Long-term financial projections – update on regulatory requirements

Long-term financial projections – update on regulatory requirements

On 1 April 2012 the HCA started collecting all financial and statistical data from private registered providers through one consolidated administrative system, NROSH+. NROSH+ provides a single web-based portal for providers to submit the documents and information required – both those with a standardised format and other documents required to enable regulation of the economic standards, including business plans and associated documents.

Data collected through the new portal includes Financial Forecast Returns (FFR) for larger providers (those that own 1,000 or more homes) previously submitted in Excel format.

Although the FFR content for 2012-13 is the same as that for 2011-12 there are minor changes to the layout arising from the transition from Excel spreadsheets to a web-based system. These changes mean that there is likely to be slightly more work in copying and pasting data from your Brixx or Excel model, so you should allow extra time for this. If you use Brixx, a macro file has been provided to help with the process which you will find in the “Useful files/FFR files” directory which is downloaded with the 18th April 2012 version of Housing Brixx RSL.

The 2012 FFR submission will be required by the HCA within six weeks of board approval of the underlying business plan. Providers will need to confirm on NROSH+ before the end of July 2012 the date by which you intend to submit: this will become your deadline. The regulator has indicated that they are open to discussion to agree a suitable date.

Document templates and full guidance notes can be found at https://nroshplus.homesandcommunities.co.uk/Documents/Documents

The Welsh Government Housing Regulation team will use Brixx to carry out analysis of 30-year forecasts from 2012 onwards and will therefore be accepting business plans in Brixx format. These must be submitted electronically by 31 July 2012.

For associations which do not use Brixx for their business planning the financial forecast must be submitted electronically in the Capacity Model format used by the Welsh Government in previous years. The template and additional guidance for business plans in Brixx and Capacity formats will be made available to the relevant associations by 31 May 2012.

The Scottish Housing Regulator continues to collect the Five-Year Forecast Data from all RSLs except those with fewer than 250 homes who are not developing. The spreadsheet for submission can be downloaded from the regulator website at: https://www.scottishhousingregulator.gov.uk/five-year-financial-projections and, for Brixx users, can be populated easily using the SHR 2012 returns report.

Submissions must be made using the FYFP system by 30 September 2012.

If you would like any help in completing your FFR, 30-Year or Five-Year forecast please speak to Jim Lashmar on 07968 616 550, Hugh Coll on 07503 519 633, or Susan Kane on 07870 685 891.