Homes & Communities Agency - Regulatory Judgement

04 SEP 2015

 

Chapter 1 has met with the Homes and Communities Agency and has welcomed the opportunity to discuss the governance and viability downgrades now published.  The organisation is committed to working closely with the HCA to overcome the weaknesses identified. 

In recognition of the governance downgrade the Chair of the Trustees has stood down from the Board.  The Trustees have appointed Clive Bodley, a recent co-optee to the Board, to the role of Chair.  Clive will lead a process of reviewing Board skills and appropriate membership together with establishing clear future plans. 

With the recent appointment of a new Chief Executive and new Finance Director, Chapter 1 has addressed previous cash flow challenges and has now established a stable financial base able to meet all current liabilities. The organisation remains committed to working with disadvantaged groups within society and will be assessing how best to apply its resources to ensure its primary purposes are fulfilled