Why we are engaging with Trust Housing Association Ltd (Trust)
We are engaging with Trust about its financial management.
Trust provides over half of its tenants with “Heat with Rent” and “Communal Energy”. These are charges which mean that some tenants’ energy costs are included as part of their rent. Trust is subsidising the energy costs to help keep charges affordable and is in the process of reducing the size of this subsidy.
Trust must do
Trust must send us relevant Board reports and minutes relating to the energy charges.
What we will do
We will:
- review the reports and minutes and engage as necessary; and
- update our published engagement plan in the light of any material change to our planned engagement with Trust.
Regulatory returns
Trust must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.