Agenda item

Report of the Interim Executive Director, Environment.

The Committee considered a report of the Interim Executive Director, Environment, which provided the complete list of the current designated, unrestricted, and restricted income funds held for Epping Forest and each of the Commons Charities, together with the recommended future usage and changes required for these funds, in order to meet charity accounting SORP rules.

In response to a question about the release of designated funds back into the unrestricted income pot, the Chamberlain confirmed that this income could not be spent until it had been re-designated by the Committee.   Members noted that the ownership structure constrains how funding can be used and further guidance would be required, before seeking input from local meetings, in terms of priorities.  The Chairman advised that this would be explored further at the Awayday. 

RESOLVED, that:

1.      Members of the Epping Forest and Commons Committee, acting for the City Corporation as the Conservators of Epping Forest:

a)      Note the contents of the report as they relate to the funds of Epping Forest.

b)      Approve the release of three designated income funds in Epping Forest back into the Epping Forest unrestricted income fund:

•        South Lodge the Warren (Loughton Golf Course) - current balance £496,800.

•        Sport Ground Deposit – current balance £4,061

•        Branching Out Project – current balance £42,423

2.         Members of the Epping Forest and Commons Committee, acting for the City Corporation as the Trustee of the Burnham Beeches and Stoke Common Charity, the Coulsdon and Other Commons Charity, the West Wickham and Spring Park Wood Charity and the Ashtead Common Charity, note the contents of the report as it relates to the review of the funds of those charities.