Agenda item

Progress Report and Events

To receive a progress report of the Chief Grants Officer.

Minutes:

The Committee received the regular progress report and events update of the Chief Grants Officer. As an outcome of the recent Away-Day, a programme of strategically focused sessions would be drawn up for the Committee’s meeting in January 2015, to begin in March 2015.

 

The Youth Offer had held a mid-way learning event on 18th November, the outcome of which would provide good knowledge and information for organisations and grants made in the future. With regard to the London Living Wage, a condition was being introduced into the Trust’s grant offer letter stipulating that any post funded in whole or part by the City Bridge Trust must pay at least the London Living wage; Members noted this should not include apprenticeships. Members also noted the launch of Stepping Stones, a social investment programme with a London focus, and at encouraging small and medium businesses to engage with the social investment market.

 

In response to Members’ questions concerning comments regarding the cost of generating funds, the Chamberlain reported that there was a lot of variability owing to the range of activities and, although analysis was undertaken on every application, a comment was only provided for those where the cost of generating funds was outside a range of 5 - 35% of turnover. After a short discussion, it was agreed that, in addition to this, a comment would be provided on other applications, where appropriate, to reflect whether the costs were reasonable.

 

RESOLVED – That:

(a)  From 1 January 2015, the City Bridge Trust will require all organisations being offered a grant to support all or part of a post to pay at least the London Living Wage in respect of that post (except for apprenticeships), and that officers make the appropriate amendments to the grant offer letter and guidance;

(b)  A comment on applications, where appropriate, to reflect whether the costs were reasonable, as well as those where costs of generating funds fell outside a range of 5-35% of turnover; and

(c)  The report be noted.

Supporting documents: