Agenda item

Joint report of the Chamberlain and the Director of Markets and Consumer Protection (copy attached).

This report compared the 2011/12 Revenue Outturn for the services overseen by the Committee, with the final agreed budget for the year.  Members were pleased that the information in Annex B1 had been presented in a conventional accounting style.  In responding to questions, the Director of Markets and Consumer Protection advised that, since October 2011, he had been reporting to three Committees and the Markets charge was an apportionment of this.  Members also noted that the information set out in Annex B1 referred to the individual market operating costs and that the Markets Directorate and other overhead costs were not included. 

Members also noted that rent at Smithfield had been frozen since December 2009, pending resolution of the on-going lease negotiations.  Once they had been concluded or determined by the Court, the City would be seeking an Interim Rent for the intervening period.  Members asked for more clarity on Annex B1 in future reports to make it clear that it showed only operating costs.

RESOLVED

That the Revenue Outturn Report for 2011/12 and the budgets proposed for carry forward to 2012/13 be noted.