Agenda item

Report of the Town Clerk.

The Committee considered a report of the Town Clerk regarding the future of Signor Pasquale Favale Bequest, in the light of Recommendations 1.6 and 3.1 of the cross-cutting review of grant giving activities to consolidate small similar charities to create a single, larger and more flexible fund to streamline and align governance arrangements.

It was RESOLVED that the Signor Pasquale Favale Bequest would not be combined with any other smaller charities to create a single, larger fund and should therefore continue to operate in its current format. Members cited the Bequest’s historical importance and the positive publicity it brought to the City of London Corporation as reasons for this decision.