Agenda item

Charter Trustees considered a report of the Treasurer that provided information on the actual expenditure compared to the profiled budget for the period ending 31 December 2014; and the forecast of expenditure to 31 March 2015 in comparison to the 2014/15 original budget (for copy see file of minutes).

The Treasurer reported that at 31 December 2014 actual net expenditure was £38,096; an underspend of £3,444 against a profiled budget of £41,540. It was anticipated that actual expenditure at 31 March 2015 would be lower than the original budget of £59,417 by £5,596. There would no longer be a requirement to draw from reserves to balance the budget; instead a contribution to reserves of £901 is expected.

The Treasurer responded to a query regarding categorization of expenditure and advised that he would look into how other bodies categorize and report back to Trustees.

Resolved:

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

(ii)       That the forecast outturn to 31 March 2015 be noted.