Decision Maker: Executive Shareholder and Trustee Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: September 11, 2025

Purpose:

Content: Decision: That the Charity resolves:   (1)         To request further funding from the Trustee of £114,279.41 to cover the actual deficit for 2024-25 in accordance with the Management Agreement.   (2)         To agree the estimated financial deficit of £85,474 for 2025-26 in accordance with the Management Agreement and request further funding from the Trustee to meet the contractual obligation.   (3)         To agree the estimated financial deficit of £20,572 for the financial year 2026-27 and request further funding from the Trustee to meet the contractual obligation.   (4)         In accordance with the Management Agreement, to approve the business plan subject to variations to the sub-lease being agreed.   (5)         To note that further funding is not anticipated past 2026-27.   Reasons:   ·      The request for additional funding from the Charity for 2024-25, 2025-26 and 2026-27 in accordance with the Management Agreement, will ensure that the Management Company is able to continue delivering its aims, supporting the Charity’s objectives, and meeting its financial obligations.  The Charity does not have sufficient funds to cover the additional funding from its own resources and therefore needs to seek funding from the Trustee to meet its contractual obligation. ·      The agreement of a 3-year business plan allows the Charity to have clarity of the future proposals for the Management Company whilst considering and agreeing the plan for the current financial year. The business plan relies on some variations of the sub-lease which need to be formalised. The approved business plan is then used as a mechanism for requesting additional funding from the Charity in accordance with the management agreement.    Other options considered and rejected by the Committee: Do nothing   Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted: None.