Issue - meetings

This report seeks the Joint Management Committee’s approval of both the 2018/19 budget and the recommended precept to be levied on the constituent authorities.

The Committee were informed that the year-end working balance was forecasted to be approximately £134,000. 

No increase to contributions from Epsom & Ewell Borough Council and London Borough of Sutton had been forecast for 2018/2019, and it was noted that the sum of £99,400 each was acceptable.

The forecasted outurn of £4,500 against an initial forecast of £1,000 for electricity was discussed and Brendan Bradley (Chief Accountant) explained that invoices since 2013 had been based on estimated usage, and a one-off adjustment invoice had been received based on actual usage.  Going forward, usage should be easier to monitor in light of the installation of a separate meter for Friends of Nonsuch/Museum.

Accordingly, the Committee:

(1)            Noted the latest 2017/2018 forecast position

(2)            Agreed the revenue budget for 2018/2019 as set out in Annexe 1

(3)            Agreed to seek contributions of £99,400 from both Epsom and Ewell Borough Council and the London Borough of Sutton for the financial year 2018/2019.