Issue - meetings

That the revenue budget position as at September 2015, the predicted outturn to 31 March 2016 and the actions being taken to control the potential adverse variance be noted.

The Head of Finance and Resources, Paul Riley, introduced the report detailing the financial analysis of the Committee’s services in the second quarter of 2015/16. The Committee was informed that there had been improvement on the first quarter, but the Museum continued to present an underlying problem.

In response to questions it was explained that:

·  Large exhibitions at the Museum could be lucrative but were risky to put on due expense and spatial restrictions. The Brick City exhibit – featuring famous structures crafted using lego - had provided cross-generational appeal and had been sponsored. This would not be achievable with all exhibitions.

·  The Museum shop had a projected outturn of -£23,430.00. Should this reach -£30,000.00 it would become a significant concern, at which point the issue would come back to the Committee.

RESOLVED:

That the revenue budget position as at September 2015, the predicted outturn to 31 March 2016 and the actions being taken to control the potential adverse variance be noted.

For – 9  Against – 0    Abstain – 0