The Bedfont Lakes Trust is facing a budget shortfall despite an increase in its investment fund, the Bedfont Lakes Trust Panel heard on Wednesday. The panel met to discuss the Trust's budget, accounts, and future plans, with Councillor Adesh Farmahan appointed as Chair and Councillor Aysha Tariq as Vice-Chair.
The Trust's income primarily comes from interest and dividends. According to the Minutes Public Pack 20112024 Bedfont Lakes Trust Panel, income had fallen compared to the previous year, partly due to windfall payments in the previous year creating a spike, and expenditure was slightly up, resulting in a £5,325 shortfall in 2023/24.
Vicky Couchman, Strategic Finance manager, presented the report on the Trust's accounts for 2024/2025 and the proposed budget for 2026/2027. While the accounts showed the shortfall, the Trust's investment fund had increased by around £300,000 because the value of investments had increased. The fund managers, Cazenove, explained that the income had not risen in line with total value because they endeavoured to smooth out income over the long term and 2023/24 had shown great monthly volatility.
The proposed budget for 2025/26 also indicated a shortfall of £27,418. Ms Couchman advised that this could be absorbed in the short term due to a large balance in capital, and that income should increase in the long term.
Ms Galvin, Head of Parks, Development and Green Infrastructure, also provided an update on planned improvements to Bedfont Lakes. She said that upgrades were 'waiting to happen' and described the area as tired and in need of improvement. Councillor Raghwinder Siddhu stated that the walk through was in particular need of investment and was badly overgrown. Ms Galvin advised that the area wasn't just for recreation and was an extremely important habitat for wetland birds among other flora and fauna.
Community Infrastructure Levy funding had been used to address health and safety issues, such as replacing or removing unsafe bridges and decking. The team were also looking into what could be done to improve Bedfont Lakes and asking what both residents and the council wanted. Potential commercial opportunities were being examined to ensure the site could effectively pay for itself, with educational opportunities being one example. Ms Galvin emphasized that the 'wildness' of the site was essential and ecologically vital to retain, and that this did not preclude possible ways to raise funding from the site.
Consultation, which would include the Panel, had begun and was expected to take around six months. Ms Galvin cautioned that all this would take time but officers were working hard on the matter.