Agenda and minutes

Venue: Training and Conference Suite, First Floor, Number One Riverside, Smith Street, Rochdale, OL16 1XU

Contact: Caroline Denyer 

Items
No. Item

32.

Declarations of Interest pdf icon PDF 27 KB

    Members must indicate at this stage any items on the agenda in which they must declare an interest.  Members must verbally give notice of their interest at the meeting and complete the form attached with this agenda. 

     

    Members are also advised to take advice with regard to any matter where there is potential bias or predetermination in any business to be considered at the meeting and whether they should take part in decision making at the meeting.

     

    Members are reminded that, in accordance with the Localism Act 2011 and the Council's adopted Code of Conduct, they must declare the nature of any discloseable pecuniary interest; personal interest and/or prejudicial interest required of them and, in the case of any discloseable pecuniary interest or prejudicial interest, withdraw from the meeting during consideration of the item, unless permitted otherwise within the Code of Conduct.

    Additional documents:

    Minutes:

    There were no declarations of interest.

33.

Minutes pdf icon PDF 61 KB

34.

Charitable Trust Committee Accounts 2016/17 -Update pdf icon PDF 71 KB

35.

Potential new investments information

    The Senior Finance Officer to provide a verbal update.

    Minutes:

    The Senior Finance Officer advised the Committee of the monitoring that had been undertaken as to whether other potential investments should be considered for the investment portfolio of the Charitable Trust Funds. This study had been undertaken at the request of the Committee in their role as Trustees for a number of Trusts and their duty to monitor and review the performance of the investment portfolio.

     

    The Committee was advised that the investment for income is currently in a low yield period but that higher reward investments have a higher risk. The investigation had concluded that the investment income received from the current portfolio of investment funds were the best currently available within a level of acceptable level of risk.

     

    The Committee welcomed the information provided and requested that the performance of the investment portfolio be regularly monitored on a six monthly basis.  

     

    DECIDED – that the report be noted.

36.

James Handley Bequest - application for consideration pdf icon PDF 154 KB

37.

Dr Chadwick Trust Update

    The Director of Economy to report.

    Minutes:

    The Committee was provided with a verbal update with regard to the actions taken in respect of the assets held by the Doctor Chadwick Trust Fund. The property assets of the Dr Chadwick Trust, located in Newhey, are formally owned by the Council, but held and administered by the Council through the Charitable Trustee Committee.

     

    At the meeting of the Charitable Trustee Committee held on 8th August 2015 the Trustees had resolved that the Trust should seek to resolve with the Council several anomalies relating to its title to the land and to seek to dispose of a number of interests in the land and property in Newhey in order to realise the full value of the assets for the Trust. Consultation on the proposals had been undertaken with the Pennines Township Committee at their meeting held on 31st May 2016 and the agreed recommendations are expected to be submitted to a meeting of the Cabinet scheduled to be held on the 19th December 2016.

     

    DECIDED – that the report be noted.