Agenda item

To submit a report by the Director of Function (Resources)/Section 151 Officer.

Councillor Robin Williams, Portfolio Member for Finance presented the report by the Director of Function (Resources)/Section 151 Officer incorporating the Annual Report and Accounts for the Anglesey Further Education Trust for the year 2020/21 as attached at Appendix A and he reported on how the Fund had been utilised during 2020/21.

In October, 2019, the Executive resolved to allocate a one off sum of £55,000 to each secondary school to fund the cost of Learning Coaches within each school. The Learning Coaches would support senior pupils undertaking GCSE and A Level courses. It would be for each school to decide over what period the funding would be used. This was to be funded from the Anglesey Further Education Trust Funds 1/3 Restricted Fund the purpose of which is to provide financial assistance to senior pupils of the 5 secondary schools to complete their course. Details of the expenditure incurred by each school is set out in the table at paragraph 5.2 of the report.  The Executive also resolved to allocate an additional £8,000 per secondary school to provide grants to assist financially disadvantaged students to obtain places at colleges and universities and/or to help with the purchase of books and equipment required to attend courses in the first year. The total cost of £40,000 was to be funded from the Anglesey Further Education Trust Funds 2/3 Restricted Fund which had a balance of £151, 216 as at 1 April, 2020. The schools themselves would administrate the award of the grants; however due to the pandemic, schools were not in a position to invite applications during the 2020/21 school year and as a result no grants were awarded.

During 2020/21 the first few of the new scholarships being offered through Coleg Cymraeg Cendlaethol were awarded with four former pupils each receiving £500. A grant of £7,452 was also made to a former pupil to enable them to complete their higher education. The balance of £172, 729 is available for distribution either through the schools or through Coleg Cymraeg Cenedlaethol.

The Director of Function (Resources)/Section 151 Officer referred to the composition of the Anglesey Further Education Trust which includes three funds – the David Hughes Endowment Fund, the Anglesey Further Education Fund 1/3 and the Anglesey Further Education Fund 2/3 both of which provide specific educational benefits. A quarter of any net surplus income on the Endowment Fund is paid to The David Hughes Charity for the Poor which is unconnected to the Council and the remaining income is then transferred to the Anglesey Further Education Fund (sub-divided into the two funds above). The Value of the David Hughes Charitable Estate (Endowment Fund) as at 31 March, 2021 was £4.276m which is made up of the value of properties, investments and net current assets. This is an increase of £26,194 on the value as at 21 March, 2020. The Further Education Trust Fund as at 31 March, 2021 was £339,347 with the value of the 1/3 Fund standing at £166,618 and the value of the 2/3 Fund standing at £172,729. £108, 173 was utilised for charitable purposes.

Councillor R. Meirion Jones, Portfolio Member for Education, Libraries, Youth and Culture welcomed the report and the positive utilisation of the Trust Fund for the benefit of Anglesey students which it reflected. He thanked everyone who had been involved in the task of reviewing and restructuring the Trust Fund which process had enabled the Fund to be used effectively for the charitable purposes for which it was intended, saying that he regarded this achievement as one of the successes of the current Administration.

It was resolved to approve the Annual Report and Accounts for the Anglesey Further Education Trust for the year 2020/21 as set out in Appendix A to the report.