The King George's Field Trust Board meeting, held on Wednesday 23 March 2022, saw the approval of recommendations from an independent audit, the appointment of auditors for the upcoming financial years, and discussions on the financial health of the trust and ongoing projects. The board also discussed the renewal of the lease for Stepney City Farm and the potential siting of a memorial sculpture.

King George's Field Trust Update and Approvals

The board noted that the annual accounts and reports for the years ending 2019 and 2020 had been submitted to the Charity Commission. They then discussed recommendations from an independent audit conducted by Arnold and Hill, which identified eight key areas for improvement in the trust's internal controls and financial systems. The board sought and granted permission for the Corporate Director for Children and Culture, James Thomas, and the Corporate Director for Resources, Kevin Bartle, to implement these recommendations.

Key recommendations and management responses included:

• Bank Accounts: The trust currently uses the council's bank account, posing a risk to the completeness of transactions. Officers have taken action with NatWest to set up a separate bank account for the trust, subject to board approval. This was approved by the board.
• Trade Debt: A review process for trade debt is in place and continues to be monitored monthly. Older debts have been written off, and more recent debts are being closely monitored.
• Depreciation: The trust will depreciate assets in the year of acquisition for the 2021 accounts and moving forward, aligning with the external auditors' recommendation, which differs from the council's current policy.
• Rental Income: Officers will ensure that rental income, particularly from the Greenbridge shops, is reconciled and that accruals are set aside for income received in advance, ensuring income and expenditures are recorded in the correct financial year. This will be part of the 2021 accounts preparation.
• Employee Contracts: Auditors noted discrepancies between payments and employee contracts, primarily due to overtime for park officers and incremental pay increases. Officers will provide a reconciliation for future audits.
• Accounting Systems: The auditors recommended setting up a separate accounting system for the trust to minimise the risk of missed transactions. However, after considering the costs and re-engineering of processes, the board, agreeing with Councillor Candida Ronald, Cabinet Member for Resources, and Kevin Bartle, Corporate Director for Resources, decided against this, opting instead to strengthen existing controls and coding structures within the council's ledger.
• Accruals and Prepayments: Officers will ensure accurate accruals are raised at year-end and that management reviews them as part of the 2021 financial year-end accounts preparation.
• Transaction Description: Officers will review transaction descriptions as part of the journal review process before posting to ensure completeness.

The board also approved the appointment of Arnold Hill to audit the trust's accounts for the year ending 2021 and sought permission to appoint them for the current financial year and year-end 2022 for continuity.

Financial Situation and Activities Update

Catherine Boyd, Interim Head of Arts, Parks and Events, provided an update on the trust's current financial situation, noting that the charity has been adversely impacted by COVID-19, particularly in relation to hires and income from corporate volunteers. A deficit is currently showing, which is expected to be balanced through COVID recovery funds. Looking ahead to the next financial year, there is an anticipated increase in hires, and income levels are expected to recover.

Paul Sammut, Parks Engagement and Projects Officer, reported on the engagement activities and improvements made throughout the year. Up to February, 247 engagement activities had been carried out with 7,481 participants. Investments have been made in new bins, benches, upgraded children's play equipment, a new outdoor gym in Myland Park, refurbished multi-use games areas, and new lighting systems. A new outdoor gym is also being installed at Stepney Green Park.

Progress on the five-a-side football pitch in Stepney Green has been slow, with landscape architects now working on designs. A more detailed update will be provided at the next board meeting. The land returned by Crossrail has been reinstated to create a more usable space, including a biodiversity meadow and a dead-end road now used by the farm for activities, which has helped reduce anti-social behaviour.

Mayor John Biggs expressed thanks to the staff for their work in maintaining Myland Park during the COVID period, calling it a real lifeline for local residents. He also praised the new floodlights and the positive feedback received from residents.

Stepney City Farm Lease Renewal and Rent Arrears Report

Stephen Shapiro, Head of Asset Management, presented a report on the renewal of the lease for Stepney City Farm. The lease is due to expire later in the year, and the renewal includes an additional area of land that has been returned by Crossrail. Consent was granted for a new initial 10-year term with a further option for 15 years, which is intended to help the City Farm secure funding for future activities. The board granted consent to conclude the new lease.

The report also covered asset management activities, predominantly within the Greenbridge shops. The board was asked for authority to undertake asset management approaches with tenants, including strategies for tenants with health and safety breaches, where forfeiture may be considered, and for supporting businesses that have experienced arrears issues, particularly in light of the pandemic. The approach aligns with new legislation going through Parliament.

Proposed Sculpture in Mile End Park

Judith St John, Director of Commissioning and Culture, and Catherine Boyd discussed a request from the Match Girls Foundation to place a sculpture commemorating the Match Girls in Mile End Park. While the council is supportive of commemorating this significant historical event, there are concerns about the proposed siting on the Green Bridge due to weight loading and safety considerations, as the current design aims to discourage public access to the edge of the bridge.

The board was informed that engineering reports are being commissioned to assess the feasibility of the Green Bridge location. The council is committed to working with the Match Girls Foundation to find a suitable site, and a formal application process will need to be followed. Mayor John Biggs noted that a previous request for a statue in Myland Park led to policy deliberations regarding local connection and appropriateness. Councillor Sabina Akhtar, Cabinet Member for Health, Wellbeing and Social Care, expressed support for the proposal and suggested that the Match Girls Foundation be given an opportunity to speak at a future meeting when the proposal is formally presented. The board will await a formal proposal and further assessment before making a decision on the siting of the sculpture.