Issue - meetings

Matt Filmer, Responsible Financial Officer presented the Budget Outturn for 2023-24, as set out in the supplemental meeting papers which had been circulated to each Trustee and a copy of which appears as Appendix ‘C’ to these Minutes in the Minute Book.

The Mayor confirmed that he had approved the late addition of the report to provide additional context to agenda item 4.

The Officer highlighted the final underspend value of £18,706 which had been added to the total reserves. As a result, the Charter Trustees would carry forward reserves of £103,577 into the 2024/25 financial year.

In response to a query on the level of ongoing underspend and increases to reserves, the officer reminded Trustees that the budget for 24/25 had been agreed to be supported by reserves. Draw-down of reserves depended on the amount of over and underspend. The audit report demeaned at agenda item 3 had highlighted the level of reserves and suggested that Trustees should review ways for these reserves to be used.

Regarding the potential to offset reserves against the precept, it was confirmed that this would be a matter for the Budget Working Group to discuss, though it was suggested that any reduction in precept through use of reserves could result in having to increase the precept in following years.

The Honorary Cler reminded Trustees that reserves must be used for Charter Trustee purposes only.

The Mayor highlighted that reserves would likely be used in support of forthcoming events to commemorate Victory in Japan and Victory in Europe. These events were to be discussed at future Civic Working Group meetings.

Trustees referred to the Grant Funding Scheme in place in Poole and suggested a similar scheme could be created for Bournemouth, though it was recognised that there could be Charter Trustee expenses that required use of reserves i.e. a new Mayoral vehicle.

The Mayor proposed the scheduling of a workshop to consider the wider options for use of revenue and reserves in support of community events and facilities across the Bournemouth area, inclusive of options to work with neighbouring CTs, town and parish councils. Councillor Trent seconded the motion. This was put to a vote and unanimously agreed, with 2 abstentions.

RESOLVED: that a workshop be arranged to consider the wider options for use of revenue and reserves in support of community events and facilities across the Bournemouth area, inclusive of options to work with neighbouring CTs, town and parish councils.

The report was noted.

Voting: Unanimous.