“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”.
“Overall, to date the association’s financial performance has been within its business plan as agreed recently with the lenders. On the basis of this plan the association appears to have the necessary capacity to deliver its refurbishment programme. However, key assumptions within the business plan could prove to be challenging. Financial exposures requiring particular careful management are: achieving forecast efficiency savings within its operations; recovering projected major repairs costs from leaseholders; containing the refurbishment costs within budget and generating sales of land in the current economic climate at the prices assumed”.
Read the report in full – Get it here.
TSA Regulatory Judgement of a registered social landlord (RSL) is a report to summarise the overall assessment of the association’s compliance with the regulatory framework for registered social landlords. These requirements are set out in the Regulatory Code and Guidance established by the Housing Corporation which will remain in place until new standards are determined by TSA.
The TSA Regulatory Judgement sets out the TSA’s view as to whether the organisation is viable, properly governed and properly managed.