Summary
This report outlines actual income and expenditure against the approved budgets for 2018/19 to the end of September 2018 for the Grants Committee and provides a forecast of the outturn position for 2018/19 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 end of the second quarter of 2018/19, which is the second year of the current four-year programme of commissions. At this stage, a surplus of £110,000 is forecast over the approved budget.
Recommendations
The Grants Committee is asked to :
• Note the projected surplus of £110,000 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.
