Agenda item

To receive and consider the report of the Responsible Financial Officer (R.F.O).

The Committee received and considered the report of the Responsible Financial Officer (RFO) detailing income and expenditure for budgets which were the responsibility of the committee.

Ahead of the meeting a non-committee member had asked a question regarding the £30,000 commuted sum shown against the cost centre for Unterhaching play area. The Town Clerk explained how this was derived and the terms attached to such amounts. On this occasion, as far as she was aware, this money was available to spend on the play area to maintain it. However, this did include the maintenance of the Copse as well as the play equipment, dry stone wall and lighting. The Town Clerk advised that at year-end this money would go into an earmarked reserve to ring fence it for future use.

Members were also advised how commuted sums were generally negotiated and how they used to be invested to maximise a return for use on the upkeep of such areas.

A Member asked for clarification as to what action would be taken if the £4,000 sport equipment 203/4046 budget line remained unused for the 2024/25 year to which the Town Clerk confirmed that it would be rolled over into an earmarked reserve.

Resolved:

That, the report and the verbal update by the Town Clerk be noted.