Agenda item

Charter Trustees noted a report of the Treasurer which provided information on actual expenditure compared to the profiled budget for the period ending 31 October 2012 and the forecast of expenditure to 31 March 2013 in comparison to the 2012/13 original budget (for copy see file of minutes).

The Treasurer anticipated that there would be a small underspend at 31 March 2013, meaning that the amount needed to be drawn from reserves would reduce. The Mayor highlighted that the functions of the Charter Trustees did not provide for the award of grants, for example, during the Jubilee celebrations they had been unable to award grants for street parties which had contributed to the underspend.

Trustees queried transactions which appeared twice on the analysis of variable costs. The Mayor explained that the County Council had changed telephone numbers which required the business cards to be reprinted.