Issue - meetings
Review of Hire Charges, King George’s Field Trust (KGFT)
Meeting: 06/07/2022 - King George's Field Charity Board (Item 4)
4 Review of Hire Charges King George’s Field Trust Report PDF 239 KB
Additional documents:
- Appendix 1 Subsidised Hires Policy, item 4 PDF 191 KB
- Webcast for Review of Hire Charges King George’s Field Trust Report
Decision:
The Board received a report that asked for approval for a review of:
A. hire charges for the Arts and Ecology Pavilions to be agreed by the King George’s Field Trust (KGFT) board, which would come into effect for bookings from the 1 April 2023; and
B. the King George’s Field Trust policy regarding subsidised hire charges for use of the Arts and Ecology Pavilions by community groups.
The Board: |
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Minutes:
The Board considered a report seeking approval for a review of hire charges for the Arts and Ecology Pavilions to be agreed by the King George’s Field Trust (KGFT) board, which would come into effect for bookings from the 1 April 2023. In addition, this report sought approval for a review of the King George’s Field Trust policy regarding subsidised hire charges for use of the Arts and Ecology Pavilions by community groups. The main matters considered maybe summarised as follows:
The Board noted that:
v The Arts and Ecology Pavilions are a significant source of income for KGFT.
v Costs for operating and maintaining the Arts and Ecology Pavilions are increasing due to rising inflation, increased utility rates and operational costs (including staffing) and therefore a review of the current hire rates is recommended.
v The hire rates for both pavilions have not been reviewed since 2014 and are now well-established wedding and private hire venues.
v A review of corporate, commercial, and private hire rates is recommended to ensure that KGFT is offering the pavilions at appropriate hire rates for the client base and activity.
v It is proposed that the findings of the review, including any recommended increases to hire fees, are presented to the KGFT board in the autumn. If approved, any revised charges would apply to corporate, commercial, and private bookings from 1 April 2023.
v In parallel to a review of corporate, commercial, and private hires, a review of KGFT’s policy on subsidised hire charges is also proposed.
v In March 2018 a policy for subsidised hire rates for community groups was approved by the KGFT board. (Appendix 1 of the report refers). However, since the subsidised hire policy was agreed the charity’s financial position has been adversely impacted by the coronavirus pandemic. In addition, there has been a significant increase in maintenance costs in part due to increases in contractor and product costs but also due to the higher level of usage. Casual staff and security costs have also increased. Therefore, a review of the subsidised hire policy is recommended to protect the ongoing viability of the venues and to support the KGFT’s revenue streams and delivery of its charitable objectives.
v If approved, the review for both the hire charges and the subsided rates, would include reviewing: current and predicted increased utility costs, waste removal costs, enhanced cleaning costs, wear and tear maintenance, replacement (furniture and facilities) staffing and security. In addition, officers would undertake a benchmarking exercise of similar venues and consult with industry experts to ascertain current client trends and expectations regarding price and service offer.
Accordingly, the Board:
1. Approved a review of hire charges for the Arts and Ecology Pavilion that would be applied to bookings from 1 April 2023; and
2. Approved a review of KGFT’s subsidised hire policy for the Arts and Ecology Pavilions.