Issue - meetings

That:

1)        the budget monitoring position for the month ending 31 July 2019 be noted;

2)         the operational update for the period to 31 July 2019 be noted.

(Councillors UllaKarin Clark, John Halsall, John Kaiser, Charles Margetts, Stuart Munro and Wayne Smith declared personal interests in this item)

The Executive considered a report setting out the budget monitoring position and an operational update for the period to 31 July 2019.

The Executive Member for Finance and Housing introduced the report and highlighted that WHL had so far built 145 homes and there were currently 72 units on site or about to start on site.  In addition WHL was working on a further 254 units on previously identified sites.  Councillor Kaiser went through the budget monitoring position of WHL which showed that the full year income was expected to reach just under £4m.  The full year operating loss was expected to be £224k, which included the loan repayment of £1m to the Council.  The full year loss was therefore expected to be £48k negative to budget.

Councillor Kaiser advised that in relation to Loddon Homes they had a full year expected income of £1.7m with profits of £475k, which reflected a £62k positive variance.

Looking at Berry Brook Homes they were expecting a full year income of £646k with a profit of £464k which reflected a £101k positive variance against budget.

Councillor Margetts highlighted the budget position of Optalis, as set out in the report, and reminded Members that statutory services were due to be transferred from Optalis back to the Council, as previously agreed by the Executive, and this was running to schedule.  The TUPE consultation was underway and it was expected that staff would transfer on 1 November.  It was noted that this would provide the opportunity to have a one care pathway for all Wokingham residents and improve the quality of service offered. 

In addition Optalis was resetting the governance structure of the company which would be slimmed down to give more control to the Executive and Officers and react quicker to things happening in the marketplace.  Recruitment of a new CEO was underway and the strategy of the Company would be focussed on efficiency, quality and innovation rather than growth.

RESOLVED that:

1)        the budget monitoring position for the month ending 31 July 2019 be noted;

2)         the operational update for the period to 31 July 2019 be noted.