What we earn and spend

We have a strong focus on providing services you, our customers, tell us are most important, and supporting your communities.

We are investing in a range of services, such as digital inclusion, and addressing affordability issues for our customers and communities.

As part of a strong commitment by our Board, we have continued to invest in local communities by offering support with money matters, preventing homelessness, improving digital skills and employment issues. During this period we spent £1.2m on supporting local people, enabling us to continue to change lives.

We are committed to keeping your homes warm and safe and have continued to spend on major maintenance and improvement work. One area of focus has been on preventing condensation and damp, with resources invested in our new ‘Healthy Homes’ project which aims to tackle these issues.

Our major repair spend per home is £1,025, this is slightly lower than 2019/20 of £1,248 per home. This was due to delays and the impact of the Covid-19 pandemic but still above 2018/19 and shows we are working hard and continuing to invest in improving your homes.

We responded strongly to the pandemic to minimise the impact on our services and maintain a strong financial position. We delayed or reduced some major expenditure and prioritised our resources. This included setting up a Customer Support Fund of £100,000 to assist those in most financial need.

Value for money and controls

Value for money underpins decisions on how money is spent and investments are made. Every year, we compare our value for money with other housing organisations and publish the information in our accounts.

We’re governed by a Board who have responsibility for decisions on funding and investment and for ensuring we comply with rules and meet high standards of governance and customer service.

We’re monitored and assessed by the Regulator of Social Housing, their most recent rating for Raven was at the highest level for governance and second highest for finances - they consider us to be a well-run and financially sound organisation.

Some of our biggest costs are for repairs, maintenance and improving homes.

We spent £4m on repairs and getting empty homes ready for people to move in

We spent £1.1m on essential checks like gas and electrical safety, lifts, water and asbestos

It cost us an average of £4,274 in 2020/21 to manage and maintain each social housing property

This is higher than the national average of £3,547 and reflects our investment in digital services and improving the condition of your homes.

We spent over £8.1m on investing in major work like replacing roofs, and new kitchens & bathrooms

Our operating margin (the amount left after essential costs) is 24.4% as a combined percentage which is the same as the housing sector average

This is used to pay back loans, and invest in existing and new homes.

We develop more homes than most other housing associations. In 2020/21, new homes accounted for 2.3% of all our homes

This is compared to the national average of 1.3%.