Agenda item

Report of the Chamberlain.

The Committee received a report of the Chamberlain providing the Draft Annual Report and Financial Statements for the year ended 31 March 2017. It was noted that total funds had decreased by £1,371 to £148,965 and that the City of London Corporation had provided £95,056 in charitable funds.

It was noted that City Corporation expenditure on the College and Almshouses exceeded the current revenue income from its share of the Gresham Estate. Acknowledging this, the Chairman observed that the Committee had a moral obligation to ensure those in the Almshouses and at the College were provided for.

RESOLVED – That the report be noted.