Issue - meetings

This report presents the annual report for the Barham Park Trust for 2018/19.  There is a statutory requirement to produce an annual report, including the accounts each financial year.

RESOLVED:

i)  That the annual report (Appendix A) and the Barham Park Trust’s accounts (Appendix B) for 2018/19 be approved;

ii) That the Independent Examiner’s Review of the Barham Park Trust’s accounts for 2018/19 (Appendix C) be noted.

iii) That officers be authorised to update the Charity Commission with the annual report and the accounts for 2018/19 of the Barham Park Trust.

Olufunke Adediran (Head of Finance) presented the Annual Report and Annual Accounts for 2018-2019 to the committee, noting that during 2018/19 the Trust incurred expenditure of £76,845 on maintenance of the building complex and the park, and generated £101,334 receipts from rental income and interest earned, which has led to the cash balance of the Trust increasing by £24,489 to £488,297. It was explained that out of this total sum of £488,297, the sum of £416,364 consists of restricted funds and the sum of £71,933 consists of unrestricted funds. There was no expenditure from the Trust’s restricted funds in the 2018/19 financial year up to 31 March 2019.  General expenditure on the running and maintenance of the park and buildings decreased by £22,240 compared to 2017/18 and income increased by £1,417. The committee’s attention was also drawn to the Independent Examiner’s report, attached at Appendix C to the report which confirms that there were no issues regarding the accounts to be brought to the Committee’s attention.

The committee subsequently RESOLVED:

i)  That the annual report (Appendix A) and the Barham Park Trust’s accounts (Appendix B) for 2018/19 be approved;

ii) That the Independent Examiner’s Review of the Barham Park Trust’s accounts for 2018/19 (Appendix C) be noted.

iii) That officers be authorised to update the Charity Commission with the annual report and the accounts for 2018/19 of the Barham Park Trust.