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.