Agenda item

Report of the Chief Funding Director

The Committee considered a report of the Chief Funding Director providing details of funds approved and rejected under delegated authority since the last meeting of the Funding Committee in June 2023; the remaining 2023/2024 grants budget; grants spend to date and for this meeting by London Borough compared with the Multiple Index of Deprivation; any grant variations that have been approved under delegated authority; and seeking approval for one grant between £500,000 and £1,000,001.

The Chair introduced the item and drew Members’ attention to the funding application in respect of Money4You, which was approved. In response to a question from the Chair, the Chief Funding Director advised that officers were comfortable with the current volume, rate and reasons for rejections agreed, adding that officers would assess whether the new website had affected these figures.

The Chief Funding Director confirmed that IVAR Flexible Funding Commitments guidelines had been implemented through various areas of current policy and practice, plus across the application process.

RESOLVED - That the Funding Committee of the Bridge House Estates Board, in the discharge of functions for the City Corporation as Trustee of Bridge House Estates and solely in the charity’s best interests:

i)                Receive this report and note its contents; and

ii)               Approve a grant of £552,700 over five years (£100,000; £105,000; £110,300; £115,800; £121,600) towards Money4You’s (no. 1157549) AVOCODO programme for BAMER organisations in London.