The Alexandra Palace and Park Board met on Monday 26 February 2024 to discuss a range of updates and financial matters. Key decisions included the approval of revised terms of reference for the Finance, Resource, Risk and Audit Committee (FRRAC) and the outline budget for 2024/25.

Chief Executive's General Update Report

CEO Emma Dagnes presented a comprehensive update on various activities, including Creative Learning, Park, Property, and Events. The Board noted the progress on several projects:

• The Grove Masterplan: The public engagement exercise, Shaping The Grove, is underway with an online survey open to gather feedback. Testing of ideas through free events in the Grove is planned for April.
• North East Office Building (NEOB) Repairs: The first phase to make the NEOB watertight is in progress and expected to finish in May 2024.
• Campsbourne Building Reactivation: Efforts are ongoing to address a funding gap to bring the building up to the required standards for public access.
• Northern Area of the Park: An online visitor survey has been launched to gather feedback on the skatepark, playground, and Boating Lake to support improvement projects and funding requests.
• The People's Picture (150 Lifetimes): This project, culminating in a giant mural in the East Court, is progressing, with statutory applications being prepared for submission.
• Café Restaurant: The project is moving through the RIBA stages, with layout designs being developed and discussions planned with the Planning Authority.

The report also detailed maintenance and repair works undertaken in November, December, January, and February across various areas of the Palace and Park.

In the Park and Environmental Sustainability section, Mark Evison, Head of Park and Environmental Sustainability, provided updates on rubbish collection, volunteer activity, traffic improvements, and memorial benches. It was noted that on New Year's Eve, an estimated 6,000 visitors attended the park. Councillor Sean O'Donovan raised concerns about the condition of notice boards, which are planned for refurbishment. A discussion also took place regarding the temporary concrete and plastic barriers on the Main Road, which were installed for safety during Covid-19.

The Creative Learning update highlighted ongoing projects for Alexandra Palace's 150th Anniversary, including an exhibition and mural. The Alexandra Palace's Young Actors Company is working on a version of Macbeth, and a Biblio-buzz tour of literary activities is being finalised with Haringey and Enfield Libraries. Rhythm Stick, a nightclub for adults with disabilities, took place in December.

The Board noted the content of the report and the feedback from the stakeholder committees.

Feedback from, Resource, Risk and Audit Committee (FRRAC)

The Board considered the report from the Chair of FRRAC and approved recommendations from the 19 February FRRAC meeting. These included noting the feedback from FRRAC, approving and adopting the amended Terms of Reference for FRRAC, approving the Risk Register, and noting the 2024/25 draft budget information. It was also noted that a proposal to review the APTL Licence Fee was subsequently decided against.

FRRAC Terms of Reference

The Board approved the reviewed terms of reference for the Finance, Resource, Risk and Audit Committee (FRRAC) for adoption with immediate effect. These amendments aim to clarify the role of FRRAC, tidy up language, and address issues related to the committee's quoracy. The terms of reference were last reviewed in November 2018.

Finance Report

The Board received the Finance Report, which updated on the Trust's financial position and presented the draft budget for 2024/25. Richard Paterson, Director of Finance & Resources, introduced the report.

Key financial points for the Trust:

• 2023/24 Full Year Forecast: The Trust is forecasting an operating deficit of £433,000, which is £107,000 better than budgeted. This improvement is partly due to higher-than-anticipated Gift Aid income and savings in energy costs and salaries. However, car parking income is down due to project delays.
• 2024/25 Outline Budget: The Trust is forecasting a deficit of £1,012,000, an adverse variance of almost £600,000 from the current financial year. This is attributed to a decrease in expected Gift Aid and increased costs in areas such as salaries and other administrative expenses. Assumptions for the budget include a stable corporate trustee revenue grant, a projected Gift Aid from the Trading Company of £2,000,000, and no unrestricted fundraising income recognised due to a strategic focus on capital projects.
• Licence Fee and Cost Sharing Agreement: The report recommended a review of the licence fee and cost sharing agreement, as the current structure has been in place for several years. A methodology from a 2019 consultancy report is suggested for this review.

The Board resolved to note the full year forecast for the Trust, approve the outline budget position for 2024/25, and note the Trust's intention to undertake an internal review of the Trading Subsidiary Licence Fee and Cost Sharing agreements.

Decisions Tracker

The Board was informed that there were no decisions taken since the last reported meeting.