Social Value Returns
It's that time of year again when we reach out to our suppliers to capture all of the social value that has been delivered through Fusion21 contracts over the previous financial year - 1 April 2023 – 31 March 2024.
Please note, these returns are separate to the financial valuations that you submit to Fusion21.
Social Value remains an integral part of Fusion21. More than ever, our public sector members are focused on delivering social impact in the areas where they work and making sure that every £1 of contract spend delivers benefits for local people.
Find out how to submit your Social Value Returns via the video walk through below:
Q1. What are the social value returns?
The social value returns are an excel spreadsheet which is prepopulated with all your current live contracts on our frameworks (with a spend of over £100k, from the last 12 months). At the end of each financial year, we send out an email to all active suppliers and ask them to fill in the social value that has been delivered against the contracts we have included in the spreadsheet. We ask these to be returned by the deadline we set, so we can confirm with members and staff that your social value obligations have been met for that financial year.
Q2. Is it on all contracts?
No, only those live that have spent £100k or more (unless a consultant).
Q3. Why do we have to do these?
It is part of your framework agreement clause 24. Please refer to this document.
Q4. What if I need help filling it in?
Please contact me directly and I will arrange a teams call, or meet up to help you complete this.
Q5. I have never done this before, someone else did this previously, I am unsure of what to do.
No problem. I can send the one that was submitted last year (if applicable) and do a walk through over teams for you.
Q6. Is this the same as the valuations?
No, valuations are submitted each quarter and confirm the contract spend. They do not confirm any social value activity.
Q7. What happens if I do not know what has been done?
Please refer to your social value delivery plan created at the start of the contract. If this has not been done, please refer to communications with your client to see what social value has been agreed. If you cannot find any of this information, please contact me directly to discuss further.
Q8. What is the target?
This will be filled out for you on the sheet when we send it but it is 10 credits per £100k spend.
Q9. What happens if we have delivered above or below our target?
If above, this is fantastic. If below, we ideally need to know why and if can this be rectified as soon as possible. The credits must all be delivered by the end of contract and not after.