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 ending31 December 2019; and the forecast of expenditure to 31 March 2020 in comparison to the 2019/20 original budget (for copy see file of minutes).

The Finance Manager reported that at 31 December 2019 the actual net expenditure was £48,649, an underspend of £10,272 against a profiled budget of £58,921. It was anticipated that the actual expenditure at 31 March 2020 would be lower than the original budget of £68,856 by £6,925. The sum required to be drawn from reserves to balance the budget was therefore expected to reduce from £13,543 to £6,604.

The Finance Manager referred to Councillor Hopgood’s query in the minutes of the meeting on the 4 December 2019 regarding the general office expenses and clarified that the one-off expenditure related to ceremonial robes and the honours board.

Resolved:

(i)     That the outturn position for the period ended 31 December 2019 be noted;

(ii)   That the forecast outturn to 31 March 2020 be noted.