Agenda item

Charter Trustees received a report of the Treasurer that provided information on the actual expenditure compared to the budget for the year ended 31 March 2021 (for copy see file of minutes).

The Treasurer reported that the actual net revenue expenditure for 2020/21 was £43,927, an underspend of £26,177 against a budget of £70,104. He advised that the work of the Charter Trustees had been impacted by the Covid-19 pandemic which resulted in £12,287 being transfer to reserves, increasing the reserve balance to £75,114 as of 31 March 2021. In 2021/22 there is a commitment to draw £15,162 from the reserve which would result in a reserve balance of £59,952 as of 31 March 2022.

Resolved:-

That the final outturn position for the year ended 31 March 2021 be noted.