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V25-180 : FINAL ACCOUNTS 1996-97 - PROGRESS REPORT

The Committee were advised that the year end trading figures were not yet available as significant work was required in the areas of maintenance, particularly housing and highways.

The Director of Central Services advised that whilst some transactions were outstanding under the auspices of the 1988 Act, those accounts would appear to return a surplus. For services under the 1980 Act, further work was required to close some outstanding jobs from 1995-96 in order to finalise the position for 1996-97. Return figures for services under the 1988 Act would be met, but those under the 1980 Act were likely to show a substantial loss. The final figures would be presented at the next meeting, identifying reasons and measures for this year.

The Director of Central Services circulated an 'aide-memoire' on the working differences of Direct Services to the other Committees in financial terms, to assist the new members. From 1980 nearly every target figure had been hit. He drew attention to the previous year's 'profit' of £178k on a turnover of £10.4 million, which exemplified the fine margins worked to. 1996/97's losses would be met from the retained revenue reserve of £250k, and the Department would look to rebuild this reserve figure in the future.

RESOLVED

That the report of the Director of Central Services be received, the content of the Final Accounts 1996/97 progress report be noted, and a full report be brought to the next meeting.

Volume 25 Minute 180

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