Issue - meetings

The Committee is asked to receive and note the Nonsuch Park Joint Management Committee final accounts for the financial year 2017/2018.

The Committee received a report setting out the final accounts for 2017/2018.  It was noted that £22,000 had been transferred to reserves bringing the total to £178,000 which represented 49% of the Joint Management Committee’s annual gross expenditure.  It was further noted that most of the transferred sum had already been ear marked for repairs that had been budgeted for but not carried out in 2017/18 due to adverse weather conditions. 

Members were informed that although the reserves figure was higher than the 9% historic minimum threshold and there was no suggested maximum figure.  However, it was pointed out that the reserves figure should reflect the nature of the high costs associated with the maintenance and repair of the park and a grade II listed building. 

It was agreed to undertake a review of the Committee’s terms of reference and practices and bring a report before the Committee.  An explanation of the financial arrangements including an appraisal of the level of reserves will be included in the review.

Accordingly the Committee noted and received the final accounts for the financial year 2017/18.

The Committee is asked to receive and note the Nonsuch Park Joint Management Committee final accounts for the financial year 2017/2018.

This item was deferred to the next meeting.