Agenda item

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

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

The Treasurer stated that the report is to confirm the funding allocations for 2017/18.  The current value of the Charitable Trust portfolio is £22,487,169.  The latest projection for investment income during 2017/18 is £675,000.  He noted that the Trust and its meeting held on 13 September, 2016 agreed to pay a contribution for the salaries of the Officers of the Isle of Anglesey County Council acting on behalf of the Trust.  The budget for this in 2017/18 is £30k. 

The recommended grants budget for 2017/18 is :-

Oriel Ynys Môn                                                                    £215k

Village Halls                                                                           £70k

Community and Sporting Facilities & Minor Grants      £100k

Larger Grants – Long Term Commitments :-

Anglesey Young Farmers                                                  £30k

Urdd Gobaith Cymru                                                           £40k

Ynys Môn Island Games Association                               £40k

Menter Môn                                                                         £110k

It is proposed to cut the budget for the Village Halls from £80k as awarded in 2016/17 to £70k.  This is reflected in recent take up from the Village Halls budget.

It is also proposed to cut the budget for the Community and Sporting Facilities and Minor Grants from £125k as awarded in 2016/17 to £100k.  This is reflected in recent take up from the Community and Sporting Facilities and Minor Grants budget.

The Treasurer further reported that at its meeting on 1 November, 2016, the Investment and Contracts Committee resolved that an allocation of £350k be made available for funding towards larger grants in 2017/18.

Matters raised by Members of the Charitable Trust :-

·           Questions raised as to terms of the grant afforded to Menter Môn with regard to match-funding from European resource and whether monitoring of the project takes place.  The Treasurer responded that a monitoring process has been put in place and an update report will be presented to the Committee to detail the progress of the grant funding by Menter Môn;

·           Members expressed concerns that the grants to Village Halls and Community and Sporting Facilities and Minor Grants had been reduced.  It was recommended that the grants be reinstated and that the advertisement for the annual small grants should be enhanced similar to the larger grants through the website and social media;

·           Members considered that the Regeneration Committee should carefully consider the applications received for larger grants as it may materialise that most of the applications may be worthy of support.  The Treasurer responded that the Regeneration Committee may request the full Trust to increase the allocation towards larger grants but the Trust must be aware that it depends on the growth of the Trust fund during the financial year; HSBC Investment Management will forecast the growth of the investment of the Trust fund.

It was RESOLVED :-

·           To adopt a budget for 2017/18 as follows :-

Oriel Ynys Môn                                                                        £215k

Village Halls                                                                              £80k

Community and Sporting Facilities & Minor Grants      £125k

Isle of Anglesey County Council (contribution for         £30k

the salaries of the Officers of the County Council)

Larger Grants from the Capital Fund                                 £350k

Continued Long Term Commitments                                £220k

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