A progress report on the development of the 2023-24 Exeter City Living business plan confirms a governance and management review will take place after an auditor’s report which found that the company had put the council at “significant financial risk” after losing £2.2 million in its first two years of trading.
The report also confirms that the business plan won’t be ready until a fortnight after the financial year to which it applies begins – five months late – and that a contractor still hasn’t been appointed for the company’s Vaughan Road development.
