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Venue: Committee Rooms, West Wing, Guildhall

Contact: Philippa Sewell
tel. no.: 020 7332 1426  Email: philippa.sewell@cityoflondon.gov.uk

Items
No. Item

1.

Apologies

Minutes:

Apologies were received from Deputy John Bennett and John Fletcher.

 ...  view the full minutes text for item 1.

2.

Members' Declarations Under the Code of Conduct in Respect of Items on the Agenda

Minutes:

The following standing declarations would be included on future agendas:

 

Deputy Catherine McGuinness

City of London Academies Trust

Board of Governors of The City Academy, Hackney

Castle Baynard Educational Foundation & Alderman Samuel Wilson Fund

United Westminster Schools Foundation

Board of School Governors and Council of Almoners, Christ's Hospital

Barbican Centre Board

Guildhall School Development Fund

The Worshipful Company of Educators

 

Henry Colthurst

Board of Governors of the City of London Academy, Islington

Board of Governors, Mossbourne Parkside Academy

Board of Mossbourne Federation

Member of Court of the Worshipful Company of Grocers

 

Randall Anderson

Board of Governors of the City of London School for Girls

Committee of Aldermanic Almoners, Common Council Governors and Donation Governors of Christ’s Hospital

Member – Varndean Corporation (Governor; Sixth Form College)

 

Ann Holmes

City of London Academy Islington

City of London School for Girls

 

Philip Woodhouse

Board of Governors, Mossbourne Academy Federation

Board of Governors, Mossbourne Victoria Park

Board of Governors of the City of London Freemen’s School

Board of Governors, Oundle School

Chairman of Governors, Wellesley School Broadstairs

 

 ...  view the full minutes text for item 2.

3.

Minutes of the Previous meeting pdf icon PDF 208 KB

To agree the public minutes of the meeting held on 12 December 2016.

 ...  view the full agenda text for item 3.

Minutes:

RESOLVED – That the minutes of the meeting held on 12 December 2016 be approved as a correct record.

 

Matters Arising

Development of Policy to Guide Application of Charitable Funds

The Comptroller & City Solicitor confirmed that City Schools were not prohibited from making grant applications and would be treated equally to any other applicant subject to ensuring such grants would not give rise to a self-benefit to the City Corporation.

 ...  view the full minutes text for item 3.

4.

Variations of terms of grants from the City Educational Trust Fund and the City of London Corporation Combined Education Charity pdf icon PDF 143 KB

Report of the Chief Grants Officer.

 ...  view the full agenda text for item 4.

Additional documents:

Minutes:

The Sub-Committee considered a report of the Chief Grants Officer regarding a requested variation to one of the grants approved at the previous meeting and asking for delegated powers for the Chief Grants Officer in consultation with the Town Clerk, Chairman and Deputy Chairman to approve similar changes in the future. Members agreed the recommendations on the condition that any variations approved under delegation were reported at the next meeting.

 

RESOLVED – That:

a)    the purpose of one grant previously approved by this Sub-Committee at its December 2016 meeting from the City of London Corporation Combined Education Charity be changed as set out in the report; and

b)    authority be delegated to the Chief Grants Officer to agree minor variations to the terms of grants approved by this Sub-Committee in consultation with the Town Clerk, Chairman and Deputy Chairman of this Sub-Committee. Any such variations to be reported to the next Sub-Committee meeting.

 ...  view the full minutes text for item 4.

5.

The City of London Charities Pool Report and Financial Statements for the year ended 31 March 2016 pdf icon PDF 720 KB

The City Educational Trust Fund and the CoL Combined Education Charity both invest in the City of London Charities Pool. 

 

The City of London Charities Pool Report and Financial Statements for the year ended 31 March 2016 is attached for Members’ information.

 

The Financial Investment Board oversees the Charities Pool investments and is interested in establishing the expectations of the charities that currently invest in the Pool.  To help with this, a short survey has been devised for consideration by each charity. Responses are asked to be returned by Friday 17 March 2017.

 ...  view the full agenda text for item 5.

Additional documents:

Minutes:

The Sub-Committee received the Charities Pool Accounts and survey for Charities invested in the Pool in relation to the City Educational Trust Fund and the City of London Corporation Combined Education Charity. Members noted that comments would be passed to the Financial Investment Board via the Education Board (which has delegated responsibility for the management of the two charities).

 

Members agreed that, in terms of importance, income/dividend growth ranked highest followed by ensuring a relatively consistent income/dividend return and the preservation of capital investment. The long-term perspective was supported, and more regular updates (i.e. twice a year) would be welcomed.

 ...  view the full minutes text for item 5.

6.

Revised eligibility criteria for the City Educational Trust Fund and the City of London Corporation Combined Education Charity pdf icon PDF 143 KB

Report of the Director of Community and Children’s Services.

 ...  view the full agenda text for item 6.

Minutes:

The Sub-Committee considered a report of the Director of Community & Children’s Services regarding the eligibility criteria for the City Educational Trust Fund and the City of London Corporation Combined Education Charity, which had been revised in light of the steer given by Members at the last meeting.

 

Members discussed the criteria and the following matters were raised/noted:

 

·         To enable more flexibility in grant-making, grants of between £5k-25k should be awarded and that this should apply to both charities.

·         Consistent with the aim to align the charities’ application criteria, Members agreed that the geographical restriction that applied in respect of the City of London Corporation Combined Education Charity in accordance with that charity’s objects should be added to the application criteria for the City Educational Trust Fund as a matter of policy.

·         The wording under ‘eligibility’ be revised to reflect that the City of London was not a London Borough.

·         Members asked that the wording/tense be revised in order to be less specific to individual applicants.

·         It be clarified that organisations could apply for groups of individuals, and that those individuals would be precluded from further applications within five years but the organisation would not be.

·         Confirm that grants would be made twice a year.

·         It be clarified that individuals could apply directly to the Combined Education Charity, but only in exceptional circumstances (i.e. they were unable to access funds elsewhere) and where the application was supported by clear proof of financial need.

 

Members asked for the criteria once amended to include these further revisions be circulated electronically to ensure the amended policy properly reflects their discussions before being presented to the Community & Children’s Services Committee for their consideration and to the Education Board for approval. With regard to advertising the new criteria once agreed, the Chief Grants Officer advised

 ...  view the full minutes text for item 6.

7.

Proposed date of next meeting

11.00am on Monday 16th October 2017.

 ...  view the full agenda text for item 7.

Minutes:

RESOLVED - That the Sub-Committee meet twice a year, with the next meeting at 11.00am on 16 October 2017 and the subsequent meeting in April 2018.

 ...  view the full minutes text for item 7.

8.

Questions on Matters Relating to the Work of the Sub-Committee

Minutes:

There were no questions.

 ...  view the full minutes text for item 8.

9.

Any Other Business That The Chairman Considers Urgent

Minutes:

There was no other business.

 ...  view the full minutes text for item 9.

 


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