Issue - meetings

The forecast for the 2023/24 financial year is that the Charter Trustees of Bournemouth will underspend against the budget set. This is due to spend to date and planned activity for the rest of the year being lower than originally envisaged. The forecast underspend for the year is £6,450.

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

Trustees were advised of a forecast underspend of £6,450, mostly due to a lower than forecast use of hospitality budget and out of pocket expenses claims.

It was confirmed that a Budget Working Group was to be scheduled for December, which would review recharges, the tax base/precept and use of reserves, ahead of formal budget setting at the January 2024 Charter Trustee meeting. Trustees who were eager to have input into the budget were encouraged to attend the Budget Working Group meeting. Democratic Services confirmed that all Trustees would be notified of the meeting details once finalised. It was agreed that the meeting would allow for both in-person and remote attendance.

Trustees were advised that the audit for 2022/23 had been completed with no issues, and the audit document was available to view on the public website.

RESOLVED: that the in-year budget position for 2023/24 and other finance updates, as set out in the report, be noted.