Commission expects £1m underspend
The Charity Commission is expecting to record an underspend of more than £1m against its 2007/08 budget because, in anticipation of next year's funding cuts, it has stopped replacing staff when they leave.
“With three years of cuts, we have any number of candidates to use the money,” he said.
Andrew Hind, chief executive of the commission, dismissed board members’ fears that the Treasury would not find an underspend credible in the regulator’s current economic circumstances and might refuse to release the money at a later date.
“We told HMRC that we need to be able to build up a reserve if we are to sustain the cuts,” he said.
Have you registered with us yet?
Register now to enjoy more articles and free email bulletinsRegister