Issue - meetings

The Committee received a report that provided an update on the financial performance of the MioCare Group CIC during the financial year 2021/22, giving an overview of their business strategy and providing an update on the budget for 2022/23.

The report provided an update on the financial health of the MioCare Group. A Scrutiny Committee had previously received an update in this regard in March 2021. Members of the Committee were advised that the 2021/22 performance had been delivered in line with budget. The report provided the Committee’s members with the strategic context for the current and future operating environment and the considerations for the 2022/23 budget.

The Committee were informed that the overall trading performance across the Miocare Group had been positive in the face of a very challenging operational climate, particularly because of COVID-19. The end of year consolidated Group position showed a surplus. In addition, resources were placed in reserves to assist with financial resilience and provide much needed investment to build an infrastructure capable of transforming the MioCare Group to deliver on current and future objectives.

The Committee was reassured that the MioCare Group Board and Senior Leadership Team continued to work together with Oldham Council to monitor the finances of the Group carefully and make such decisions were are necessary to try to ensure the future success of the Group.

RESOLVED:

That the report be noted.