Issue - meetings

Due to effects of the pandemic, the Charter Trustees of Bournemouth underspent against their approved budgets by £27,671 for 2020/21. This underspend plus the budgeted contribution to reserves of £4,400  has been added to the opening reserves position of £7,994 to give total reserves carried forward of £40,065 as at 31 March 2021.

The Responsible Financial Officer presented a report on the budget outturn for 2020/21, a copy of which had been circulated to each Trustee and a copy of which appears as Appendix 'B' to these Minutes in the Minute Book.

The RFO explained that this report provided the detail of the budget prior to the Charter Trustees being asked to approve the Statement of Accounts in the Governance Return.

He reported that throughout the year there was a significant underspend forecast due to the pandemic with the activities of the Charter Trustees seriously curtailed.  The Charter Trustees were informed that the year-end outturn position was an underspend of £27,671.  Appendix A to the report set out the detailed spend against each of the budget headings with a total spend of £105,179.00 which agreed with the statement of accounts at agenda item 8.  The RFO explained that expenditure had mainly been incurred on premises, staff support and recharges from BCP Council with the civic budgets underspent. The Charter Trustees were advised of the reserves position with just over £40,000 total reserves carried forward as at 31 March 2021.  The RFO reported that a prudent level of reserves was 20% of the precept. 

RESOLVED that the Charter Trustees note the budget outturn position for 2020/21.

Voting: Agreed