Agenda and minutes

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

Declaration of Interests received as follows:-

Mr Vaughan Hughes declared a personal interest in relation to Item 5 – Cwmni Frân Wen application.

Mr R Meirion Jones declared a personal interest in relation to Item 5 – Cwmni Frân Wen application.

Mr Dylan Rees declared a prejudicial interest in relation to Item 5 – Llangefni Urban Sports Park (Llangefni Social Enterprise) application.

Mrs Nicola Roberts declared a personal interest in relation to Item 5 – Llangefni Urban Sports Park (Llangefni Social Enterprise) application.

To submit, for confirmation, the minutes of the meeting held on 19 September, 2017.

The minutes of the meeting held on 19 September, 2017 were confirmed as correct.

Investments and Contracts Committee

To submit, for confirmation, the minutes of the Investments and Contracts Committee held on 7 November, 2017.

Investments and Contracts Committee

The minutes of the meeting of the Investments and Contracts Committee held on 7 November, 2017 were confirmed as correct.

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

Submitted – the report of the Treasurer as regard to the process for the awarding of large grants including determining the level of funding available and the process for monitoring grants awarded to the organisations.

The Treasurer reported that in 2016, 4 organisations received grant support by the Trust totalling £230k and in 2017 a more formal process was undertaken with an open invitation extended to organisations to submit applications for assistance.  A total of 31 applications were received and 12 applications were successful with grants awarded of between £10k and £50k which totalled to £350k.  A detailed report detailing the progress made in respect of each project was included as a separate item on this Committee.

He noted that the Investment and Contracts Committee at its meeting held on 7 November, 2017 following consideration of the performance of the investment portfolio over the preceding 12 months and after consideration of the risks and the need to maintain the value of the fund at a level that generated sufficient annual income, the Committee recommended that the sum to be made available for larger grants should remain at £350k.

Mr R Meirion Jones referred to the recent extreme flooding of homes and businesses on the Island.  He ascertained whether a support fund could be established by the Trust for such emergencies.  The Secretary of the Trust was asked to research whether it was appropriate for the Charitable Trust to established such a fund and to report back to the next meeting of the Trust.

Some Members considered that whilst they sympathised with the residents of the Island who have experienced flooding to their homes and business, that it was not considered a charitable function within the Charitable Trust guidelines.

Following further deliberations it was RESOLVED :-

·      That larger grants are allocated again in 2018 and that the CIO, once set up, reviews whether awarding larger grants continues from 2019 onwards;

·      That the sum of £350k, as recommended by the Investment and Contracts Committee, is allocated to fund the larger grants in 2018;

·      That applications are invited immediately with a closing date for applications being 31 January, 2018;

·      That applications received are considered by the Regeneration Committee at its meeting to be held on 14 February, 2018 with recommendations to the full Trust being considered on 17 April, 2018;

·      That applications can be made by organisations who have received funding within the previous five years but that these will only be considered once all other applications have been considered and that funding is still available;

·      To request the Secretary of the Charitable Trust to research whether it is appropriate for the Trust to establish a fund to give assistance to residents of the Island who have experience flooding to their homes and business recently and to report back to the next meeting of the full Trust.

To submit an update report by the Treasurer in relation to the above

Submitted – the report of the Treasurer as regard to the status of the large grants awarded in 2016 and 2017.  A list of the large grants awarded were attached as Appendix A to this report.

The Treasurer reported that funding agreements have been put in place with all the ‘live’ projects where match funding has been secured with the exception of the National Eisteddfod.  Project Engagement visits have been held with all of the projects with the exception of Cyngor Cymuned Llanfair ME.  A programme of monitoring visits will be carried out over the life of the projects to ensure that they are being managed properly, progress is being made and expenditure can be fully evidenced.  He further reported that progress with the capital projects has been slow mainly due to issues with securing match funding but in some cases the Charitable Trust support has acted as a catalyst for securing additional funding.

Members discussed in detail the criteria for funding of the larger grants and specifically as regard to applications that are dependent on securing match funding from other sources i.e. Big Lottery funding.  Discussion took place as to whether the scoring matrix was sufficient to deal with such applications and whether a condition needs to be attached that an application that needs to be in a position to proceed immediately and would have priority before an application that was not in a position to move the project forward without other source of funding.  Some Members were of the opinion that the current criteria and scoring matrix was sufficient as at present and to review the situation within a year. 

Following the voting process it was RESOLVED :-

·           To note the report;

·           To include a criteria regarding the ability to proceed in the scoring matrix.