Issue - meetings

(a)       That the closedown and transfer of existing moribund and ineffective education trust funds to a newly established ‘Flintshire Community Endowment Fund’ to be managed and administered by the trustees of the Community Foundation in Wales, be noted, given the assurances provided by the Head of Finance in her Section 151 statutory officer role, but noting the potential risks which remain; and

(b)       That the Flintshire Community Endowment Fund be launched with the working arrangements as set out in the report.

The Policy Performance and Partnerships Manager introduced a report to advise of the final arrangements of the ‘Flintshire Community Endowment Fund’ prior to any agreed launch.  In addition the report provided advice from the Head of Finance in her Section 151 statutory officer role in relation to risk, return and value for money as set out in the recommendation to the November 2012 Cabinet report.

            The Policy Performance and Partnerships Manager provided background information and outlined the working arrangements for the closure and transfer of existing moribund and ineffective education trust funds to a newly established ‘Flintshire Community Endowment Fund’ to be managed and administered by the trustees of the Community Foundation in Wales.

Councillor R.J.T. Guest expressed concerns regarding the governance arrangements for the Fund.  He referred to the proposed composition of the Grants Panel and suggested that it would be helpful to include an educational  representative in the membership.  Councillor Guest also commented on the proposal to encourage donations to the Fund from potential philanthropic individuals, companies, businesses and organisations and expressed the view that there was a need to promote independence from the Authority concerning decision making on grant distributions. 

The Chief Executive acknowledged the points made by Councillor Guest.  The Policy Performance and Partnerships Manager referred to the setting up of a North Wales Business Development Group as a strategic body to grow and develop funds.

Councillor N.R. Steele-Mortimer expressed his support for the new Fund.  He referred to the 16 educational trust funds which were moribund or ineffective and asked if details could be provided to the Committee of the purpose and amount in each fund.  Officers agreed to send a list of the funds to members of the Committee.

Councillor D.I. Mackie commented on the need for the Fund to retain links with the original objectives.  The Policy Performance and Partnerships Manager explained that any investment from the Fund would be targeted for educational purposes up to 25 years with specific aims.

Councillor A.I. Dunbar raised a query about the Community Chest fund.  The Policy Performance and Partnerships Manager said that there was no intention to close the Community Chest fund as a result of the establishment of the Flintshire Community Endowment Fund.

In response to a query from Councillor C.A. Thomas concerning applications for funding the Policy Performance and Partnerships Manager explained that the allocation of grants did not replace statutory provision and funding was available for individuals and groups. 

RESOLVED:

 (a)      That the closedown and transfer of existing moribund and ineffective education trust funds to a newly established ‘Flintshire Community Endowment Fund’ to be managed and administered by the trustees of the Community Foundation in Wales, be noted, given the assurances provided by the Head of Finance in her Section 151 statutory officer role, but noting the potential risks which remain; and

(b)       That the Flintshire Community Endowment Fund be launched with the working arrangements as set out in the report.