ITEM CA5 SUPPLEMENT
CABINET – 18 NOVEMBER 2007
FINANCIAL MONITORING
Report by Assistant Chief Executive & Chief Finance Officer
Floods
1. Paragraph 21 of the Financial Monitoring report, CA5 on the agenda, makes reference to a possible request for a further supplementary estimate in recognition of income losses at The Mill Arts Centre, Banbury, as a consequence of the July floods.
2. The loss of income to the centre resulting from closure has now been determined and a supplementary estimate of £0.026m is requested.
3. The request for a supplementary estimate is being made on the understanding that The Mill Management Committee will in future be responsible for loss of income if flooding reoccurs.
4. When added to the other requests for funding as a consequence of the floods, a supplementary estimate totalling £0.981m is now requested.
5. As set out in the main report, further requests are expected to come forward later in the year as costs associated with the flooding are still being incurred.
RECOMMENDATIONS
1. The Cabinet is RECOMMENDED to approve the supplementary estimates totalling £0.955m as set out in Annex 2c to the main report plus the supplementary estimate of £0.026m as set out in paragraph 2 of the addendum.
SUE SCANEAssistant Chief Executive & Chief Finance Officer
Background papers: Directorate reports
Contact Officers: Lorna Baxter Tel: 01865 816087
November 2007
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