Agenda item

Revenue Budget Monitoring to December 2021

Report of the Chamberlain.

Minutes:

The Committee received a Report of the Chamberlain concerning revenue budget monitoring.

 

A Member highlighted the good progress being made at the Barbican Centre. The Chamberlain responded that the staff at the Barbican had been working hard to get its finances back on track and would be returning £1.7m to the corporate centre after it received last year an allocation of additional funding in response to income pressures caused by the pandemic. It was noted that a £900k deficit was projected over the coming year, which the leadership team have committed to closing; however, it was recognised that the short-medium term outlook for the Centre and the arts sector in general remained uncertain.

 

RESOLVED – That the Committee noted the Report.

 

Supporting documents: