Issue - meetings

The forecast for the 2021/22 financial year is that the Charter Trustees of Bournemouth will underspend against the budget set. This is due to reduced activity caused by Covid-19 restrictions and ongoing caution as restrictions are lifted. The forecast surplus for the year is £13,325.

Matthew Filmer, Responsible Financial Officer (RFO), presented a budget monitoring report, a copy of which had been circulated to each Member and which appears as Appendix 'A' to these Minutes in the Minute Book.

The RFO reported that the forecast for the 2021/22 financial year was that the Charter Trustees of Bournemouth would underspend against the budget set.  He explained that this was due to reduced activity caused by Covid-19 restrictions and ongoing caution as restrictions were lifted. The RFO reported that the forecast surplus for the year was £13,325.  Charter Trustees were advised that the reserves were forecast to increase to a closing position of £53,390.  The RFO reported that this represented approximately 33% of the overall budget and explained that a more prudent level would be 20%

The RFO reported that to facilitate the budget setting process for next year it was recommended, like last year, that a budget workshop was held this would look to provide clarity and direction in respect of levels of budget required for 2022/23, the Charter Trustees ambitions with regards to precept levels and therefore implications for council tax, a review of the tax base for the Charter Trustees of Bournemouth, a review of recharges made to the Charter Trustees which would include agreeing a charge for the use of vehicles from BCP Council and an appropriate level of reserves for the Charter Trustees to maintain.

RESOLVED that the Charter Trustees note the in-year budget position for 2021/22 and the proposed arrangements for a budget workshop.

Voting: Agreed