The first item of business for each Board was the election of its Chair: Lucy Weston for the Red Kite Group Board and Anita Khan for the Twenty11 Board.
On procurement, some governance gaps had been noted in respect of expired or informal supplier arrangements and work to remediate gaps by bringing the majority of such onto framework contracts would be completed by the first week in November, following which an internal audit would be commissioned.
Work was progressing to ensure that the organisation was ready for the implementation of the Social Tenant Access to Information Requirements (STAIRs) on 1 October 2026.
A strategic discussion around temporary accommodation would take place at the next Group Board Away Day.
The Group Board’s various sub committee’s reported on their recent work.
A lessons learnt report was presented in respect of the recent stock acquisition purchase which, amongst other things, agreed that there would be a need for stronger mobilisation, tenant impact planning and engagement, agreed success metrics and the use of smaller working groups/task and finish models for any future major transactions instead of full Board involvement at initial stages.
A report on the readiness for the upcoming Competence & Conduct Standard changes was received alongside an update Code of Conduct, which was linked to the organisations wider cultural transformation programme. An accompanying “Values in Action” document would receive further consideration in terms of how it might better relate to tenants.
The Group Board noted that performance overall was improving particularly in repairs, contractor delivery and complaints handling. Operational hotspots included void performance and new homes satisfaction.
The Group Board received a finance and treasury update which advised that overall, financial performance was broadly stable but impacted by development timing and sales delays. Some capital programme delivery risks remained a key operational focus. The Treasury Strategy was considered appropriate for liquidity and development needs with continued monitoring taking place in respect of debt cost exposure.
A risk management update was presented and the Group Board approved the proposed framework and contextual statements for assessing the 12 strategic risks against its existing risk appetite and that further work would be undertaken to refine risk scoring and address any anomalies. During discussion the Group Board agreed to change the safeguarding risk appetite from cautious to minimal.
A Business Transformation Update was provided and discussion followed. The Group Board emphasised the need for clear articulation of outcomes, milestones and measurable benefits.
Housekeeping updates to the Group Governance Regulations were presented and approved alongside revised committee terms of reference.
The Group CEO, Peter Cogan acquainted the Board with the high-level results of the recent Little Door Knock which had been part of a wider Community Morning. There had been a general positive feeling about the organisation with however frustration from some tenants regarding situations where the organisation had made repeated mistakes. He also advised that the organisation had received a scheduled visit from the Chair of the National Housing Federation, Maggie Galliers, the focus of which had been on meeting frontline operational teams, engaging with tenants and observing the community first hand rather than meeting solely with the Executives. At the end of her session she spoke with genuine passion about the organisation’s commitment to service quality and the aspirations demonstrated by operational staff.
The Group Board were advised that there had been encouraging improvements in employee engagement and sentiment. Retention outlook was strong and communication had shown the most substantial improvement.
Operational teams had demonstrated a proactive engagement reaching out to over 400 vulnerable tenants through a combination of telephone calls and face-to-face visits during the recent hot weather.
The Group Board was advised that a new tiered volunteer engagement structure was being considered which would allow volunteers to engage at varying commitment levels and to make participation more inclusive.
Several policies were discussed and approved namely the Recruitment & Succession Planning Policy, Whistleblowing Policy and the People Strategy.
A summary of the review of the strategic risk register had been undertaken which had included a comprehensive review of risk descriptions to improve clarity. As most risks currently sat outside of the Group Board’s risk appetite further discussion took place as to whether appetite scores were realistic or too cautious and a small Group Board working group was set up to conduct a review of the risk scoring calibration and appetite and tolerance descriptors.
The Group Board meeting also considered and received annual regulatory assurance papers; the annual report and financial statements; the Asset & Liabilities Register and nomination matters relating to the upcoming Annual General Meeting. Discussion also took place with regards the Non-Executive Director’s review of remuneration.
The new Chief Executive, Peter Cogan advised that very strong Tenant Satisfaction Measures had been achieved by the organisation. He advised the Group Board of the Big Door Knock Initiative that he would be introducing later in the year and that work with the council at top level had taken place and would continue.
A slow down in uptake on shared ownership sales was highlighted as a potential future risk and the fact that more proactive marketing efforts would be introduced.
