EU row holds up payment
SHEFFIELD Chamber of Commerce has been caught in the crossfire of an argument over funding for a European Union project.
The Chamber has had to make a 383,483 provision in its latest accounts, slashing its trading surplus from 255,000 in 2006 to 3,568 because it has yet to be paid for an EU project.
Argument centres around whether other partners provided the funding they were meant to in order to match the EU support for the project, carried out by the Chamber’s South Yorkshire International Trade Centre subsidiary.
Chamber Chief Executive Nigel Tomlinson said: “We have informed members that there is a balance outstanding to the company for which we have yet to receive payment.”