Agenda item

Charter Trustees considered a report of the Treasurer which provided information on the actual expenditure compared to the profiled budget for the period ending 31 January 2014 and the forecast of expenditure to 31 March 2014 in comparison to the 2013/14 original budget (for copy see file of minutes).

The Treasurer reported that as a result of the roles of Mayor of the City of Durham and Chairman of Durham County Council merging, it was anticipated that the actual expenditure at 31 March 2014 would be significantly lower than the original budget by £44,652. There would no longer be a requirement to draw from the reserves, instead a contribution to reserves of £33,376 was anticipated.

Resolved:

(i)            That the outturn position for the period ended 31 January 2014 be noted

(ii)          That the forecast outturn to 31 March 2014 be noted.