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Item 7 - Month 9 Revenue Forecast 2016-17 (G8/17)

Summary    

This report:

•    Outlines actual income and expenditure against the approved income and expenditure in the budget to the end of December 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 three- quarter year stage of 2016/17, which is the final year of the current four-year programme of commissions. At this stage, a surplus of £759,000 is forecast over the approved budget. 

Recommendations    

The Grants Committee is asked to :
•    Note the projected surplus of £759,000 for the year; and
•    Note the projected level of Committee reserves, as detailed in paragraph 14 of this report and the commentary on the financial position of the Committee included in paragraphs 15-16.