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 2017; and the forecast of expenditure to 31 March 2018 in comparison to the 2017/18 original budget (for copy see file of minutes).

The Treasurer reported that at 31 December 2017 actual net expenditure was £44,149; an underspend of £9,496 against a profiled budget of £53,645. It was anticipated that actual expenditure at 31 March 2018 would be lower than the original budget of £66,436 by £10,866. The sum required to be drawn from reserves to balance the budget was therefore expected to reduce from £11,962 to £1,096.

Resolved:

(i)    That the outturn position for the period ended 31 December 2017 be noted;

(ii)  That the forecast outturn to 31 March 2018 be noted.