The Chief Finance Officer submitted a report to present for approval the accounts for the year ended 31 March 2018 for charities and trusts for which the Council is the sole trustee.
As part of the decluttering of the Statement of Accounts (SOA) in 2015/16, the previous Trust Funds note was omitted. As an alternative, figures were presented in this report, which included more detail about each charity or trust and provided an opportunity for Members to review and approve the accounts.
The report indicated that three of the charities or trusts held external investments. No sums had been disinvested and reinvested, but the market value of investments varied from year to year. Such changes in market value were reflected in the relevant accounts. Out of the fiver charities included in the report, one was registered.
Members recognised charities as a valuable asset to the council and requested an investigation into the feasibility of merging or fully utilising some of the charities together in order to make their administration easier. It was agreed that the Legal department would be approached to investigate this.
RESOLVED – That the accounts presented in Appendix A to E be approved.