Agenda item

Report of the Chief Grants Officer.

The Committee received the regular progress report of the Chief Grants Officer and discussed the updates, including the recommendations in the report for carry forwards linked to substantial pieces of work to inform spend.

With regard to Stepping Stones, Members noted that the second round of applications was reaching a conclusion, with 15 organisations being recommended for funding at a total grant value of £783,500. Consultation with charities and social investment specialists demonstrated the continued need for the Stepping Stones programme and, as such, officers were proposing a third round in summer 2016. In order to announce details of this at a reception with UBS planned for 22^nd April, Officers were requesting an allocation of £500,000 from the Trust’s 2016-17 grants budget be considered at this meeting. Members extended their thanks to UBS for co-funding the project.

RESOLVED – That:

a)    £500,000 be allocated from the 2016-17 grants budget towards a third round of the Stepping Stones Fund, launching in the summer;

b)    £1,200,000 be carried forward from the uplifted grants budget for the new employability programme;

c)    £850,000 be carried forward from the uplifted grants budget for the new infrastructure programme.