The issue of contract management was discussed and there was agreement that this needed to be strengthened within the organisation. Overall performance and trends were noted alongside associated recovery actions.
Overall financial performance was strong with compliance to all covenants and golden rules. There had however been a late shift in expenditure in repairs and property and the teams were working to improve forecasting accuracy.
A discussion around the top 11 strategic corporate risks took place which demonstrated where the organisation sat in terms of its risk appetite.
Turning to health and safety, an audit by Pennington Choices had provided reasonable assurance across all major compliance areas, including gas, electric and asbestos management.
The Group Board received an update on the digital transformation programme alongside a recap of the original commitments and next steps, which had in effect evolved into a broader business transformation project rather than a systems upgrade.
A review of the corporate strategy year one deliverables had been presented.
The Member Responsible for Complaints had been satisfied that the new Executive Leadership Team had heard, listened and were acting on the issues that had previously been raised in respect of feedback and learning.
Discussion took place around the Group’s Safeguarding Policy upon which some comments were provided which would require some additions being made and the policy represented for approval.
The Group Board approved the Merger and Acquisition Policy which clarified that mergers should only be considered if they were with regionally based, community focussed organisations not large nationals with only a local footprint.
Approval was given to proceed with the digital transformation procurement of the supplier for the housing and asset management systems in Esuasive.
The Board agreed to the proposed 3.8% pay increase for all staff effective from 1 April 2026.
The extension to the internal audit services contract with Menzies was approved for 12 months.
A report was received and considered by the Member Responsible for Complaints who advised that some complex cases involving repairs, damp, mould and disrepair could become a risk to the organisation and that a task force had been established to prioritise and address such high risk cases.
The Asset Management Strategy, which was closely linked to the Tenant & Community Strategy were both approved by the Group Board.
The Group budget was presented which highlighted strong financial performance, a robust operating margin and increased investment in existing homes and which was subsequently approved.
The Annual Business Plan Review, Stress Testing and Mitigation Strategy were all considered and subsequently approved. Additionally, assessment was made on the level of returns being made on current investments and the Board approved an updated Group Investment Policy.
Quarterly performance updates in respect of finance/treasury; risk management, health and safety and strategic projects were received and scrutinised.
The Twenty11 New Market Rent Assured Tenancy, Tenancy Policy and Market Rent Policy were considered and approved in light of the Renters Rights Act.
The recruitment package in respect of the Twenty11 Tenant Board Member was agreed.
The Group Board considered and reviewed the amended Intragroup Agreement and the new Overlapping Board Policy, which were subsequently approved. Additionally, the Group Complaints Policy and Twenty11 Allocations Policy were approved alongside the Group Development Strategy.
The Interim Group CEO gave a comprehensive update on the aged works in progress repairs backlog and whilst the figure remained higher than desired significant progress had been made.
The Group Board approved entering into contract for two development schemes namely Hampton Meadows in Watlington and The Atrium in Maidenhead.
Audit & Risk Committee had received several internal audit reports.
Operational Performance & Tenant Services Committee had agreed to the consolidation of five individual health and safety policies into a single comprehensive suite and this was approved by the Board.
People, Renumeration and Nominations Committee considered the results of a recent staff survey and culture report which would link into a comprehensive people strategy.
Following legal advice, approval was given for Twenty11 to grant Red Kite a sum of money to invest in new homes.
The Board received financial reporting and treasury information which evidenced a positive overall financial position with full compliance to all golden rules and covenants.
The Group Board Business Plan Assumptions and Mitigations Strategy were presented and approved and VfM savings would be included within the Business Plan.
The Group Board approved a 4.8% increase on rents and committed to support tenants through the hardship fund. This same increase would apply to Twenty11 rents for existing tenants. The increase in rents for existing market rented tenants on the anniversary of the tenancy would be by the higher of RPI or 3% with a maximum of 7.5% in line with contractual obligations.
The Group Board noted the contents of the Treasury Management Policy and Treasury Strategy update and that the recent work undertaken had transformed the loan portfolio providing the Group with increased funding capacity.
External consultants, Altair, delivered the results of their triennial governance review. A separate culture review had also been conducted and some work around this would be undertaken at pace.
The Board scrutinised the corporate performance framework for the organisation and noted the six month progress report against the Corporate Strategy.