Report of the Chamberlain.
Governors considered a report of the Chamberlain regarding The Charging of Administration Costs and External Audit Fees to the CLS Bursary and Awards Fund Charity from 2021/22 and Updates to the Reserve Policy of the Charity to Reflect this Change.
RESOLVED, that Governors:
· Note that, following a change in policy approved by the Finance Committee, the City of London Corporation will begin recovering the external audit fees and administration costs incurred from those charities, including the School’s charity, from 2021/22 onwards; and
· Governors revise the reserves policy of the School’s charity to provide for these costs going foward