Issue - meetings

To consider a report of the Borough Treasurer

The report advises the Area Committee of the financial standing of the Trust as at 30 September 2018, indicates the amount of money available for distribution to organisations and provide commentary on the relevant performance of investment funds.

At the meeting of the Area Committee held on 10 July 2018 it was agreed that:-

·         the decision of the Area Committee held on 5 June 2018 be reaffirmed  (that £35,000 from the Trust be allocated and further consideration given to supporting voluntary groups for children and young people, young carers, addressing loneliness amongst children and young people, and supporting sports groups for people of all ages.)

·         the sub-group previously established to consider applications for funding from the Brookfield Park Shiers Family Trust, comprising one Councillor from each of the three Wards in the Cheadle area, be reconvened in order to oversee the process and consider applications received for funding.

·         authority to make any grants be delegated to the Democratic Services Manager, in consultation with the Chair of the Area Committee and members of the sub-group referred to in (2) above.

The Area Committee is recommended to:-

·         decide upon the policy that they wish to adopt I n respect of the distribution of the Trust;

·         approval the proposal to appoint the Council’s Borough Treasurer, Michael Cullen, and Head of Financial Accounting, Jonathan Davies, as authorising trustees to the charity; and

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

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 Trust as at 30 September 2018, indicating the amount of money available for distribution to organisations and providing commentary on the relevant performance of investment funds.

The Area Committee was reminded that at its meeting held on 10 July 2018 it had agreed that:-

·         The decision of the Area Committee held on 5 June 2018 be reaffirmed (that £35,000 from the Trust be allocated and further consideration given to supporting voluntary groups for children and young people, young carers, addressing loneliness amongst children and young people, and supporting sports groups for people of all ages).

·         The sub-group previously established to consider applications for funding from the Brookfield Park Shiers Family Trust, comprising one Councillor from each of the three Wards in the Cheadle area, be reconvened in order to oversee the process and consider applications received for funding.

·         authority to make any grants be delegated to the Democratic Services Manager, in consultation with the Chair of the Area Committee and members of the sub-group referred to in (2) above.

Members felt attempts should be made to try and connect the fund to the Stockport Local Fund and direct potential applicants towards it when applications for the Stockport Local Fund were ‘live’.

RESOLVED – (1) That £50,000 from the Trust be allocated to support voluntary groups for children and young people, young carers, addressing loneliness amongst children and young people, and supporting sports groups for people of all ages.

(2) That the Council’s Borough Treasurer, Michael Cullen, and Head of Financial Accounting, Jonathan Davies, be appointed as authorising trustees to the charity.

(3) That the current investment policy be maintained.

(4) That the Deputy Chief Executive be requested to examine the feasibility of linking the administration of the Brookfield Park Shiers Family Trust to that for the Stockport Local Fund.