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 30 September 2016; and the forecast of expenditure to 31 March 2017 in comparison to the 2016/17 original budget (for copy see file of minutes).

The Treasurer reported that at 30 September 2016 actual net expenditure was £38,171; an underspend of £5,158 against a profiled budget of £40,829. It was anticipated that actual expenditure at 31 March 2017 would be slightly lower than the original budget, therefore the sum required to be drawn from reserves to balance the budget would therefore be expected to reduce from £10,550 to £5,550.

Councillor Martin referred to the hospitality expenditure and asked for clarification on why the actual hospitality to service Durham City was down from previous years. The Mayor explained that recent changes to the Chairman of Durham County Council and The Mayor of Durham protocol may have had a knock on effect on hospitality expenditure and noted there had been fewer functions. He advised that the hospitality expenditure would be investigated.

Resolved:

i)     That the outturn position for the period ended 30 September 2016 be noted;

ii)    That the forecast outturn to 31 March 2017 be noted.