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 2015; and the forecast of expenditure to 31 March 2016 in comparison to the 2015/16 original budget (for copy see file of minutes).

The Treasurer reported that at 31 December 2015 actual net expenditure was £41,553; an underspend of £5,319 against a profiled budget of £46,872. It was anticipated that actual expenditure at 31 March 2016 would be slightly lower than the original budget of £60,896 by £4,478. The sum required to be drawn from reserves to balance the budget was therefore expected to reduce from £6,883 to £2,405.

Resolved:

(i)         That the outturn position for the period ended 31 December 2015 be noted;

(ii)        That the forecast outturn to 31 March 2016 be noted.