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Issue - meetings

2nd Quarter Budget Monitoring

Meeting: 30/10/2018 - Heritage, Culture and Leisure Committee (Item 86)

86 2nd Quarter Budget Monitoring 2018/19 pdf icon PDF 59 KB

Additional documents:

Minutes:

Mr Mark Green, the Director of Finance and Business Improvement presented his report on the 2nd Quarter Budget Monitoring 2018/19.

 

The Committee noted that there was an underspend against the revenue budget of £106,000 but this was expected to change to an overspend of £16,000 by the end of the financial year.

 

Mr Green explained that there were some significant variances that had contributed towards underspend which included the delay in the opening of the Adventure Zone and the shortfall in income at the Market.

 

It was also noted that some capital expenditure had slipped to next year, due to the Mote Park Dam works taking longer than expected to complete and the Visitor Centre detailed design discussions being delayed.

 

In response to a question from a Member of the Committee, Mr Green advised that:-

 

·  There had been a long term trend of decline in Markets nationally although at Maidstone the Tuesday Market had remained stable.

·  The Internal Audit team would consider how the Market was accounted for as the Market Manager had little jurisdiction over his budget.  An investigation would follow the Audit into how to rejuvenate the Market to improve its performance.  Officers were working on improvements to the I.T. network to enable Officers at the Market to use wifi and social media.  This report would come back to the Committee in the Spring.

 

RESOLVED:  That

 

1)  The revenue position at the end of the second quarter and the actions being taken or proposed to improve the position, where significant variances have been identified, be noted.

2)  The capital position at the end of the second quarter be noted.

3)  That a report on the Market be presented to Committee in April once Internal Audit had provided their findings.

Voting:  For: unanimous