Issue - meetings

Division/Wards Affected: All

Purpose: The purpose of this report is to present to Cabinet for approval the 2018/19 Investment and Fund strategy for Trust Funds for which the Authority acts as sole or custodian trustee for adoption and to approve the 2018/19 grant allocation to Local Authority beneficiaries of the Welsh Church Fund.

Author: Peter Davies - Head of Resources

Contact Details: peterdavies@monmouthshire.gov.uk

That the proposed Investment and Fund Strategy for 2018/19 for the Monmouthshire Farm School Endowment Trust Fund be approved.

That the proposed Investment and Fund Strategy for 2018/19 for the Welsh Church Fund be approved.

To delegate responsibility for the execution and administration of treasury management decisions to the Head of Finance (S151 officer) who will act in accordance with the Investment and Funds Strategy (appendix 2).

To approve the 2018/19 grant allocation to Local Authority beneficiaries to the Monmouthshire Welsh Church Act Fund of £200,000 to be distributed in accordance with population shares as per the 2010 Census.

To endorse the principle that 2018-19 grant allocation in respect of Monmouthshire Farms trust fund accord closely with the previous year’s investment return at the end of March 2017, to avoid eroding the overall fund. Total investment returns were £24,816 as per the final audited 2016-17 accounts.

To endorse the Welsh Church Fund Principles, Policy Considerations and Grant Allocation Criteria for 2018-19 (Appendix 6) as considered and approved by the Welsh Church Fund Committee on the 18th January 2018.