Agenda item

Report of the Chamberlain.

Governors considered a report of the Chamberlain regarding the City of London Freemen’s School Bursary Fund Draft Annual Report and Financial Statements for the year ended 31 March 2017 and the following points were made.

·         The Headmaster noted that Bursary criteria had the potential to preclude allocating more money to bursaries, as often deserving cases were turned down as parents or family members failed the criteria through owning assets such as property.

·         The Headmaster noted that the School had identified a recipient of a Boarding Bursary.

RESOLVED, that Governors,

·         receive the draft 2016/17 Annual Report and Financial Statements for the City of London Freemen’s School Bursary Fund;

·         endorse that cash of £28,764 be invested in the Charities Pool on 1 October 2017; and

·         note that the next review of the available cash balance will be presented to the June 2018 Board meeting.