Issue - meetings

To consider a report of the Corporate Director for Corporate and Support Services

The report provides an update on the financial standing of the Brookfield Park Shiers Family Trust as at 30 September 2015, indicates the amount of money available for distribution to organisations and reports on the relevant performance of investment funds.

The Area Committee is requested to:-

·         note the contents of the report;

·         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

As the Area Committee acts as Trustee for the Brookfield Park Shiers Family Trust, Members are reminded of the need to consider whether the recommendations in this report further the charitable objects of the Trust and to give no weight to the interests of the Council if the Council’s interests do not align with those of the Trust.

A representative of the Corporate Director for Corporate and Support Services submitted a report to the Area Committee, acting in its capacity as Trustee for the Brookfield Park Shiers Family Trust, providing an update on the financial standing of the Trust as at 30 September 2015, indicating the amount of money available for distribution to organisations and advising on the relevant performance of investment funds.

RESOLVED – (1) That the contents of the report be noted.

(2) That the previous decision of the Area Committee to reserve £25,000 from the Trust towards addressing the effect of loneliness amongst elderly residents and the consequential effect on their health be reaffirmed.

(3) That no distribution of the Trust be made at this moment in time.

(4) That the current investment policy of the Trust be maintained.