-
Issue - meetings
Foreshore Trust Financial Report
Meeting: 19/03/2018 - Charity Committee (Item 27)
27 Foreshore Trust 2018-19 Budget and Financial Report PDF 198 KB
Additional documents:
- Appendix 1 - Financial Monitoring Report, item 27 PDF 6 KB
- Appendix 2 - Business Plan - Financial Summary, item 27 PDF 8 KB
- Appendix 3 - Indicative Forward Plan, item 27 PDF 6 KB
Minutes:
The Assistant Director, Financial Services & Revenues presented a report on the Foreshore Trust 2018/19 Budget and Financial Report. The purpose of the report was to advise members on the current year’s financial position (2017/18) and to determine the budget for 2018/19.
A question was raised to clarify an increase of £30,000 in surplus. The reply was that there was a shortfall from the previous year, but it was possible to achieve this increase if recommendation 2 of the report was approved. This would then allow the funding of the recommendations approved in minute 27.
Councillor Batsford proposed approval of the report, which was seconded by
Councillor Poole.
RESOLVED (unanimously) that:
1. The committee agree the current financial position for 2017/18
2. The allocation of general grants for 2018/19 be set at £60,000 and event grants £30,000
3. Approve the proposed expenditure funded from Reserve – albeit further approval to proceed is required for a few schemes.
4. Approve the budget for 2018/19.
5. Financial monitoring reports continue to be presented to each Meeting of the Charity Committee.
The reasons for this recommendation were:
The council has the responsibility for the proper management of the financial affairs of the Trust. In doing so it complies with Accounting Codes of Practice and the high standards required for the accounting of public money.
A surplus slightly above budget expectations is anticipated for 2017/18 in respect of ongoing operations. This enables the committee to establish a prudent level of grant allocation that can be distributed as part of the 2018/19 budget process.
The programmed use of Reserves has been determined in accordance with the business plan.
-
My council
Contact
Contact us if you have a question about democratic services.
Content
The content on this page is the responsibility of our Democratic Services team.