The Director of Finance and Business Improvement introduced the Financial Update report and explained that the impact of Covid-19 on the Council’s finances was £7.568 million. Services reporting to the committee had an overspend with a notable negative variance forecast for the Maidstone Leisure Centre, as a result of both the missed income usually provided and the contractor’s expectation for the Council to underwrite their costs. The main activity within the Capital budget was the Mote Park lake dam works, which had been successfully completed.

The Senior Business Analyst introduced the Performance Monitoring update of the report and explained that four of the five Key Performance Indicators (KPIs) had missed their target due to the Covid-19 restrictions imposed. It was noted that, as there had been a lockdown during quarter four, it was expected that further targets would also be missed.

It was highlighted however that the fifth KPI, number of visits per month to Visit-Maidstone.com, had surpassed its target, having achieved almost double the target number.

RESOLVED: That

1.  The Revenue position as at the end of Quarter 3 for 2020/21, including the actions that had been taken or proposed to improve the position, where significant variances had been identified, be noted;

2.  The Capital position at the end of Quarter 3 be noted; and

3.  The Performance position as at Quarter 3 for 2020/21, including the actions that had been taken or proposed to improve the position, where significant issues have been identified, be noted.