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Issue - meetings
Foreshore Trust - Annual Report and Final Accounts 2015-16
Meeting: 26/09/2016 - Charity Committee (Item 58)
58 Foreshore Trust - Annual Report and Final Accounts 2015-16 PDF 47 KB
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Minutes:
The Assistant Director, Financial Services and Revenues, presented a report for the committee to consider the 2015/16 annual report and financial accounts.
The report detailed key activities undertaken by the Trust throughout the previous year, including investment in the refurbishment of the White Rock Baths to form the Source BMX and Skate Park. The Trust had also allocated significant funding to a range of local organisations in the charitable and voluntary sector through its small grants and events grants programmes.
The balance at the end of March 2016 was £1,236,463, the report noted that the trading surplus achieved in the 2015/16 was higher than projected in the budget. The report also set out expenditure the Trust had committed to in its business plan and its approach to maintain prudent levels of reserves
The Trust’s final accounts 2015/16 had been subject to an external audit, which found that they gave a true and fair view of the charity’s affairs as at 31 March 2016.
Councillor Forward proposed approval of the recommendations to the Assistant Director, Financial Services and Revenue’s report, which was seconded by Councillor Cartwright.
RESOLVED(unanimously) that the annual report and financial accounts for 2015/16 are approved
The reason for this decision was:
The council has the responsibility for the proper management of the financial affairs of the Trust. In doing so it complies with the Accounting Codes of Practice and the high standards required for the accounting of public money.
The council as Trustee, through the Charity Committee is approved to approve the annual report and accounts by the 30th September each year.
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