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V26-190 : TRADING ACCOUNTS 1997/98

The Director of Waveney Contract Services circulated a report showing the final position of the Trading Accounts for 1997/98. The results showed a surplus of £224,000 which was an encouraging turn round from the deficit of £209,000 in 1996/97. One of the main reasons for the improved performance was an increased workload on the Maintenance Account, although this would not necessarily be sustainable for 1998/99.

The deficit in 1996/97 was funded from the Direct Services Reserve fund, which was established to cover such eventualities, and it was proposed that the surplus for this year be returned to the Reserve Fund and it increased to £300,000 to safeguard against any future deficits.

RESOLVED

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

2. That the Trading Account surplus of £224,000 be returned to the Direct Services Reserve Fund, and the level of the Fund increased to £300,000.

Volume 26 Minute 190

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