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4th Quarter Financial Update & Performance Monitoring Report

Meeting: 07/06/2022 - Economic Regeneration and Leisure Policy Advisory Committee (Item 16)

16 4th Quarter Financial Update & Performance Monitoring Report 2021/22 pdf icon PDF 150 KB

Additional documents:

Minutes:

The Lead Member for Leisure and Arts introduced a report setting out the financial and performance position for the services reporting into the former Economic Regeneration and Leisure Committee as at 31 March 2022 (Quarter 4).  It was noted that:

 

·  Financial performance showed an overspend against budget of £86,000 for the year.

·  The main areas of overspend were the Leisure Centre, the Business Terrace and the Market.

·  Income from all these services was affected by the Covid-19 pandemic and a recovery was expected in 2022/23.

·  In the case of the Market, budgets had been adjusted downwards in 2022/23 recognising that even without the pandemic it would have been difficult for the Market to have met its targets.

·  Capital spend showed a mixed picture with two projects overspending, but a significant underspend on the Mote Park dam.

·  Performance indicators were unfortunately all in negative territory, but the direction of travel was positive.

 

During the discussion:

 

·  The Director of Finance and Business Improvement noted a request that the performance reports be printed in colour in future.

 

·  The Leader of the Council advised the Committee that he had requested an update position on Business Terrace performance and the Innovation Centre to see how they were performing to target.

 

RESOLVED:

 

1.  That the Revenue position as at the end of Quarter 4 for 2021/22, including the actions being taken or proposed to improve the position, where significant variances have been identified, be noted.

 

2.  That the Capital position at the end of Quarter 4 be noted.

 

3.  That the Performance position as at Quarter 4 for 2021/22, including the actions being taken or proposed to improve the position, where significant issues have been identified, be noted.

 

4.  That Annual Performance for 2021/22 be noted.