Importance: Very highView other "Corporate Foundation" indicators
31st Mar 2023
Overall operating costs are c£9m in excess of budget. Costs have increased over budget principally due to higher inflationary pressures over and above that forecast in the budget for the year. This has particularly been seen in utility prices which have tripled in the period manifesting particularly resulting in higher service costs than budgeted and more notably higher overall asset management costs than expected . As well as being particularly affected by cost inflation, asset management costs have also increased above budget due to the focus to clear the post-pandemic backlog of non-urgent responsive repairs and demand pressures (from higher volume of disrepair cases than predicted and the continued focus on damp and mould). Members will note the additional £2m spend that Board approved in December 2022 to restart delayed planned maintenance will also have increased headline cost per unit.
Overall operating costs are c£9m in excess of budget. Costs have increased over budget principally due to higher inflationary pressures over and above that forecast in the budget for the year. This has particularly been seen in utility prices which have tripled in the period manifesting particularly resulting in higher service costs than budgeted and more notably higher overall asset management costs than expected . As well as being particularly affected by cost inflation, asset management costs have also increased above budget due to the focus to clear the post-pandemic backlog of non-urgent responsive repairs and demand pressures (from higher volume of disrepair cases than predicted and the continued focus on damp and mould). Members will note the additional £2m spend that Board approved in December 2022 to restart delayed planned maintenance will also have increased headline cost per unit.
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