The Committee considered the report of the Head of Finance and Resources setting out details of the financial position in respect of the Golf Course and the Manor Park as at 31 May 2013.  The report also included details of capital expenditure and total investments held.  It was noted that:-

·  No significant financial issues had arisen during June and both the Golf Course and the Manor Park were running within budget at present.  The market value of the endowment funds invested with Charifund had risen to £1.577m.

·  The budget for the implementation of the Master Plan had been set at £1.065m.  To date there had been expenditure of £547,083 on Phase 1 works, and funding to the value of £296,000 was being drawn down from the endowment fund to cover the expenditure in the 2012/13 financial year.

RESOLVED:  That the financial position in respect of the Golf Course and the Manor Park be noted.