Issue - meetings

Cobtree Manor Estate Financial Position

Meeting: 25/01/2018 - Cobtree Manor Estate Charity Committee (Item 52)

52 Cobtree Manor Estate Financial Position pdf icon PDF 56 KB

Additional documents:

Minutes:

Mr Paul Holland, the Senior Finance Manager, presented a report on the current financial position of the Estate as at 30 November 2017.

 

The Committee noted that the overall budget forecast for the estate activities would show an overall deficit position of £27,250 for the year.  However, taking into account the estimated investment income of £50,000, it would project resources increasing by £22,750 for 2017/18.

 

In response to questions from Members, Mr Holland advised that:-

 

·  Income for the estate would remain about the same even though the Café would be operated by a private Contractor as the Council would receive 8% of their turnover.

·  Mytime, the Contractor for the Golf Course, would be invoiced quarterly in advance rather than annually. Mr Holland committed to confirming with Members once this arrangement was in place.

·  He would investigate whether it would be feasible to move invoicing Kent Life to quarterly rather than a year in arrears and would advise Members what sums had been paid to date.

RESOLVED:  That the current financial position be noted.