Agenda item

Report of the Chamberlain.

The Board considered a report of the Chamberlain regarding the Charities administered in connection with the City of London Freemen’s School and an opportunity to consider whether part of the cash balance should be invested in the City of London Charities Pool.

In response to Governors’ questions, the Chamberlain advised that the current balance of the City of London Charities Pool was approximately £21 million and the Bursar advised that donations towards bursaries from Livery companies were not included as they were held in a separate fund. The Chamberlain added that he would check whether the Charities Pool funds were measured against all equities and clarify for Governors.

RESOLVED – That:-

a)    the annual report and financial statements for the Charities administered in connection with the City of London Freemen’s School be noted; and

b)    authority be delegated to the Town Clerk, in consultation with the Chairman and Deputy Chairman of the Board, to consider whether to invest part of the cash balance in the City of London Charities Pool.