Agenda item

Joint report of the Chamberlain and the Bursar of the City of London School for Girls.

Governors considered a joint report of the Chamberlain and the Bursar presenting the Risk Register 2021/22 for the City of London School for Girls’ Bursary Fund incorporating the City of London School for Girls’ Scholarships and Prizes Fund and the following points were made:

·         The Risk Register for the City of London School for Girls’ Bursary Fund incorporating the City of London School for Girls’ Scholarships and Prizes Fund currently contained eight risks.  Of these risks, six were rated ‘Green’ and two were rated ‘Amber’ and comprised ‘Risk of decline in the capital value of investments held in and the annual investment income derived from the City of London Charities Pool’ and ‘Funding from the City may reduce’.  There were no ‘Red’ rated risks and all risk scores remained unchanged from February 2021. 

·         In considering the update, the Chairman underlined the need to ensure that the risk register captured any issues arising from the growing focus on transformational bursaries.  In response to a further question from the Chairman, the Group Accountant confirmed that the City of London School for Girls’ Bursary Fund incorporating the City of London School for Girls’ Scholarships and Prizes Fund was held in the City of London Corporations Charities Pool which was managed by the Investment Committee.

RESOLVED, that the risks facing the charity were satisfactorily set out in the Risk Register 2021/22 and that appropriate measures were in place to mitigate those risks.