In the absence of Cllr Joseph Bergin, Chairman of the Finance Committee of Alderley Edge Parish Council, Cllr Frank Keegan delivered a finance report at the Annual Council Meeting held on Monday, 12th May.
Cllr Keegan explained that the precept for 2014/2015 has been kept at £120,000 to enable a similar level of spending, continue the partial funding of the Police Community Support Officer Jim Newns, provide monies to maintain the Festival Hall, allow for the proposed redevelopment of the Festival Hall, fund the repayments required for the festive lighting loan* and pay for the services that Cheshire East are now charging for or are no longer providing.
Cllr Keegan said "The expected costs of a new entrance to the Festival Hall did not occur (but are now expected in 2014/2015) and a healthy cash balance is being carried forward.
"A separate account has been created in the Parish Council accounts for the capital spend on the Medical Centre and that expenditure will be transferred to the Capital Project when funding is in place. In facilitation, it may be necessary to spend some resources in pre-building site works."
The Parish Council's total income for 2013/14 was £195,480 - £120,000 of which was from the precept and £68,378 earnings from the festival hall (compared with £57,136 taken during the previous financial year) which includes a £15,000 dowry from Cheshire East.
The Parish Council spent £166,868 during the last financial year. The main items of expenditure were £101,722 operational costs for the Festival Hall, £53,923 administration costs (which includes salaries, and the contribution towards our PCSO), and £8740 on legal and professional fees for the medical centre project.
A balance of £197,076 has been carried forward to this financial year.
Click here to read Cllr Frank Keegan's finance report.
Click here to view a copy of the Income and Expenditure Account for the year ended March 31st 2014.
*An interest free loan of £20,000 was taken from Macclesfield Borough Council (now Cheshire East Council) in 2007/2008 to help fund the Christmas lights, repayable at a rate of £2,000 per year. The balance outstanding is now £8,000.
