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Items
No. Item

1.

Apologies

Minutes:

As noted above.

2.

Minutes pdf icon PDF 35 KB

To submit, for confirmation, the minutes of the meeting held on 12 December, 2018.

Minutes:

The minutes of the meeting held on 12 December, 2018 were confirmed.

3.

Declaration of Interest

To receive any declaration of interest by any Member or Officer in respect of any item of business.

Minutes:

Mr Aled M Jones declared a personal interest regarding Item 6 – Anglesey Young Farmers but following legal advice it was noted that he was able to take part during discussion but not to propose or vote as regards to the matter.

 

Ms Llinos M Huws declared a prejudicial interest in respect of Item 6 – Future Funding for Urdd Gobaith Cymru and Anglesey Young Farmers and left the meeting during discussion and voting thereon.

 

Mr Bob Parry OBE FRAgS declared a prejudicial interest in respect of Item 6 – Future Funding for Urdd Gobaith Cymru and Anglesey Young Farmers and left the meeting during discussion and voting thereon.

 

Mrs Nicola Roberts declared a prejudicial interest in respect of Item 6 – Future Funding for Urdd Gobaith Cymru and Anglesey Young Farmers and left the meeting during discussion and voting thereon.

4.

Annual Report 2017/18 pdf icon PDF 195 KB

To submit, for adoption, the Annual Report 2017/18.

Minutes:

Submitted – the draft Annual Report 2017/18 by the Treasurer for adoption by the Charitable Trust.

 

The Treasurer referred that the Trust performance to date against the long-term objective and that the value of the endowment should increase in line with inflation.  He noted that whilst overall value of the Trust at 31 March, 2018 had reduced by £946k in comparison to the previous year, the Treasurer reiterated that financial markets can be volatile as investments can fluctuate from day to day and that the overall financial position of the Trust was healthy and the figures did not reflect a long term downward trend in the value of the Trust.

 

The investment performance of the portfolio of the Charitable Trust has realised an investment income of £601,412 being £26,692 below the target of £628,104.   However, the income generated exceeded the expenditure incurred by £124,302.  A list of grants awarded within the usual annual categories and a list of larger grants were included within the report.  The Treasurer reported that the balance sheet as at 31 March, 2018 showed that ‘Allocations not Defrayed’ (grants to organisations that have not been released/materialised) showed an increase but this is not unexpected as the Trust in 2017/18 has supported and increase in the number of larger grants.  It was noted that a total grant allocation of £928,579 was afforded in 2017/18 in comparison to £770,996 in 2016/17.

 

RESOLVED to approve the Annual Report and Accounts for 2017/28 and to authorise the Chair to sign the final version.

 

 

 

 

 

 

 

RESOLVED to approve the Annual Report and Accounts for 2017/18 and to authorise the Chair to sign the final version. 

5.

Budget 2019/20 pdf icon PDF 56 KB

To submit a reprot by the Treasurer in relation to the above.

Minutes:

Submitted – a report by the Treasurer in relation to the above.

 

The Treasurer reported that this report confirms the funding allocations for 2019/20.  The latest projection for investment income during 2019/20 is £672,000.  The Management Fee is based on a flat rate of 0.4% and in 2019/20 it is projected to be £104,000.  There was a £41,449 surplus in Reserves brought forward from 2017/18 which can be seen in the Statement of Financial Activities of the Annual Report 2017/18.

 

The Treasurer recommended the following as the grants budget for 2019/20:-

 

Oriel Ynys Môn                                                                             £215k

Village Halls                                                                                       £80k

Community and Sporting Facilities & Minor Grants                   £125k

 

Larger Grants – Long Term Commitments :-

 

Menter Môn                                                                                          £63k

 

The Treasurer noted that in 2014/15, the Charitable Trust resolved to allocate grant funding to the Anglesey Young Farmers, Urdd Gobaith Cymru and Island Games Association on an annual basis for a period of 5 years.  The full amount allocated to each organisation was accrued for in the 2014/15 accounts even though only part of the funding was paid over to the organisations in that year.  The outstanding balance of £16,667 to the Urdd, £22,500 to the Young Farmers and £40,000 to the Island Games Association are shown on the Trust’s Balance Sheet as Allocations not Defrayed.  These payments will be made in 2019/20 but no budget is required to be allocated as the sums were accrued for in 2014/15.

 

It was RESOLVED :-

 

·      To adopt a budget for 2019/20 as follows :-

 

Oriel Ynys Môn                                                                      £215k

Village Halls                                                                                £80k

Community and Sporting Facilities & Minor Grants       £125k

Larger Grants from the Capital Fund                                  £350k

Continued Long Term Commitments                                  £63k

 

·      To delegate to the General Grants Committee the sum of £125k to deal with applications for Community and Sporting Facilities & Minor Grants.

6.

Future Funding for Urdd Gobaith Cymru and Anglesey Young Farmers pdf icon PDF 22 KB

To submit a report by the Treasurer in relation to the above.

Minutes:

Having declared a personal interest Ms Llinos M Huws, Bob Parry OBE FRAgS and Nicola Roberts left the meeting during discussion on the matter.

 

Mr Aled Morris Jones declared a personal interest in the discussion as regards to the Anglesey Young Farmers but following legal advice he was able to take part during discussion but not propose nor vote as regards to the matter.

 

Submitted – a report by the Treasurer in relation to the above.

 

The Treasurer reported that in June 2014, the Trust resolved to award the Urdd an annual grant of £40k and to award the Anglesey Young Farmers’ an annual grant of £30k both for a 5 year period.  He noted that up until 2016, the Trust awarded grants through its Small Grants allocation with grants up to £8,000 although it had awarded larger grants to a number of other organisations on an ad-hoc basis, with applications assessed on their own merits with no consideration of any other potential applications.   Both the Urdd and Anglesey Young Farmers had received their grant funding through this ad-hoc process.  The Charitable Trust in 2017 resolved to introduce a larger grants process with funding of these grants from the growth in the capital value of the portfolio; this also reduced the demand to fund grants in their entirety from the annual revenue income generated.  The Trust also at its meeting in December 2017 resolved that applications from organisations that have previously received funding within the last 5 years can be considered as part of the larger grants process, but only when all other applications have been considered and funding remains unallocated.   Applications have been invited from organisations for large grants with a deadline for receiving applications at 25 January, 2019, and the applications will be considered by the Regeneration Committee at its meeting to be held on 13 February, 2019.  Despite this formal structured process being in place since 2017, the Trust has awarded a grant to the Menter Môn Leader project and pupils from Ysgol Gyfun Llangefni outside the annual large grant process.  In addition the Trust has resolved in principle to award a grant to the Anglesey Island Games Association to assist them with funding the hosting of the Island Games in 2025. 

 

At the meeting of the full Trust on 12 December, 2018, where the funding of both the Urdd and Anglesey Young Farmers were discussed, members of the Trust accepted that both organisations are paramount in affording young people opportunities to take part in competitions and activities, however it was also considered that all organisations should be dealt equally as part of the grant awarding process.  As noted within the report three options were outlined within the report in dealing with the funding applications from both the Urdd and Anglesey Young Farmers. 

 

Most Members of the Trust considered that both organisations needs to be considered outside the annual large grant process as they afford opportunities to young people and are paramount in securing and promoting the  ...  view the full minutes text for item 6.

 

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