"Invest in and deliver good governance"
English Rural’s commitment to good governance included the adoption of the updated NHF Code of Governance, agreed by the Board the previous year and formally adopted at the start of this year. One key challenge that emerged for our voluntary Board was the reduced maximum term for Board Members as per the new Code. With careful succession planning and by updating the profile of board skills, we are working to overcome this challenge while ensuring overall governance performance remains strong.
To manage the transition to the standard six-year limit of board membership, the Board agreed to extend the terms of the current Chair and Vice Chair by one year. This decision was also driven by an agreed business case and will help to moderate the number of Board Members retiring. Further assurance on governance arrangements has been sought through an external board effectiveness review.
Our board's proactive approach to navigating the challenges posed by the new NHF Code of Governance, especially with respect to board membership terms, is a testament to our commitment to maintaining strong governance. It's crucial we continue this focus and evolve our practices to meet the dynamic needs of the organisation.
Recruiting a new Resident Board Member in a short, but impactful tenure, was a noteworthy achievement, although enhancing the extent to which resident voices inform our governance remains a challenge. We acknowledge the importance of co-creation in making this successful and will focus on this in the coming year.
During the year, we implemented significant changes to our overall governance, streamlining the Group by transferring the former subsidiary NFVHA into English Rural. Balancing this, TCCHS merged into the Group as a new subsidiary. These changes were accompanied by a comprehensive review and update of the Group Standing Orders and Financial Regulations, forming the basis for delegation and decision-making.
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Retention of V1 and G1 regulatory gradings
Review and streamlining of group structure to accommodate changes in governance arrangements.
Adoption and compliance checks of the NHF Code of Governance 2020
Advancement of Board succession plans and commissioning of an external board effectiveness review
A rural landowner, crucial in helping to make affordable rural homes a reality.
>> For smaller housing associations with voluntary Boards there are some specific challenges arising from the reduced board term embedded within the updated NHF Code of Governance. Careful succession planning and a practical approach are important. Some further work is needed to inform recruitment and board churn in the future and planning is ongoing to achieve this.
>> Delivering aims for greater resident voice and enhanced diversity has not been achieved in a way that was initial hoped for. Although a good deal of progress has been made and understanding advanced for both matters, more work is necessary, and this will be a focus for the coming year.
