Page 19 - NEHA 2020 Annual Report

Directors’ Responsibilities Statement
Board Renewal
In 2020 the Board undertook an external review of its operation. The evaluation highlighted several strengths of the governance framework, including: the effectiveness of the Board and committee structure; and the strong breadth and depth of complementary skills and experience on each committee.
Areas for continuing focus and review included consideration of strengthening of stakeholder voice, development of an evaluation process for Board committees and a review of the Terms of Reference of several Board committees. A workplan has been developed arising from the evaluation and is overseen by the Risk Audit & Governance committee.
All members have access to the secretarial services of the Executive Officer and are supported to attend relevant training. New members undergo a tailored induction programme to ensure that they have good knowledge and understanding of the Association and its activities. They attend Board meetings and participate in site visits to build a deeper understanding of North & East homes and services as well as development schemes.
No remuneration is paid to non-executive directors for their services as Board Members. Directly incurred expenses are reimbursed, if claimed.
Board Sub-Committees
The Board is supported by the following sub-committees all of which are advisory in nature and have written terms of reference.
1. Finance & Investment
2. Development & Property Services 3. Risk, Audit & Governance
5. Remuneration
In 2020 a new sub-committee for Tenant Services & Engagement was established to review the policy and performance of North & East’s housing and tenant services ensuring all are in line with the Association’s Strategic Plan and are centred on the needs of our tenants.
Finance & Investment Sub-committee
The Finance & Investment sub-committee reviews and monitors all aspects of the company’s financial performance and controls. It makes recommendations to the Board on annual budgets, management accounts, annual financial statements and reports. The finance & Investment sub-committee meets 4 times a year.
Development & Property Services Sub-committee
The Development & Property Services sub-committee considers and evaluates options regarding the purchase, building and management of housing stock and reports to the directors with recommendations. The committee considers the cost and cash flow implications of proposed acquisitions of stock. It advises the Board on appropriate levels of reserve funding to adequately maintain homes. The committee keeps itself informed of and evaluates changes in the delivery of social housing. The development & Property Services sub-committee meets 4 times a year.
Annual Report 2020 | 19