Agenda item

Report of the Chief Grants Officer and the Chamberlain.

This Committee received a report of the CGO and The Chamberlain recommending that the City Corporation, consistent with its trustee duties to be transparent in the effective management of the charity’s funds, formally established a further designated fund out of the unrestricted funds of the charity from the income surplus to that required for the maintenance and support of the five bridges.

RESOLVED to:

a)         Recommend to the Court of Common Council that a designated fund be

established for Bridge House Estates (1035628) out of the charity’s unrestricted funds and from the income surplus to that required to maintain and support the bridges for the purposes of the five-year ‘Bridging Divides’ grants programme 2018-2023; and

b)         Delegate authority to the Chamberlain in consultation with Chairman and

Deputy Chairman of the City Bridge Trust Committee, to agree the amounts to be held within this designated fund.