Issue - meetings

Report of the Head of Finance – Alexandra Palace – To present the results against budget for the period ending 31^st August 2011 and the reforecast to year end.

The Board received an update on the Charitable Trust’s finances as set out in the report (pages 25-29 of the agenda pack), introduced by Helen Downie (Head of Finance, Alexandra Palace). Ways to reduce the £90k funding gap were being considered but the forecasted outturn was still on target for the year and there were a number of risks as highlighted in paragraph 6.7 of the report.

RESOLVED

i.          That the results for the five months to 31^st August 2011 be noted;

ii.         That the forecast to remain within the £2.102m budget allocation for the year and the key risks outlined in section 6.7 of the report be noted; and

iii.        That the removal of Andrew Gill and the appointment of Duncan Wilson to the bank mandate be approved.