The Head of Finance introduced the report, stating that the current revenue position demonstrated a small underspend of around £340,000, with a forecast overspend of around £290,000 by the end of the financial year. There had been under-or-overspends relating to public conveniences, recycling and the crematorium. The two key areas of overspending related to temporary accommodation of around £730,000 and additional costs to the existing waste collection contract, with further details contained within the report.  

There had been slippage of around £7.9 million within the capital budget, which was broadly attributed to the Disabled Facilities Grant, temporary accommodation, private rental sector housing and 1000 Affordable Homes projects.

The key performance indicators (KPIs) showed a comparable performance to the second quarter of the financial year, although the performance achieved had not been as high as hoped.  The information contained within the appendices to the report concerning the recovery and renewal funding and UK Shared Prosperity Fund was referenced.  

RESOLVED: That

1.  The Revenue position as at the end of Quarter 3 for 2022/23, 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 3 be noted;

3.  The Performance position as at Quarter 3 for 2022/23, including the actions being taken or proposed to improve the position, where significant issues have been identified, be noted.

4.  The Recovery & Renewal Update, attached at Appendix 3 be noted; and

5.  The UK Shared Prosperity Fund update, attached at Appendix 4 be noted.