Agenda item

To receive the report from the Responsible Financial Officer (RFO).

The committee received the report of the Responsible Financial Officer (RFO) who apologised for the late delivery of the report to the Committee owing to additional work commitments.

The RFO summarised his reports which outlined a general underspend on the grounds maintenance cost but included there had been a significant spend on machinery since the council took the contract back in house. Members also received an update regarding energy costs including how these should soon show a decrease for Burwell Hall following the new boiler installation; the operations team would review the performance in 3 months and review the projected budget for 2024/25 accordingly.

Costs for the Corn Exchange saw an increase; the RFO outlined this was mainly due to the recruitment of a Bar & Café Manager, however she would be looking at the reduction of costs and greater efficiency across the 1863 Café which should lead to better margins of profit.

Members expressed a concern that if there were to be increases in the cost of purchasing from the Café, that some of the loyal clientele may be put off and cease frequenting the venue, they asked that this was borne in mind as the café offered a warm and safe place to many individuals.

Recommended:

1. That, the report be noted.
2. That, the revised base revenue budget for 2023/24 and the initial estimated base revenue budgets for 2024/25, as detailed in the draft estimates be agreed, noting that they may change in the final completed budget.