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 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 31 December 2016 actual net expenditure was £46,236; an underspend of £9,298 against a profiled budget of £55,534. It was anticipated that actual expenditure at 31 March 2017 would be slightly lower than the original budget of £65,567 by £5,377. The sum required to be drawn from reserves to balance the budget was therefore expected to reduce from £10,550 to £5,173.

Resolved:

(i)    That the outturn position for the period ended 31 December 2016 be noted;

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