Issue - meetings

To consider a report of the Group Account.

The Group Accountant set out the financial outturn report for 2018/19.  Members were informed that the panel had agreed its budget for 2018/19 at a meeting in January 2018.  Expenditure was set at £41,424, income budget at £211,448 leaving an estimated surplus for distribution of £170.024.

The panel noted that the total expenditure for the year was £46,703 compared to the estimated budget.  The main variance was on investigating and repairing a major water leak on the site. In addition £20,172 from the Market Maintenance Earmarked Reserve had been used to fund repair/replacement of roof to the North Linneys and former cattle market building and the installation of a CCTV system.

The Group Accountant confirmed that income from the market continued to be in decline with the total income for the year was £188,643 compared to the estimated budget and the surplus available for distribution was £141,940 compared to a budget of £170,024.

Decision

That the income and expenditure statement for 2018.19 be approved.