Issue - meetings

This report presents the annual report for the Barham Park Trust for 2019/20.  There is a statutory requirement to produce an annual report, including the accounts each financial year.

AGREED

(1)      To approve the annual report and the Barham Park Trust Accounts for 2019/20 and authorise officers to file the report with the Charity Commission.

(2)      To approve the Barham Park Trust accounts for 2019/20 and delegate authority to the Operational Director – Environmental Services to make any minor adjustments to the accounts arising from the query on expenditure on utilities identified by the Independent Examiner, and to file the accounts for 2019/20 with the Charity Commission.

(3)      To note the Independent Examiners review of the Barham Park Trust accounts for 2019/20.

Jekaterina Popova (Senior Financial Analyst) presented the Annual Report and Annual Accounts for 2019-20.  It was noted that the Trust had incurred expenditure of £86,320 on maintenance of the building complex and the park, and generated £100,674 receipts from rental income and interest earned.  This had led to the cash balance held by the Trust increasing by £14,354 to £502,651.  Out of this £389,052 consisted of restricted funds and £113,600 unrestricted funds. There was also a total of £27,313 of expenditure from the Trust’s restricted funds in the 2019/20 financial year up to 31 March 2020. General expenditure on the running and maintenance of the park and buildings had decreased by £17,838 compared to 2018/19 with income having decreased by £660.

The Committee’s attention was also drawn to the Independent Examiners report, attached as Appendix C to the report.  Whilst this had confirmed that there were no issues regarding the accounts which needed to be brought to the Committee’s attention members were advised of a minor adjustment that may be required to the accounts in relation of the Payments under Premises – Utility.  In previous years the accounts had included a payment for utilities, however no payments had been included within the 2019/20 accounts.  Further review was being undertaken by the Finance Team and depending on the outcome the Committee was advised there may be a need for a minor adjustment to be made to the final accounts.

Members were also advised of the potential impact of the proposals included for consideration within the General Update report in relation to rent abatement and/or deferrals given the proportion of income generated through the Trusts rental income account, which it was noted would require review on a case by case basis.

Having considered the report it was RESOLVED

(1)      To approve the annual report and the Barham Park Trust’s Accounts for 2019/20 and authorise officers to file the report with the Charity Commission.

(2)      To approve the Barham Park Trust’s accounts for 2019/20 and delegate authority to the Operational Director for Environmental Services to make any minor adjustments to the accounts arising from the query on expenditure on utilities as identified by the Independent Examiner and to file the accounts, for 2019/20 with the Charity Commission.

(3)      To note the Independent Examiner’s Review of the Barham Park Trust’s Accounts for 2019/20.