Issue - meetings

To consider a report of the Borough Treasurer

The report advises the Area Committee of the financial standing of the Trust and for Members to formally adopt the Financial Accounts of the Brookfield Park Shiers Family Trust for the year ending 31 March 2017 contained in Appendix One.

The Area Committee is recommended to:-

·         note the contents of the report

·         formallyadsopt the Financial Accounts of the Brookfield Park Shiers Family Trust for the year ending 31 March 2017.

·         decide upon the policy that they wish to adopt in respect of distribution of the Trust; and

·         advise as to the investment policy that they wish to follow.

Officer Contact: Paula McDonald on 0161 474 4708 or email: paula.mcdonald@stockport.gov.uk

A representative of the Borough Treasurer submitted a report (copies of which had been circulated) advising the Area Committee of the financial standing of the Brookfield Park Shiers Family Trust and requesting Members to formally adopt the Financial Accounts of the Trust which were contained in Appendix One to the report.

The Area Committee, acting in its capacity as Trustee for the Brookfield Park Shiers Family Trust:-

RESOLVED – (1) That the report be noted

(2) That the Financial Accounts of the Brookfield Park Shiers Family Trust for the year ending 31 March 2017, included as Appendix 1 to the report, be adopted.

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(3) That no additional distribution of the Trust be made in addition to the Area Committee’s previous decision to reserve £25,000 from the Trust towards addressing the effect of loneliness amongst elderly residents and the consequential effect on their health.

(4) That the current investment policy of the Trust be retained, but the possible use of social investment bonds be investigated and the outcome included in the next report to the Area Committee on the financial standing of the Trust.