Agenda item

COVID-19 - Impact on Investment Income in the School's Bursary Fund Charity

Meeting of Finance and Estates Committee of the Board of Governors of the City of London School for Girls, Wednesday, 16th September, 2020 11.00 am (Item 7.)

Report of the Chamberlain.

Minutes:

Governors considered a report of the Chamberlain outlining the impact of the COVID-19 pandemic on investment income in the School’s Bursary Fund Charity.

Whilst investment income was projected to reduce by approximately 24% during the 2020/21 financial year,this made up only a small part of the overall income of the School’s Bursary Charity and was not anticipated to impact the financial viability of the charity. The City’s investment consultant was not advising the City’s charities to disinvest funds at this time as it was anticipated that the value of investments would recover over the short to medium term.

RESOLVED, that the report be noted.

Supporting documents:

COVID-19 – Impact on Investment Income in the School’s Bursary Fund Charity, item 7. PDF 65 KB