Issue - meetings

To consider the report of the Director of Finance, Alexandra Palace

On behalf of the Board, the Chair welcomed Nigel Watts, new Director of Finance.

RECEIVED the report of the Director of Finance - Alexandra Palace, as set out in the report. The Chair stated that the performance of the Trading Company was very gratifying and asked that the Board’s appreciation be communicated to the team.

RESOLVED

i)                    That the Board note the results for the nine months to 31^st December 2011.

ii)                  That the Board note that the Trust is expecting to make a £500k reduction to its £2.102m deficit budget for 2011/12, subject to the risks set out in 7.4 of the report, and to reinvest the £500k saved into the regeneration programme, including capital improvements.

iii)                That the Board approve the Trust’s budget for 2012/13, which also shows a £500k saving against an original deficit position of £2.1m, with the £500k saving being reinvested in regeneration as above.

iv)                That Nigel Watts, the Finance Director, be added to the list of approved cheque signatories.