The Charter Trustees for Bournemouth of Bournemouth, Christchurch and Poole Council met to discuss the budget outturn report for 2023-24 and the annual governance statement and statement of accounts for 2023-24. The meeting included a detailed discussion on the underspend of £18,000 and the allocation of reserves, as well as the potential use of these reserves for community events and facilities.

Budget Outturn Report 2023-24

Matt Filmer, the responsible financial officer, presented the Budget Outturn Report for 2023-24. The Charter Trustees underspent by just over £18,000, primarily in variable areas such as mayoral events and hospitality. This underspend has been added to the total reserves, bringing them to approximately £103,000. Filmer explained that 70% of the Trustees' budget is fixed, and the underspend occurred in non-fixed charges. The details of the expenditure and income are set out in Appendix A.

Councillor Trent raised concerns about the potential for another underspend in the next year and suggested that the reserves could be used to support the full council budget. Filmer clarified that the reserves are intended to support the Trustees' budget and any decision to use them would need to be made during the budgetary workshops held before January.

Use of Reserves

The discussion also touched on the use of reserves for community events. Councillor Trent suggested that the reserves could support events like the Arts by the Sea festival, which is currently under-financed. However, it was noted that reserves can only be used for Charter Trustee purposes and not for general council services. The Trustees agreed to hold a workshop to explore the wider options for using the reserves to support community events and facilities.

Annual Governance Statement and Statement of Accounts 2023-24

Filmer also presented the Annual Governance Statement and Statement of Accounts for 2023-24. This document summarises the previous agenda items and includes the value of the fixed assets or regalia of the Charter Trustees, which is £646,000 based on the latest insurance valuation. The Trustees approved the statement, which will be published on the Charter Trustees' website for public inspection.

Printing and Photocopying Costs

Councillor Connolly questioned the significant increase in printing and photocopying costs, which were budgeted at £50 but actual spending was £284. Filmer explained that the additional costs were due to the printing of booklets for Remembrance Sunday, which were charged to the Charter Trustees by the council's reprographics team.

Future Workshops

The Trustees agreed to hold a workshop to consider the wider options for the use of revenue and reserves in support of community events and facilities. This workshop will also explore the possibility of working with neighbouring Charter Trustees and parish or town councils.

For more details, you can refer to the printed minutes of the meeting.