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Financial Position 2012/13

 

 

Meeting: 14/11/2012 - Cobtree Manor Estate Charity Committee (Item 24)

24 Charity Known as the Cobtree Manor Estate - Financial Position 2012/13 pdf icon PDF 49 KB

Additional documents:

Minutes:

The Committee considered the report of the Head of Finance and Customer Services setting out details of the financial position in respect of the Golf Course and the Manor Park as at 30 September 2012.  The report also included details of capital expenditure, deposits held and total investments.  It was noted that:-

 

·  No significant financial issues had arisen during October/November to date and both the Golf Course and the Manor Park were operating within budget at present.

 

·  The market value of the endowment funds invested with Charifund had fallen to £1.338m, but this was still higher than the purchase value.  This was important as endowment funds would be drawn down to implement the Master Plan over the next few years.

 

The budget for the Master Plan had been set at £1.065m.  To date there had been expenditure of £65,655 on Phase 1 works in relation to the play area, but no endowment funds had yet been drawn down.

 

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