Agenda item

Joint report of the Town Clerk and the Chief Grants Officer & Director of the City Bridge Trust.

The Committee considered a joint report of the Chief Grants Officer & Director of The City Bridge Trust, the Comptroller & City Solicitor, and the Town Clerk concerning the creation of a dedicated Bridge House Estates (BHE) Committee, supported by its own sub-committees, for implementation from April 2021.

Whilst supportive of the establishment of such a Committee in principle, a number of Members raised particular points of concern or areas where clarification was required:

·           Arrangements for the appointment of the proposed external Members were queried, with Members keen to understand the process and criteria that might be used. Further elements of clarification were also sought in respect of the appointment of Common Councillors, pending longer-term consideration as to any prospective Governance & Nominations Committee.

·           The need to delegate authority in respect of the production of Terms of Reference was questioned, with it observed that timescales should permit for the Committee to take a more in-depth look at proposals prior to their presentation to the Court.

·           The precise nature of the continued role of the City Bridge Trust Committee was discussed, with Members seeking confirmation as to how grant-making decisions would be managed within the new construct.

·           Concern was expressed in respect of the implication that this new Committee could create sub-committees as it saw fit, with Members noting the resource implications that would arise in supporting the system and the wider governance implications in respect of the Corporation’s overall committee structure.

·           It was highlighted that any changes involving a BHE-specific investment strategy could have significant impacts on the City Corporation’s overall investment strategy and on particular portfolios and asset classes. A Member urged that the investment piece be considered in the round and carte blanche was not provided for a single committee to make major decisions in isolation which might affect the Corporation’s overall investment capabilities.

·           Members also articulated some reservations in respect of the budget-setting process, noting that there may well be tension in respect of allocation decisions around the primary and ancillary objective, as well as in relation to the role of the Finance Committee. It was emphasised that clarity in this area would be particularly important.

The Chair thanked Members for their contributions and reiterated the importance of ensuring new arrangements complied with best practice. She noted Members’ support in principle for the new BHE Committee but that formal approval would be subject to consideration of a further paper at a coming meeting, clarifying Members’ concerns and presenting terms of reference for review.

RESOLVED: That:-

1.         Members agree, in principle, to support the creation of a BHE Committee, which would exercise management and control of the charity, for implementation from April 2021.

2.         A further report be requested, presenting terms of reference for consideration and clarifying points of detail, prior to the submission of formal proposals to the Court of Common Council.

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At this point in the meeting, the Chair was obliged to depart on official business and the Deputy Chairman took the Chair until her return at Item 22.

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