Issue - meetings

Cobtree Manor Estate Financial Position

Meeting: 20/07/2017 - Cobtree Manor Estate Charity Committee (Item 18)

18 Report of the Head of Regeneration and Economic Development - Cobtree Manor Estate Financial Position pdf icon PDF 48 KB

Additional documents:

Minutes:

The Senior Finance Manager presented a report which summarised the 2016/17 year end outturn and the current financial position of the Estate as at 31st May 2017 which covered the activities at the golf course, Kent Life, the Manor Park and the Café/Visitor Centre.

 

It was noted that:-

 

·  The accounts for 201617 stated that there was a net operating deficit of £77k which was mainly attributed to difficulties around the golf course contract.

·  The accounts for 2017/18 forecasted a small surplus.

·  Officers had looked at a standalone financial system for the Trust but it was not felt to be viable.  However, it was felt that to set up a separate company on the Council’s existing financial system would be the way forward.

RESOLVED:  That the current financial position be noted.