Regulator confirms 30 September deadline for Financial Forecast Returns | News

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Regulator confirms 30 September deadline for Financial Forecast Returns

The Regulator of Social Housing has confirmed that 30 September will be the deadline for Financial Forecast Returns. 

In a letter to registered providers, the Regulator says: "We will also need to gather further assurance on the overall position of the sector and refresh our published grades. We will do this through the annual stability check process.

"To do that we will require FFRs supported by current business plans from providers by 30 September 2020."

The letter adds: "The deadline for FVA and accounts submissions remains 31 December 2020, though we strongly encourage you to submit as soon as accounts and the FVA have been signed off."

On the specifics of the FFRs, the Regulator says: "The business plan and FFR should be an accurate reflection of what you intend to do based on your current understanding including, for example, your projected development activity, planned investment in repairs and improvements to your existing stock.

"They should be based on robust evidence about the condition of your stock, taking into account any plans for building safety or energy efficiency work as well as the impact of Covid-19."

The letter also gives some indication of where the Regulator is looking in regard to virtual In Depth Assessments. 

It says: "We have been monitoring the situation closely, and in consultation with our Board and stakeholders have decided that it would now be appropriate gradually to scale up our regulatory activity as the pandemic situation eases.

"We will be running some virtual IDAs with a small number of providers over the summer; these providers have already been contacted to ensure they are able, and willing, at this stage to accommodate an IDA.

"As part of that, we will begin to reinstate our work on assessing grades for those providers who are currently at G3 or G2 and who are well advanced in addressing issues identified in the current regulatory judgements."

The full letter can be found here.

 

The Regulator of Social Housing is due to speak at the HQN Annual Conference on 16 July. There are still places available if you would like to book on. Find out more on the event page.