PAPER E

Purpose : For Information

Committee : TOURISM PARTNERSHIP

Date : 29 NOVEMBER 2001

Title : FINANCIAL POSITION AS AT 31 OCTOBER 2001

REPORT OF THE STRATEGIC DIRECTOR FOR FINANCE AND INFORMATION AND COUNTY TREASURER

SUMMARY/PURPOSE

The report presents details of expenditure and income to date for the current financial year.

BACKGROUND

1. Further to a request at the last meeting of the Partnership, a statement detailing current expenditure and income against budget for the 2001/02 financial year is attached as Appendix A. The report also contains corresponding details in respect of the 2000/01 accounts.

2. A sum of ,8,200 in respect of Foot and Mouth expenditure is included in overheads, but these costs will be submitted as part of the Council=s Bellwin claim and it is anticipated that they will be reimbursed.

3. Income from the Call Centre is down 15% on the 2000/01 financial year, and if this trend continues it would present a projected shortfall in its budget of up to ,15,000. The fact that Easter falls in March 2002 could help alleviate any shortfall.

4. To date only ,1,715 of income has been generated by the Westridge Conference Centre, and this is estimated to result in a year end net shortfall of ,8,000 against that cost centre.

5. The low net expenditure to date compared with budget reflects normal activity patterns and the associated financial profile whereby much of Tourism=s income is generated prior to expenditure.

RECOMMENDATIONS

That the report be noted.

BACKGROUND PAPERS

None.

Contact Point : Gareth Hughes, F 823604

JOHN PULSFORD

Strategic Director for Finance and Information

and County Treasurer