Regulatory milestone for Fairfield Housing Co-operative
Scottish Housing Regulator decides not to continue the appointment of a statutory manager.
Over the last 18 months, Fairfield Housing Co-operative said it has been working hard to improve governance arrangements in response to the Scottish Housing Regulator's (SHR) intervention. During this period, the co-operative has had two Statutory Managers, two Interim Chief Executives, seven SHR appointee members to the management committee and elected new members to the committee.
The management committee, appointees and staff have worked hard to improve the arrangements, and this has been recognised in the Scottish Housing Regulator‘s recent decision not to continue the appointment of a statutory manager. The seven appointees will continue on the management committee until at least September 2020
Bob McDougall, Chair of Fairfield, said: “This is a significant milestone for Fairfield. I feel the decision of the SHR confirms the confidence they have that we will address and implement the required improvements. The primary aim for us is to improve the governance arrangements to ensure the Fairfield tenants receive the best possible services and value for money, and I feel we are delivering on this objective.
"I’d like to thank all the appointees and my fellow committee members for their hard work which has got us to this stage.”
Mr McDougall added: “We do, however, realise that a fair bit of work still remains to be done, and a comprehensive programme has been developed to address the remaining actions. Part of this is considering a constitutional change for Fairfield, which, if approved, would see the organisation change from a fully mutual co-operative to a charitable housing association.”
From 1 May, Fairfield and Kingdom Housing Association entered into a shared services agreement, for the provision of Chief Executive, governance, finance and strategic asset management services. The potential benefits associated with this arrangement are recognised in Fairfield’s recently published Engagement Plan, where it states that one of the key elements of Fairfield’s recovery strategy was the delivery of a shared services arrangement with Kingdom.
When the Scottish Housing Regulator published the new Engagement Plan, it confirmed it took the decision to end the appointment of the Statutory Manager, because the co-operative has made significant improvements to its governance and financial health.
The SHR said: “Fairfield has worked co-operatively with us to deliver significant improvements in its governance and financial management and has also set up a collaborative working agreement with Kingdom Housing Association to ensure it has the support it needs to comply with regulatory standards.”
The regulator will review its appointments to the governing body in September this year.
A copy of Fairfield’s new Engagement Plan can be found here.