Mr Paul
Holland, the Senior Finance Manager, presented a report on the
current financial position of the Estate as at 30 November
2017.
The
Committee noted that the overall budget forecast for the estate
activities would show an overall deficit position of £27,250
for the year. However, taking into
account the estimated investment income of £50,000, it would
project resources increasing by £22,750 for
2017/18.
In
response to questions from Members, Mr Holland advised
that:-
·
Income for the estate would remain about the same
even though the Café would be operated by a private
Contractor as the Council would receive 8% of their
turnover.
·
Mytime,
the Contractor for the Golf Course, would be invoiced quarterly in
advance rather than annually. Mr Holland committed to confirming
with Members once this arrangement was in place.
·
He would investigate whether it would be feasible to
move invoicing Kent Life to quarterly rather than a year in arrears
and would advise Members what sums had been paid to date.
RESOLVED:
That the current financial position be noted.