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 28 February 2015; and the forecast of expenditure to 31 March 2015 in comparison to the 2014/15 original budget (for copy see file of minutes).

The Assistant Finance Manager reported that at 28 February 2015 actual net expenditure was £46,389; an underspend of £5,383 against a profiled budget of £51,772. It was anticipated that actual expenditure at 31 March 2015 would be lower than the original budget of £59,417 by £6,000 and there would no longer be a requirement to draw from reserves to balance the budget; instead a contribution to reserves of £1,305 is expected.

In response to a query at the meeting on the 21 January 2015 regarding categorization of expenditure, the Assistant Finance Manager advised that the Sergeants at Mace / Bodyguard expenditure had been moved to the Transport category under a separate heading.

Resolved:

(i)        That the outturn position for the period ended 28 February 2015 be noted.

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