Issue - meetings

This report advises the Conservators of the latest income and expenditure in 2017/18 as at 31 August 2017 and seeks guidance on the preparation of the budget and precept for 2018/19. It also provides an updated Risk Register for 2017/18.

The Conservators received a report advising them of income and expenditure in 2017/18 as at 31 August 2017, and seeking guidance on the preparation of the budget and precept for 2018/19. An updated Risk Register for the Downs for 2017/18 was also presented.

The Chief Accountant updated the Conservators on the external auditor’s review of the 2016-17 accounts, which had been received following publication of the agenda. The auditor had reported that the 2016-17 accounts provided a true and fair view, but had recommended changes to ensure due process is followed in approving the accounts, namely:

a)            Receipt of final accounts by the Conservators. The auditor had noted that the meeting of the Conservators on 14 June 2017 had been rescheduled, and that as a result, the Conservators had not received their final accounts until their meeting of 17 July 2017. The auditor highlighted the requirement that the Conservators receive and consider their final accounts before the end of June annually, and recommended that if the June meeting be rescheduled again in the future, it be moved to a date before the end of that month.

The Conservators noted that it was proposed to increase precept contributions by 2.0% in order to achieve a balanced budget in 2018/19. The Conservators were informed that there was a forecast £4,271 use of the working balance in the current year.

Following consideration, the Conservators agreed:

(1)          to note the mid-year income and expenditure position as at 31 August 2017;

(2)          to support the proposed 2.0% increase in precept contributions for 2018-19, for consideration at their meeting in January 2018;

(3)          to note the 2017/18 Risk Register for the Downs.