The Sub-Committee received a report on Quarter
2 performance for the Income Generation. The Corporate Director
– Finance and Resources presented the report and highlighted
a number of key issues which will impact of the Council’s
performance going forward.
The Corporate Director explained that the
Council’s commercial strategy and income strategy will need
to be updated. The former needs to be aligned with the City Plan,
as income in future years will rely on the extent on which major
capital projects are progressed. These require the Council to bid
for additional resources. The related revenue costs also need to be
understood. Furthermore, the impact of Covid-19 disruption also
needs to be analysed.
The Corporate Director made reference to a
potential property investment, for which site assessment work is
required. Similarly, some assessment work needs to be done to
support projects associated with the Future High Streets fund. It
was proposed to fund these pieces of work from the Income
Generation Reserve. Sub-Committee Members were happy to proceed on
Finally, the Corporate Director made reference
to government’s scheme to cover lost income from fees and
charges during the Covid-19 pandemic. As this is measured against
the budget at the start of the year, any reduction in the budget
will impact on the amount that can be recovered.
Officers responded to questions from Members
on detailed aspects of the report.
RESOLVED: That the
Sub-Committee note the Council’s Quarter 2 performance for