Contact your Parish Council
Issue - meetings
Finance, Performance and Risk Monitoring Report
Meeting: 09/02/2022 - Policy and Resources Committee (Item 194)
194 Finance, Performance and Risk Monitoring Report PDF 164 KB
Additional documents:
- Appendix 1 - Finance Update, item 194 PDF 560 KB View as HTML (194/2) 237 KB
- Appendix 2 - Performance Update, item 194 PDF 144 KB View as HTML (194/3) 53 KB
- Appendix 3 - Risk Update, item 194 PDF 1023 KB View as HTML (194/4) 188 KB
- Appendix 4 - Recovery & Renewal Update, item 194 PDF 135 KB View as HTML (194/5) 76 KB
Minutes:
The Director Finance and Business Improvement introduced the financial update and stated that a £200,00 favourable variance was expected by the end of the financial year due to underspending against the budget.
The Senior Business Analyst introduced the performance update; the Key Performance Indicators (KPI) for the ‘Percentage of Non-domestic Rates Collected’ and the ‘Percentage of Council Tax Collected’ had missed their targets by 1.97% and 0.66% respectively. The contributing factors were outlined. Three of the KPIs across the Council’s other Services Committees had missed their targets by more than 10%.
The Deputy Head of Audit introduced the risk management update and stated that two additional corporate risks had been added to the corporate risk register since the previous quarter; Loss of workforce cohesion and talent, and Covid-19: Community & business recovery. The updates to the other risks within the register were outlined, with the corporate leadership team continuing to review the financial uncertainty risk.
RESOLVED: That
1. The Revenue position as at the end of Quarter 3 including the actions being taken or proposed to improve the situation, where significant variances have been identified, be noted;
2. The Capital position as at the end of Quarter 3 be noted;
3. The Performance position as at Quarter 3, including the actions being taken or proposed to improve the position, where significant issues have been identified, be noted;
4. The Risk updates, attached as Appendix 3 to the report, be noted; and
5. The Recovery and Renewal Update, attached as Appendix 4 to the report, be noted.