Issue - meetings
Integrated Performance Report for Q3 2022/23
Meeting: 15/03/2023 - Cabinet (Item 134)
134 Integrated Performance Report for Q3 2022/23 
PDF 773 KB
The Head of Financial Services has submitted a report to update Cabinet on Finance, Risk and Corporate Performance matters as at 31st December 2022.
Cabinet is recommended to:
1. Note the projected financial outturn for 2022-23 as well as the current position on risk and performance as at 31 December 2022; and
2. Note the change in timing of the insurance contract procurement exercise for the new contract to commence from 1st January 2024 as outlined in paragraph 18.
Additional documents:
- Appendix A - General Fund Forecast Outturn, item 134
PDF 102 KB
- Appendix B - HRA Forecast Outturn, item 134
PDF 65 KB
- Appendix C - Capital Programme, item 134
PDF 701 KB
- Appendix D - Corporate KPIs, item 134
PDF 496 KB
Minutes:
The Head of Financial Services had submitted a report to update Cabinet on finance, risk and corporate performance matters as at 31 December 2022.
The Cabinet Member for Finance & Asset Management, Councillor Ed Turner, clarified that the areas of suspended work referred to in paragraph 10 related to pre-painting joinery works.
The Cabinet Member for Finance & Asset Management highlighted a number of key points arising from the report. It was noted that the outturn position forecast an adverse variance of £0.718 million against the net budget agreed by Council in February 2022, after a £2 million transfer from the COVID reserve. The financial climate remained challenging. There were some adverse variances in the HRA and this had led to some works being paused: there had also been an increase in fencing work due to storm damage. Options for the future approach towards these works would need to be further looked at.
There had been some slippage on the capital programme: this was in part linked to the unprecedented level of construction cost inflation which had meant that a number of schemes had had to be paused in order for costs to be re-assessed. This was a national and international issue, and was not unique to this Council.
Cabinet resolved to:
1. Note the projected financial outturn for 2022-23 as well as the current position on risk and performance as at 31 December 2022; and
2. Note the change in timing of the insurance contract procurement exercise for the new contract to commence from 1st January 2024 as outlined in paragraph 18.