Issue - meetings

To consider a report of the Deputy Chief Executive.

The report updates members on the financial standing of the Brookfield Park Shiers Family Trust and financial accounts for year ending 31 March 2023.

The Area Committee is requested to:

a)    note the contents of the report;

b)   formally adopt the Financial Accounts (found at appendix two) of the Brookfield Park Shiers Family Trust for year ending 31 March 2023;

c)    decide upon the amount of funding to be made available for distribution from the Trust during 2023/34;

d)   advise as to any changes to the investment policies adopted that they wish to make.  As a reminder, the investment policies are:

e)    to maintain the value of the Trust in real terms before considering any distribution, and

f)  to reinvest the dividends received in relation to the Investment Fund back into that Investment Fund;

g)   receive updates at Area Committee meetings from the Clerk on the progression and/ or success of projects which have received a grant from the Brookfield Park Shiers Family Trust.

h)   agree the dates and times of Brookfield Park Shiers Family Trust Sub Committee meetings to be held during the period to the next annual council meeting as follows:

·         13 September 2023, 6pm

·         14 November 2023, 6pm

·         31 January 2024, 6pm

·         28 March 2024, 6pm; and,

i)     agree the proposal to add the Deputy Section 151 Officer, Jonathan Davies, as Trustee to the Fund for administrative purposes to the Charity Commission website.

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

A representative of the Deputy Chief Executive (Section 151 Officer) submitted a report (copies of which had been circulated) detailing the financial standing of the Brookfield Park Shiers Family Trust. The Area Committee were recommended to adopt the financial accounts for the year ending 31 March 2023 and decide upon the policy that they wished to adopt in respect of the distribution of the Trust.

It was suggested that a budget of £10,000 of funding be made available for distribution from the Trust during 2023 – 2024 to ensure that the Trust supported a significant number of good causes within a year period. Thanks were expressed for the way in which the reports were presented.

RESOLVED – The Area Committee has given approval to:

a)    formally adopt the Financial Accounts of the Brookfield Park Shiers Family Trust for year ending 31 March 2023;

b)    that a budget of £10,000 of funding to be made available for distribution from the Trust during 2023/34;

c)    continue to operate the current investment policies, namely, to maintain the value of the Trust in real terms before considering any distribution and to reinvest the dividends received in relation to the Investment Fund back into that Investment Fund;

d)    continue to receive updates at Area Committee meetings from the Democratic Services Officer on the progression and/ or success of projects which have received a grant from the Brookfield Park Shiers Family Trust;

e)    the proposed dates and times of Brookfield Park Shiers Family Trust Sub Committee meetings to be held during the period until the next annual council meeting as per the report; and

f)     the proposal to add the Deputy Section 151 Officer, Jonathan Davies, as Trustee to the Fund for administrative purposes to the Charity Commission website.