Issue - meetings

To approve the budget as recommended by the Board on 15 March 2022.

The CEO gave a finance update, which highlighted:

-     The Trust was at risk of going into deficit. This was at present manageable, and the Trust was in regular discussion with the Corporate Trustee. Presently there were sufficient reserves, these would be bolstered through the implementation of the new car parking system.

The following responses to questions were provided:

-     It was thought that the new car parking system would increase revenue. The figures that the Trust had put forward were considered conservative, which factored in staffing costs. The Trust was confident that the figure would increase over time, offsetting concerns around the deficit; and

-     It was acknowledged that the current situation in Ukraine would result in further energy increases. These increases would impact the Trust. This impact was minimised through the investment in Salix lighting. The upcoming sustainability audit, from Julie’s Bicycle, would also cover potential immediate and strategical cost savings.

RESOVLED

To approve the budget as recommended by the Board on 15 March 2022.