Issue - meetings
2008/09 Economic Development Finance & Performance Monitor 3
Meeting: 16/03/2009 - Executive Members for City Strategy and Advisory Panel (Item 88)
PDF 92 KBThis report presents the latest projections for revenue and capital expenditure by Economic Development and Partnerships, as well as performance against target for:
· National Performance Indicators (NPIs)
· Local performance indicators
· Customer First targets (letter and telephone answering)
· Staff Management targets (sickness absence & appraisals completed)
Additional documents:
Decision:
Advice of the Advisory Panel
The Advisory Panel advises the Executive Leader to note the financial and performance position of the portfolio.
Decision of the Executive Leader
RESOLVED: That the advice of the Advisory Panel be accepted and endorsed.
REASON: In accordance with budgetary and performance monitoring procedures.
Minutes:
Consideration was given to the latest projections for revenue and capital expenditure by Economic Development and Partnerships, as well as performance against target for:
· National Performance Indicators (NPIs)
· Local performance indicators
· Customer First targets (letter and telephone answering)
· Staff Management targets (sickness absence & appraisals completed)
The current approved budget was £2,580k, which included further adjustments for £115k directorate recharges, £93k for the Thriving City agenda and £11k for pay and electricity price increases. Current projections were that the Economic Development and Partnerships service would outturn on budget.
The following areas were those on which Members had requested regular updates:
|
|
£’000 |
% |
|
£+58k shortfall on Newgate market tolls continuing the underlying downward trend in market income across the country. This is offset by £-4k additional income from the electricity substation in the compactor yard; £-8k saving through restructuring the markets cost base from October 2008; and £-8k from operational budgets. |
+38 |
+7 |
|
£-21k savings in city centre from additional income from events and operational savings to offset the market income shortfall |
-21 |
-9 |
|
£-12k saving in the Strategic Partnership team due to staff vacancies earlier in the year offset by £+5k additional costs |
-7 |
-1 |
|
£10k Savings identified across the service area to offset overspends |
-10 |
-0.1 |
|
Total Economic Development |
0 |
0 |
Advice of the Advisory Panel
The Advisory Panel advises the Executive Leader to note the financial and performance position of the portfolio.
Decision of the Executive Leader
RESOLVED: That the advice of the Advisory Panel be accepted and endorsed.
REASON: In accordance with budgetary and performance monitoring procedures.