Agenda item

Report of the Chamberlain and the Town Clerk

The Committee considered a report of the Chamberlain and the Town Clerk concerning the proposed revenue budget for 2017/18.

The Chamberlain drew out the key points, highlighting that this was a mid-year reforecast. The total operational (Local Risk) expenditure for the year would remain the same, with variations between expense types, as the nature of costs originally budgeted for had changed. Some changes had been necessitated by CBT’s response to the Grenfell disaster. The team had intended to look at changing their grants management database during the year but this had been moved to 2018/19. The forecast total for grant commitments had been increased, due to the previously approved carry forward from 2016/17 and the forthcoming 3-year commitment under the Princes Trust programme.

A Member queried the increase in employee costs of 30 per cent in comparison to 2016-17. The Head of Charity and Social Investment Finance clarified that this was due to several vacancies being filled alongside the impact of a full year for previously approved new roles.

RESOLVED – That the City Bridge Trust Committee:

a)    Approve the revised 2017/18 revenue budget for submission to Finance Committee and Resource Allocation Sub-Committee;

b)    Authorise the Chamberlain to revise this budget to allow for any necessary realignment of funds resulting from corporate projects.