Issue - meetings

Consideration was given to a report of the Director of Finance which recommended approval of the Clayton Playing Fields Trust accounts to enable the Trustees to make an appropriate resolution at their Annual General Meeting to approve the accounts of the Clayton Playing Fields Trust for the year ended 31 March 2020.

The Committee were informed that the Charity Commission required all charities to hold an annual general meeting and approve the latest year’s financial statement at the meeting. It was also a requirement than an annual return be sent to the Charity Commission with, amongst other things, the main financial details. The presentation of the report and approval of its recommendations would enable the Trustees to discharge this requirement.

The Committee noted the summary of the financial position of the Trust and the following key points:-

·         Expenses of £39,132 were incurred which were higher than the £37,985 incurred in 2018/19.

·         Income from lettings was £8,540 which was a reduction of £85 from the £8,625 received in 2018/19.

·         Interest on investments was £465, an increase of £105 from 2018/19.

·         The Council was required to make up the deficit which for 2019/20 was £30,127, which was an increase of £1,127 compared to 2018/19. This was funded from the Councils Asset Management budget.

·         The Trust had investments of £54,000 which were managed by the Council.

RESOLVED that the Clayton Playing Fields Trust accounts for the year ended 31 March 2020 be approved.