Agenda item

Members considered the grant recommendations for the City Educational Trust Fund.

Ark

·         The Chief Grants Officer introduced the application received from Ark and noted that the grant monies would be used to benefit Ark’s London schools. If the scheme proved successful it was likely the scheme would have national benefit. Up to 350 students would benefit from the grant application if it was approved.

·         In response to a question from a Member over the fall in income referenced within the financial information submitted by Ark, the Chief Grants Officer advised that this was likely due to the timing of different sets of accounts.

·         Members agreed the grant subject to conditions that (a) it be used to benefit London schools and (b) comparative accounts be provided for 2017/18, 2018/19 and (c) a forecast for 2019 be provided.

RESOLVED, that subject to receipt of satisfactory financial information, and the condition that the grant be used to benefit London schools and students, Members approve a grant of £25,000 to Ark from the City Educational Trust.

Career Ready

RESOLVED, that Members approve a grant of £7,800 to Career Ready from the City Educational Trust.

City of London Academy Islington

·         The Town Clerk noted that this application had been withdrawn from consideration at the meeting due to the interests declared by Henry Colthurst and Ann Holmes and the resulting loss of a quorum.

Dr Johnson’s House Trust Ltd

·         The Chief Grants Officer noted that the Dr Johnson’s House Trust Ltd was a previous applicant to the City Educational Trust. He confirmed that the application matched the objects of the charity.

·         In response to a comment from a Member regarding a £1m decrease in free unrestricted reserves, the Chief Grants Officer noted that a judgement had not been made on the implications that had on the charity as only the unrestricted reserves had been assessed. The Chief Grant Officer agreed to be more consistent in the type of accounts assessed for each grant application.

RESOLVED, that Members approve a grant of £8,000 to Dr Johnson’s House Trust Ltd from the City Educational Trust towards the delivery of the Education programme at Doctor Johnson’s House.

In2scienceUK

·         The Chief Grants Officer noted that there was a deficit shown in the applicant’s financial information, but that the applicant had advised they were on track to achieving a fundraising aim to deal with the deficit.

·         In response to a comment from the Chairman regarding the applicant’s increasing expenditure, the Chief Grants Officer noted that the applicant was a relatively new organisation that was expanding with the assistance of NESTA funding.

·         Members queried the nature of the applicant’s increase in income and requested that it be clarified prior to the grant being awarded.

RESOLVED, that that subject to receipt of satisfactory financial information, Members approve a grant of £25,000 to in2scienceUK from the City Educational Trust, to fund 200 Bursary placements for students in London and a contribution to the salary costs of the Regional Programme Manager.

Roundhouse Trust

·         A Member noted that, given the impact of the Roundhouse Trust’s work to date, they would be sympathetic to considering increasing the amount awarded to the Trust if the it was unsuccessful in securing funding from the Leathersellers’ Company.

RESOLVED, that Members approve a grant of £20,000 over two years (£10,000 and £10,000) to the Roundhouse Trust from the City Educational Trust, to contribute to the Roundhouse Education Programme in London.  

Sadler’s Wells

·         In response to a question from a Member, the Chief Grants Officer confirmed that the financial information included with the application was all the financial information that the applicant had provided. Members requested that further financial information – consistent with other applications that had been approved - be provided prior to any award being made.

RESOLVED, that that subject to receipt of satisfactory financial information, Members approve a grant of £25,000 to Sadler’s Wells from the City Educational Trust over two years (£12,500 and £12,500) towards the cost of workshops, curriculum support, showcase and professional development for teachers, all within London.  

Stratford Circus Arts Centre

·         The Chief Grants Officer advised that this application differed from the direct delivery applications considered elsewhere on the agenda, and that he recommended the award of the grant be conditional to quarterly release of monies and monthly monitoring reports being submitted to the City of London Corporation.

RESOLVED, that Members approve a grant of £25,000 to the Stratford Circus Arts Centre from the City Educational Trust overt two years (£12,500 and £12,500) towards the overall project costs of the Creative Schools brokerage programme in East London. The grant funding to be conditional on the balance being raised for the total cost of the project; funding being released quarterly; and monthly monitoring reports being submitted to the City of London Corporation.