Issue - meetings

Mid-Year Budget Monitoring

Meeting: 30/10/2017 - Nonsuch Park Joint Management Committee (Item 18)

18 Mid-Year Budget Monitoring pdf icon PDF 71 KB

This report advises the Nonsuch Park Joint Management Committee of the mid-year financial position for 2017/2018 and the forecast outturn.

Additional documents:


The Committee received a report detailing the 2017/2018 budget, actuals and current forecast.  Brendan Bradley, Chief Accountant for Epsom & Ewell Borough Council reported that at the meeting in June, a £16,815 surplus had been budgeted, however this had now been revised and a £9,152 deficit was expected.  The reasons for the adverse forecast variance of £26,000 were explained and it was noted that these were all ‘one off’ expenditures.

The income and expenditure from memorials was discussed and it was noted that currently expenditure totalled £2,046.00 against an income of £1,500.00.  It was anticipated that by the end of the financial year there would not be a budget deficit, and the Streetcare Manager agreed to submit a report to the Committee in January 2018 outlining plans to increase income.

Whilst there was still uncertainty around the forecast, it was unlikely that there would be the surplus required to fund consultants to prepare the Heritage Lottery Bid.  However it was reported that until the source of the match funding required to start the bid process could be identified, the project could not be taken forward.  It was agreed that a report updating the Committee on the progress of the bid would be provided at the next meeting.

Prior to the mid-term accounts being submitted, it was agreed that discussions would take place between representatives of Epsom & Ewell Borough Council and the London Borough of Sutton to resolve any discrepancies.