The
Senior Finance Manager (Client) introduced his report summarising
the financial position of the Cobtree Manor Estate as at 28
February 2023. The report covered
activities at the Golf Course, Kent Life, the Manor Park and the
residential properties.
The
Senior Finance Manager (Client) advised the Committee
that:
·
For the first time since before the COVID 19
pandemic it had been a business-as-usual year and the various
activities at the Estate were projected to make a healthy surplus
at year end, at least in line with the budgeted figures.
·
There had been expenditure of £17,855 for
consultancy work relating to the procurement of the new Golf Course
contract. Car parking income continued
to be slightly down against the budgeted figure, but this was
offset by additional income from the Café, and, overall, the
budgets for the Manor Park were underspent.
·
Income from the Golf Course was going to be higher
than budgeted. Income of £139,000
had been budgeted, but the final invoice total was going to be
around £173,000 which was the amount MyTime, the operator,
was due to pay under the contract. This
was indicative of the popularity of the Course.
In
response to a question, the Leisure Manager advised the Committee
that playing fees at the Golf Course were set by the operator in
line with their own business plan. It
was for the operator to balance the impact of high inflation and
increased costs against customer expectation of a fair
price.
RESOLVED: That the financial position of
the Cobtree Manor Estate as at 28 February 2023 be
noted.