Decision details

The Committee considered a report on the income and expenditure of the Fund for the period 1^st April to 31^st December, 2017, together with a comparison to the budget for the same period and a full year forecast with comparison for the full year budget to the 31^st March 2018.

In response to a query regarding the figures in the report for the net surplus before realised and unrealised profits on investments the Head of Fund clarified that investment income had proved to be higher than had been predicted when the budget assumptions were made and any dividend income would be reinvested.

Resolved:

1.  That the analysis of variances between actual results and the budgeted income and expenditure for the period 1^st April to 31^st December 2017, as set out in the report presented, is noted.

2.  That the forecast full year financial performance against budget, as set out in the report presented, is noted.