Importance: Very highView other "Corporate Foundation" indicators
31st Mar 2023
Operating margin is lower than target due to reduced operating surplus attributable to higher operating costs as highlighted in the commentary for the Headline Cost Per Unit KPI driven mainly around increased utility costs (tripling in the period), service charges (arising mainly from increased utility costs) and asset management costs, being particularly affected by increased prices due to inflationary pressures. Overall operating costs are c£9m in excess of budget. Members will note the £2m spend that Board approved in December 2022 to restart delayed planned maintenance was a decision taken to utilise some of the headroom we had in the operating surplus.
Operating margin is lower than target due to reduced operating surplus attributable to higher operating costs as highlighted in the commentary for the Headline Cost Per Unit KPI driven mainly around increased utility costs (tripling in the period), service charges (arising mainly from increased utility costs) and asset management costs, being particularly affected by increased prices due to inflationary pressures. Overall operating costs are c£9m in excess of budget. Members will note the £2m spend that Board approved in December 2022 to restart delayed planned maintenance was a decision taken to utilise some of the headroom we had in the operating surplus.
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