The Head of Finance introduced the report and explained that an underspend of £8,000 was forecast against the revenue budget for the Committee with some anticipated shortfalls at the leisure centre, business terrace and the market. The total capital expenditure for the year was predicted at £2.9 million, with £1.5 million slippage forecast on the capital programme which was largely attributed to the Mote Park Visitor Centre and Estate Services Building.

The Senior Business Analyst introduced the performance monitoring report and explained that both targetable key performance indicators (KPIs) missed their target by more than 10%. Footfall in the Town Centre was 11.5% higher however than the same quarter the previous year, and the number of youths unemployed (18-24) was slowly decreasing.

In response to questions, the Head of Regeneration and Economic Development confirmed that although there had been multiple vacancies during the pandemic, there was currently one vacant unit in the business terrace.

RESOLVED: That

1.  The Revenue position as at the end of Quarter 2 for 2021/22, including the actions being taken or proposed to improve the position, where significant variances have been identified, be noted;

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

3.  The Performance position as at Quarter 2 for 2021/22, including the actions being taken or proposed to improve the position, where significant issues have been identified, be noted.