Joint report by Treasurer and Chief Executive of Scotland Excel.
2
There was submitted a revenue budget monitoring report by the Treasurer and the Chief Executive of Scotland Excel for the period 1 April 2019 to 31 March 2020.
The report intimated that Scotland Excel had ended the 2019/20 financial year with a net overspend of £6,139 within its Core Operations, a saving of £7,861 compared to the budgeted reserve drawdown of £14,000.
As projected at Period 10, the expenditure overspend arose mainly within Employee Costs with other minor overspends in Premises Costs and Apprenticeship Levy (Transfer Payments). These were offset by underspends across Supplies and Services, including furniture and marketing and Transport Costs. The net result was an overspend in gross expenditure for 2019/20 of £51,611.
Income was higher than anticipated as a Scottish Government grant of £150,633 funded the Supported Living/Care at Home activity that was budgeted to be funded from £120,000 of Project reserve balances, as such this drawdown was no longer needed. This, along with other short-term unplanned project income, resulted in an over-recovery in gross income for 2019/20 of £59,472. At 1 April 2019, the balance on the Projects Reserve was £636,924.
The Projects ended the year with a surplus of income over expenditure of £126,368. This balance was committed for future Project spend, the detail and management of this balance would be reported in the draft Annual Accounts, due to be brought before the Joint Committee on 19 June 2020.
The table in the report provided an analysis of the budget and actual spend during 2019/20 and included a summary of movement in the General Reserve.
It was noted that the last sentence of paragraph 1.1 of the report should read ‘Further detail is provided in section 3’ and not section 4 as stated.
DECIDED: That the year-end positions in both Core Operations and Projects detailed in the report be noted.