Summary
This report:
• Outlines actual income and expenditure against the approved income and expenditure budgets to the end of December 2017 for the Grants Committee;
• Provides a forecast of the outturn position for 2017/18 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 outlined in this report is at the three quarter-year stage of 2017/18, which is the first year of the current four-year programme of commissions. At this stage, a surplus of £815,000 is forecast over the approved budget.
Recommendations
The Grants Committee is asked to :
• Note the projected surplus of £755,000 for the year; and
• Note the projected level of Committee reserves, as detailed in paragraph 11 of this report and the commentary on the financial position of the Committee included in paragraphs 12-13.
