Agenda item

To consider the proposed terms of reference for a Bridge House Estates Board.

18 February 2021

(B) Proposed Terms of Reference for a Bridge House Estates Board

In December 2020, the Policy & Resources Committee considered a report, for the City Corporation as Trustee for Bridge House Estates (charity no. 1035628) (“BHE”), relating to the creation of a dedicated committee of the Court of Common Council from April 2021 to be responsible for the administration of BHE under the oversight of the Court.

The recommendations relating to the establishment of a BHE committee of the Court reflected the views of professional officers and legal advisors arising from the BHE Strategic Governance Review (“the BHE Review”). A single committee was recommended to support regulatory best practice and ensure that, by the implementation of a governance and operational framework providing for cohesive oversight of this large and complex charity in this way, the City Corporation as Trustee will better discharge its duties to administer the charity effectively, solely in the charity’s best interests and in furtherance of BHE’s charitable objects, thus helping to deliver maximum impact for beneficiaries.

The Policy and Resources Committee agreed in principle the recommendation to create a BHE committee in December 2020 but requested that the proposed arrangements be brought back for consideration in more detail in advance of any recommendations being presented to the Court. At the Committee’s meeting in February, proposed Terms of Reference for the new BHE committee, to be called the “Bridge House Estates Board”, were presented for approval, together with further details of the necessary changes to the City Corporation’s corporate governance framework that would need to be made to support the effective implementation of the new BHE Board from April 2021. Members will be further engaged in implementing the corporate governance arrangements to be adopted in the administration of the charity, including for collaboration across all the City Corporation’s functions (and Funds), particularly in relation to investment matters (refer paragraph 28 of the Report).

Resolved – That the Court of Common Council in the discharge of its functions for the City Corporation as Trustee for Bridge House Estates and solely in the charity’s best interests, agrees:- 

1.      To constitute a committee to be named the “Bridge House Estates Board” to exercise day-to-day management and control of the charity solely in its best interests, on behalf of and under the oversight of, and with certain matters reserved to, the Court of Common Council, for implementation from April 2021;

2.      To approve the draft Terms of Reference for the Bridge House Estates Board set out in Appendix A; and to delegate authority to the Town Clerk in consultation with the Chair and Deputy Chair of the Policy & Resources Committee to settle the proposed Terms of Reference following any additional comments from the Court, to be presented to the Court of Common Council in April 2021 for approval in constituting all the Court’s Committees for 2021/22.

3.      To authorise the Town Clerk, in consultation with the Comptroller & City Solicitor, to make any other consequential changes to the City Corporation’s corporate governance documents which are required to support the effective implementation of the new Bridge House Estates Board from April 2021.