ‘Your Results’ report based on your data
• No need to wait for others to submit
• ‘Your Results’ published following submission/validation
• At end of period annual data for all members published.
• We will still push for this data to be submitted by 31st July.
Changes for 2015
Appraisal Assumptions & Subsidy
• New optional area of data and reporting
• Appraisal parameters
– NPV/IRR/Discount rate/period
– Development and long term loan rates & repayment periods
– Inflation
– Rent allowances
– Cost/Value %
– Yields
– Debt per unit
– Interest cover
Changes for 2015
Appraisal Assumptions & Subsidy
• Appraisal parameters
– Separate customised annual report for each member
– Data confidential and not shared
– Your data compared with quartile results
– Analysis will cover the main tenure/product types
• Affordable rent, Social rent, SO, Market rent, Outright sales
– Data submission date 31st July
– Must submit your data to see quartile results for other members
Changes for 2015
Appraisal Assumptions & Subsidy
• Subsidy
– Summarised total allocated programme data (HCA & GLA)
– Total subsidy received (to be received)
– Sources and quantum of all subsidy, including internal.
– Conversions required
– % of market rent on first letting of Aff. units (HCA, GLA)
– Separate annual subsidy report.
Changes for 2015
In Summary
Key Benefits
o Big reduction in essential data reporting
o Prompter annual reporting
o Reporting concentrated on the most critical business issues
o More forward looking – appraisal, subsidy and dev. programme
• All areas optional
• Scheme reconciliation with annual data no longer required
Changes for 2015
In Summary
Changes for 2015
Reporting Area Scheme
Costs
Annual
Data
Appraisal
Subsidy
Input Rolling 31st July 31st July
Output On demand 31st October 31st October
Required
Data
Optional Optional Optional
Further questions comments please…..
Changes for 2015
Membership
Housekeeping
Timetable
Pricing
1. To receive the optional Expert Commentary – tell us! 2. Check your organisation details are still correct.
3. Check that users assigned to your organisation still work for you! If
not, set them to ‘Suspended’. Users who have left cannot be
deleted if they have submitted schemes. Add new users – no limit.
4. Enter and submit scheme data at a convenient time to suit you,
– don’t wait to enter it all in one go!
5. Update validated scheme data, if it has changed.
6. Consider asking Project Managers to enter data for their schemes.
Housekeeping
Timetable
31st March – SDS to complete changes to the system
31st July – Submit annual data
31st July – Submit Appraisal/Subsidy data
o Scheme reports – online
o ‘Your Results’ following submission
o Annual summary commentary and schedules – End October
o Appraisal/Subsidy Data – End October
Timetable
• Single payment structure, paid at start of year (April 2015)
• Based on previous year’s development programme
• 3 Levels ex. VAT
1. Up to 150 units £1,350
2. From 151 to 250 £1,800
3. Above 250 £2,340
• Covers all areas of the club:
o Scheme costs – online reporting
o Annual Data – annual report
o Appraisal Assumptions & Subsidy – annual report
• All areas optional
Pricing 2015
• Average increase for all members £324 (based on 2012/13 data)
• Max. increase for 3 members (£846)
• 4 members will see a cost saving!
• Housemark discount dropped – virtually every member is already a
HM member!
• New prices and this comparison are based on current year
discounted Housemark prices
Pricing 2015
o Workshops will be arranged for Spring 2015
o Dates published before end of this (calendar) year
o Website will show details
Catalyst Workshops
Open Forum
01483 278444 www.s-d-s.co.uk
contact us
