Issue - meetings

The Senior Finance Manager (Client) introduced his report summarising the financial position of the Cobtree Manor Estate as at 31 October 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:

The outturn position as at 31 October 2023 showed a surplus of £20,239 on operational activities, which was £10,496 more than budgeted for.  There were no significant issues to report, but the following points should be noted:

·  Golf course income was slightly down on the profiled budget, but the budget was set prior to the new contract being awarded, so the figure would be adjusted to reflect the new contract when the updated budgets were reported to the Committee in January 2024.

·  Most of the gas and electricity costs for the café would be recharged to the operator, but the Estate would retain the charges for the toilets and the staff area.  Once the exercise to calculate the recharges had been completed, invoices would be raised, and this should largely eliminate the overspend in this area.

·  No invoices had been raised for toilet cleaning to date.  Standards were under review and when they were more acceptable, invoices would be raised which would largely eliminate the underspend on this budget.

·  The shortfall in car parking income reflected the reduction in visitor numbers compared to 2022.  This budget would be reviewed to see if it should be reduced as it was set when visitor numbers were higher during the pandemic.

·  The income budget for the café would also need to be reviewed as the contract had been re-let since the budgets were agreed.

In response to a question, the Senior Finance Manager (Client) confirmed that the shortfall in car parking income reflected the reduction in visitor numbers, but car parking income was still at a healthy level.

RESOLVED:  That the financial position of the Cobtree Manor Estate as at 31 October 2023 be noted.