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Issue - meetings

Financial Position 2018/19

Meeting: 07/11/2018 - Cobtree Manor Estate Charity Committee (Item 33)

33 Financial Position 2018/19 pdf icon PDF 67 KB

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Mr Paul Holland, Senior Finance Manager (Client) presented his report which summarised the current financial position of the Estate as at 30 September 2018.


The Committee noted that there was an overall positive variance of £7,000 over the four service areas.


It was noted that:-


·  A budget would be set up for VAT costs.

·  The Sage financial management system was considered the most suitable and implementation was intended for January 2019.

In response to questions from Members, Mr Holland advised that:-

·  The gas and electricity charges for the Café were still the responsibility of the Trust.

·  Trade refuse would have to be separated out as waste arising from the bins in the park needed to be paid for by the Trust. 

·  There had been ongoing discussions with the Café Contractor, DAGT concerning recharges for staff seconded over to them during the transition period.  Officers were confident that this would be resolved shortly.

·  He would clarify with colleagues whether the Trust should pay VAT on departmental recharges and report back. 




1.  The current financial position be noted.

2.  The progress to date with the separate financial management system be noted.

3.  Officers clarify the position on whether the Trust had to pay VAT on departmental recharges.

Voting:  Unanimous