Issue - meetings

To consider a report of the Deputy Chief Executive and Section 151 Officer.

The report details the financial standing of the Brookfield Park Shiers Family Trust as at 31 October 2022 and asks members to consider the position of the Fund in real terms and advise as to the investment strategy that they wish to follow.

The Area Committee is recommended to:

(1) Note the content of the report;

(2) Decide upon the policy that the Area Committee wish to adopt in respect of distribution of the Trust; and

(3) Advise as to the investment policy that the Area Committee wish to follow.

Officer Contact: Paula McDonald 0161 474 4708 | paula.mcdonald@stockport.gov.uk

A representative of the Assistant Director - Legal & Democratic Governance and Monitoring Officer submitted a report of the Deputy Chief Executive and Section 151 Officer (copies of which had been circulated) detailing the financial standing of the Brookfield Park Shiers Family Trust as at 31 October 2022 and asked that members consider the position of the Fund in real terms and advise as to the investment strategy that they wished to follow.

Paula McDonald (CSS Group Accountant (Technical Finance), Stockport Council)) attended the meeting to answer questions from councillors.

Members considered whether the current aims that projects applying for funds should seek to support were still fit for purpose. It was suggested that reference to age be removed, and a provision in relation to accessibility be added.

RESOLVED -

The Area Committee:

(1)  Noted the report.

(2)  Confirmed support for the existing guidelines for the distribution of monies from the Trust:

·         Invite applications for projects by voluntary and community groups in the area of the former Cheadle and Gatley Urban District Council, to include both enhancements of existing projects as well as new projects.

·         There is no upper limit on the amount that may be applied for and any applications and grant amount awards will be considered on a case by case basis. Groups are permitted to submit further applications once a project was more advanced.

·         There is an expectation that applications will include innovation, imagination and good presentations for proposed projects, and that proposed projects work for the good and betterment of the community.

·         Attach a grant condition requiring the money to be spent on residents within the Trust's area, even if the organisation applying for the grant is located outside the area of benefit of the Trust.

(3)  Agreed the aims that projects should seek to support as follows:

·         address the effects of loneliness of residents and the consequential effect on their health and wellbeing;

·         support voluntary groups and sports groups for residents of all ages; and

·         support increased accessibility in district and local centres.

(4)  Agreed that the £16,251 surplus funds be made available for distribution.

(5)  Agreed to continue with the current investment policy.