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MAIDSTONE BOROUGH COUNCIL
RECORD OF DECISION OF THE Queen's Own Royal West Kent Regiment Museum Trust Committee
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Decision Made: |
15 January 2014 |
QUEEN'S OWN ROYAL WEST KENT REGIMENT MUSEUM TRUST - ACCOUNTS 2012/13
Issue for Decision
To approve the Trust’s Accounts for the year ending 31 March 2013.
Decision Made
That the Trust’s Accounts for the year ending 31 March 2013, attached as Appendix A to the report of the Head of Finance and Resources, be approved.
Reasons for Decision
The Accounts for the year ending 31 March 2013 are attached as Appendix A to the report of the Head of Finance and Resources.
The Accounts must be approved before they are submitted to the Charity Commission.
There was a deficit of £4,585 on the Receipts and Payments Account for 2012/13. This was a consequence of a number of significant purchases (which are detailed below) and the introduction of a service charge by the Council to cover the running costs of the area in the Museum occupied by the Trust collection.
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Item |
Cost (£) |
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Purchase of Kiosk in Gallery |
2,500 |
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Purchase of Book – ‘A County Regiment’ |
1,688 |
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Purchase of Photograph Album |
240 |
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Total |
4,428 |
The Trust continues to have a healthy level of assets, which currently stand at £22,525, but the bank account balance now stands at £3,155. The Receipts and Payment Account has operated at a deficit for the last two years, and as a minimum the Trust needs to at least generate sufficient income to meet the annual service charge payment to the Council. This target has been achieved for the last two years, but additional income or sources of income will need to be identified to meet any further costs such as the purchase of new exhibits.
Alternatives Considered and Why Rejected
There is no alternative action as the Trust is required to submit its Accounts to the Charity Commission.
Background Papers
None
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Should you be concerned about this decision and wish to call it in, please submit a call in form signed by any two Non-Executive Members to the Head of Policy and Communications by: 24 January 2014. |