Issue - meetings

To consider a report of the Borough Treasurer

The report advises the Area Committee of the financial standing of the Brookfield Park Shiers Family Trust and indicates the amount of money available for distribution to organisations and provides commentary on the relevant performance of investment funds.

The Area Committee is requested to:-

·         note the contents of the report.

·         formally adopt the Financial Accounts of the Brookfield Park Shiers Trust for the year ending 31 March 2016.

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

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

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, indicating the amount of money available for distribution to organisations and providing commentary on the relevant performance of investment funds. The Area Committee, acting in its capacity as Trustee for the Brookfield Park Shiers Family Trust, considered a report which advised Members of the financial standing of the Trust and sought their approval to formally adopt the Financial Accounts of the Trust for the year ending 31 March 2016.

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

(2)That the Financial Accounts of the Brookfield Park Shiers Family Trust for the year ending 31 March 2016, included as Appendix One to the report, be adopted.

(3) That 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 be reaffirmed.

(4) That a distribution of the Trust be made in accordance with this decision and that the application process be now commenced.

(5)That the current investment policy of the Trust be retained.