Issue - meetings

To consider the report updating on the Trust’s financial position.

Richard Paterson, Director of Finance & Resources introduced the report and outlined the following:

• Progress had been made on capital projects following additional funding from the council as listed in the report. There were replaced visitor services desk and new bar in the east court.

• Distribution board works were a huge project, and the Charity was taking the opportunity to replace boards across the site as capacity in budgets allowed.

• The 2023/24 forecast showed a deficit of £499k.

• APTL had a good 2022/23. It will contribute a significant and record sum which will be effective in the figures for next year. Contribution was equivalent to £2.4m in comparison to the initial 2m to underwrite from the Council.

• Car Parking came into effect in July 2023 to achieve a planned contribution of £115,000 based on income of £495,000. Insurance has gone up by 10% and estate guarding by 3%. There was no change in the contracts, this is just by general inflation.

• The Trust still had loans outstanding with the Corporate Trustee, some of which dated back to 2016. Repayments had recommenced in this financial year.

RESOLVED

To note the 2022/23 full year position and approve the 2023/24 Budget.