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V25-892 : TRADING ACCOUNTS 1997/98

The Committee considered the joint report of the Director of Waveney Contract Services and the Director of Central Services on the 1997/98 Trading Accounts position which had been requested following last year's unexpected poor results.

The Director of Waveney Contract Services gave a detailed explanation of the published table and identified the following key elements which needed to be determined in order to be successful:

(i) Expenditure - should be well controlled in order to know the current position at all times;

(ii) Income - at the beginning of the year targets would be set, and at each point during the year it was necessary to know whether these targets were being achieved and to ensure that income exceeded expenditure.

(iii) The relationship between income and expenditure - measured with reference to targets set at the beginning of the year.

He then explained the figures in each column and members had the opportunity to ask questions.

RESOLVED

That the monitoring report on Trading Accounts 1997/98 be received.

Volume 25 Minute 892

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