PAPER E
Purpose: For
Decision
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Committee: |
EXECUTIVE |
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Date: |
24 SEPTEMBER 2002 |
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Title: |
JULIA MARGARET CAMERON TRUST |
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JOINT REPORT OF THE PORTFOLIO
HOLDERS FOR RESOURCES AND EDUCATION AND
LIFELONG LEARNING |
SUMMARY/PURPOSE
To consider
a request for financial assistance to the Trust in support of its Business
Plan.
BACKGROUND
1. At its
meeting on the 16th February 2000, Policy Committee approved a one
year ,10,000 interest free loan to the Trust and asked
that a satisfactory Business Plan be drawn up by the Trust for approval by the
Council prior to any further financial assistance being considered. A Business
Plan was produced by independent consultants and the Executive Committee
approved a 3 month extension of the loan period at its meeting on 5th April
2001 to enable the Council to consider the Trust==s response
to it. The Trust subsequently adopted the Business Plan and asked the Council
to convert the loan into a grant. The loan period has since been extended by
the Executive Committee at meetings on
24th July 2001, 27th November 2001, and 26th
March 2002, in the hope of considering this matter with reference to a Review
of the Council==s procedures for making loans and grants. The
latest extension is until 30th September 2002.
2. A paper
on the review of the Council==s grant
procedures was considered at the Resources Select Committee on 10 October 2001,
resulting in the setting up of a task group to look into matters further. The
grants review is expected to come before the Executive in October 2002, but
even if its recommendations are adopted, implementation of the scheme will not
be until April 1st 2003.
3. Members
have thus far opted to make a final decision in this matter with reference to
the grants review. If Members still wish to await the outcome of this Review,
then consideration must be given to extending the term of the loan. Otherwise,
the loan should be converted to a grant or be repaid. Members may wish to
consider the funding of the grant as part of the 2003/04 budget setting
process.
4. If
support were to be considered for converting
the loan into a grant, then it should be made with the condition that
the grant is to support a Centre Manager post as identified in the Business
Plan. This is a strategic post that should bring its own dividends to the
future performance of the Trust.