Agenda item

Report of the Chamberlain.

The Board considered a report of the Chamberlain presenting the draft Annual Report and Financial Statements 2020/21 of the School’s charity, The City of London School for Girls Bursary Fund incorporating The City of London School for Girls Scholarships and Prizes Fund and the following point was made:

·         During the year ended 31 March 2021 total funds within the School’s charity had increased by £903,217. This favourable movement comprised a net gain on investments of £813,311, voluntary income of £759,979, and investment income of £175,599. The increase in funds had been partly offset by expenditure on charitable activities of £845,672 in awarding 53 bursaries and 25 prizes. There had been no costs relating to fundraising during the 2020/21 financial year. The School’s External Auditor, BDO LLP would be commencing its audit of the draft Annual Report and Financial Statements in mid-September 2021. Once this work was completed, the accounts would be submitted to the Finance Committee of the City of London Corporation for approval on behalf of the Court of Common Council.

RESOLVED - That the draft Annual Report and Financial Statements 2020/21 of the School’s charity be received.