Summary
This report:
• Outlines actual income and expenditure against the approved income and expenditure in the budget to the end of September 2016 for the Grants Committee;
• Provides a forecast of the outturn position for 2016/17 for both actual and committed expenditure on commissions, including:
Those matched funded ESF commissions that are within the Grants Programme (i.e., excluding borough-specific ESF projects); and
London Councils’ administration of all these commissions.
Members are reminded that the position reported in this report is at the half-year stage of 2016/17, which is the final year of the current four-year programme of commissions. At this stage, a surplus of £854,000 is forecast over the approved budget.
Recommendations
The Grants Committee is asked to :
• Note the projected surplus of £854,000 for the year; and
• Note the projected level of Committee reserves, as detailed in paragraph 13 of this report and the commentary on the financial position of the Committee included in paragraphs 14-15.
