Agenda item

The Treasurer submitted a comprehensive report to provide information on the actual expenditure compared to the profiled budget for the period ending 31 December 2011 and the forecast of expenditure to 31 March 2012 in comparison to the 2011/12 original budget.

The Treasurer advised Trustees that the forecast underspend was in the region of £7160.00 which would contribute to the reserve figure but this figure could be subject to change as there was still 3 months remaining.

Trustees sought clarification if there was any further functions planned which would reduce this underspend.

Trustees were advised that there were some functions coming up which would use some of the underspend.

Resolved: (i) That the outturn position for the quarter ended 31 December 2011 be noted.

(ii) That the forecast outturn to 31 March 2012 be noted.