Agenda item

(i)               To adopt the extension of the terms of reference of the Commercial Ventures Executive Sub-Committee, renamed as the Partner, Shareholder and Trustee Sub-Committee, as approved by Council on 1 December 2022.

(ii)              To approve and authorise the Charities’ Trustee Annual Reports and Accounts for submission to the Charity Commission.

Chairman and Executive Member for Investment and Companies, Councillor Archer, introduced the report on the Governance of the Council’s Charitable Trusts. This recommended the Committee adopts the extension of the terms of reference of the Commercial Ventures Executive Sub-Committee, renamed the Partner, Shareholder and Trustee Executive Sub-Committee, as approved by Council on 1 December 2022.

The report also recommended the Committee approves the Charities’ Trustee Annual Reports and Accounts for the financial year 2021 to 2022 attached to the report; and recommends the Committee authorises the Council’s finance team to submit these to the Charity Commission by 31 January 2023. 

Charities registered in England or Wales must send an annual return to the Charity Commission or report their income and spending every year. The Council is sole trustee for seventeen charitable trusts. The charitable trusts and the Council’s duties as trustee are set out in the report.

The recommendations, as set out in the report, allow the Council’s charities to meet their legal obligations to submit an annual return and accounts.

A Committee Member asked if all the accounts had been audited prior to submission to the Charity Commission. Pat Main, Chief Finance Officer, confirmed that the requirement from the Charity Commission was for independent examination, not audit, which is determined by the nature of the charitable trusts and income receipts each year. Four of the charitable trusts were subject to independent examination by a qualified accountant, as set out in the report, which satisfies the requirements of the Charity Commission.

A Visiting Member asked for assurance that all relevant procedures and processes had been in place historically. Joyce Hamilton, Strategic Head of Legal and Governance, confirmed that the Council has always previously submitted annual accounts on the relevant charitable trusts. Last year, the governance arrangements had been reviewed to give more visibility to the Council and wider public as set out in the report to Council, approved on 1 December 2022.

RESOLVED – that the Partner, Shareholder and Trustee Executive Sub-Committee AGREED;

(i)               To approve the Council’s Trustee Annual Reports (TARS) and Annual Accounts for 2021/22;

(ii)             To authorise Council’s Finance Team to submit the TARS and Annual Accounts to the Charity Commission by 31^st January 2023.

(iii)           To adopt the extension of the terms of reference of the Commercial Ventures Executive Sub-Committee, renamed as the Partner, Shareholder and Trustee Sub-Committee, as approved by Council on 1 December 2022.