A standard compliance assessment is a scheduled assessment to ensure ongoing compliance with the National Regulatory Code (NRC).
The standard compliance return consists of:
A summary of the components of the return is presented in Table 1.
Table 1 : Components of the standard compliance return
Standard compliance return | Tier 1 | Tier 2 | Tier 3 |
---|---|---|---|
Core financial data |
Tier 1 standard current financial return (incl. audit report) and 10 yr. forecasts | Tier 2 standard current financial return (incl. audit report) and 10 yr. forecasts | Tier 3 standard current financial return (incl. audit report) and 2 yr. forecasts |
Core non-financial data | Tier 1 standard non-financial metrics return | Tier 2 standard non-financial metrics return | Tier 3 standard non-financial metrics return |
Property data | Current property data list and generated community housing asset performance report (part of ‘Return’) | Current property data list and generated community housing asset performance report (part of ‘Return’) | Current property data list and generated community housing asset performance report (part of ‘Return’) |
Significant changes to policies & procedures | Updated policies & procedures | Updated policies & procedures | Updated policies & procedures |
Action to address compliance findings | Report outlining actions to close-out any recommendations or address compliance findings | Report outlining actions to close-out any recommendations or address compliance findings | Report outlining actions to close-out any recommendations or address compliance findings |
Community housing (CH) development programme | List of CH development programmes and their status (or equivalent) | List of CH development programmes and their status (or equivalent) | Not required unless Provider has CH development and upon request by Registrar |
Asset management | Achievement of current strategic asset management & development plan (or equivalent) | Achievement of current strategic asset management & development plan (or equivalent) | Achievement of current asset maintenance plan (or equivalent) |
Governance & management | Annual report (or equivalent) | Annual report (or equivalent) | Annual report (or equivalent) |
Risk management | Risk management plan and risk register (or equivalent) | Risk management plan and risk register (or equivalent) | Only upon request by Registrar |
Tenant / resident satisfaction | Latest tenant/resident satisfaction report | Latest tenant/resident satisfaction report | Only upon request by Registrar |
Appeals and complaints | Current appeals and complaints register (or equivalent document) | Current appeals and complaints register (or equivalent document) | Current appeals and complaints register (or equivalent document) |
Performance against business goals | Latest report to Board detailing past and current performance against goals/targets in business plan & strategic asset management / development plan | Latest report to Board detailing past and current performance against goals/targets in business plan & strategic asset management / development plan | Only upon request by Registrar |
In completing the return providers should note the following principles
22 Jul 2022
We acknowledge Aboriginal people as the First Nations Peoples of NSW and pay our respects to Elders past, present and future. We acknowledge the ongoing connection Aboriginal people have to this land and recognise Aboriginal people as the original custodians of this land.