Agenda item

Report of the Chamberlain.

The Board considered a report of the Chamberlain, which provided Governors with the 2014/15 Report and Financial Statements for the City of London Freemen’s School Bursary Fund (Charity No 284769).  Governors were advised that the cash balance was relatively large compared to expenditure levels in recent years and asked whether part of the cash should be invested into the City of London Charities Pool.   An investment of £25,000 was initially suggested but Governors considered that, given the level of cash relative to annual expenditure, an investment of £50,000 should still leave sufficient cash to meet ongoing expenditure requirements. Governors discussed ways to encourage the take up of Bursaries.

RESOLVED - That:

1)  the report be noted; and

2)  £50,000 be invested into the City of London Charities Pool.