Issue - meetings

This report presents the annual report and accounts for the Trust for 2012/13.

RESOLVED:

(i)   that the annual report and accounts for 2012/13 be approved.

(ii) that the accounts for 2012/13 be submitted to the Head of Audit and Investigations for independent examination prior to submission to the Charities Commission

Mick Bowden (Operational Director of Finance) introduced a report to the committee setting out the draft Annual Report and Accounts for 2012/13. Members were reminded that the accounts included a greater level of detail than available in 2011/12, in accordance with the approach agreed with the Charity Commission. The Annual Report and Accounts were required to be submitted to the Charities Commission by 31 January 2014. It was proposed that prior to this deadline, they be subject to an independent examination by the Head of Audit and Investigations.

The committee was advised by Mick Bowden that during 2012/13 the Trust incurred expenditure of £20,579 on surveys for the future development of the park and buildings, funded from the cash funds held in reserve. After taking account of interest earned of £12,521, the cash balance of the Trust was now £628,310, which equated to an overall reduction of £8,058. General expenditure on the running and maintenance of the park and buildings reduced by £4,717 and income increased by £12,887. As a result the net contribution from Brent Council had reduced by £17,604 to £52,715.

RESOLVED:

(i)            that the annual report and accounts for 2012/13 be approved;

(ii)          that the accounts for 2012/13 be submitted to the Head of Audit and Investigations for independent examination prior to submission to the Charities Commission