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 2023 (for copy see file of minutes).

The Treasurer reported that the actual net expenditure for 2022/23 was £59,522, an underspend of £13,241 against a budget of £72,763. The general reserve balance at 1 April 2022 was £80,358. With an underspend of £13,241 a contribution of £2,539 had been taken from the reserve, rather than the original budget draw from the reserve of £15,780. Consequently, the reserve balance had reduced to £77,819 as at 31 March 2023. In 2023/24 there was a commitment to draw £15,477 from the reserve which would result in a reserve balance of £62,342 as at 31 March 2024.

Resolved:-

That the outturn position for the year ended 31 March 2023 be noted.