NAC 230301 DirApp Revenue Estimates 2023-24 - Common Good Funds and Trusts
North Ayrshire Council · 1 March 2023
Back to North Ayrshire Council — 1 March 2023 and its agenda
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NORTH AYRSHIRE COUNCIL 1 March 2023 North Ayrshire Council Title: Revenue Estimates 2023/24 – Common Good Funds and Trusts Purpose: To advise Council of the anticipated annual income and expenditure of the Common Good Funds and Trusts administered by North Ayrshire Council and seek approval for the level of funding to be made available for disbursement during 2023/24. Recommendation: That Council: (a) approves the 2023/24 revenue estimates for the Common Good Funds and registered Charitable Trusts detailed in Appendix 1; (b) approves the carry forward of funds from Irvine Common Good Fund to meet the costs of essential works required at Seagate Castle, as noted at paragraph 2.2; (c) approves the amounts available for disbursement noted at paragraphs 2.12 and 2.13; (d) agrees to capital spend from the dormant and low value Trusts and the Irvine, Largs and Saltcoats Common Good Funds, and instructs officers to seek approval from the Office of the Scottish Charity Regulator (OSCR) prior to the disbursement of any grant which would result in the winding up of a Trust; (e) notes that OSCR has approved changes to the constitutions and trustees’ powers for the James Dyer Simpson Fund, H Watt Trust and J H Watt Trust, held within North Ayrshire Charitable Trust, to allow the disbursement of the remaining capital and the winding up of the Trusts, where this is considered the most appropriate way of achieving the Trusts’ purposes; and (f) confirm that the remaining capital in the James Dyer Simpson Fund, H Watt Trust and J H Watt Trust should now be disbursed for the Trusts’ purposes and approve the winding up of these 3 Trusts once all funds have been expended.
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1. Executive Summary 1.1 The Council is the custodian of the Common Good Funds for the former burghs of Ardrossan, Irvine, Largs, Millport, Saltcoats and Stevenston and a number of charitable Trusts, which are largely composed of bequests made many years ago. 1.2 This report provides Members with an overview of the financial position of each Common Good Fund and Charitable Trust and recommends the level of expenditure which can be disbursed from each for 2023/24. 1.3 Following delays in previous financial years, previously approved essential works at Seagate Castle have not yet been completed and Council is asked to approve the carry forward of this budget to allow the completion of these works during 2023/24. Should cost projections exceed estimates, a further report will be presented to Council. 1.4 The Common Good Funds and Trusts make annual disbursements of grants to groups and individuals. The level of funding available for these grants is normally set at the net annual income of each Fund or Trust after meeting their expenditure commitments. Where the expenditure commitments exceed the annual income, the recommended budget for grant disbursement reflects the level of disbursements in previous years. 1.5 In order to encourage the utilisation of funds across communities, in particular where the Trusts have been dormant or have low levels of income, it is recommended that, with the exception of those Trusts with significant balances, the full balance of the Trusts are approved as available for disbursement. Any disbursement which utilises the full capital balance will result in closure and will require the approval of OSCR. During 2023/24, the funds within Douglas Sellers Trust and Anderson Park Trust will be exhausted. Approval will be sought from OSCR for the disbursement of any remaining capital and winding up of these Trusts. 1.6 Following proposals submitted by North Ayrshire Council, OSCR has approved amendments to the constitution of and/or the trustees’ powers in relation to the James Dyer Simpson Fund, H Watt Trust and J H Watt Trust, held within the North Ayrshire Charitable Trust. These amendments will allow the disbursement of the remaining capital, where this is considered the most appropriate way of achieving the Trusts’ purposes, and the winding up of the trusts fund, with the approval of OSCR. 2. Background Common Good Funds 2.1 The Council is the custodian of the Common Good Funds for the former burghs of Ardrossan, Irvine, Largs, Millport, Saltcoats and Stevenston. The purpose of the Common Good Funds is to benefit the general population within the defined areas of each of their respective towns.
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2.2 At its meeting on 5 March 2020, Council approved the allocation of £0.250m from Irvine Common Good Fund to meet the costs of urgent and essential works required at Seagate Castle. Following delays in the completion of these works during previous financial years, Council is asked to approve the carry forward of the £0.210m balance to allow the completion of the works during 2023/24. As noted in the previous report to Council, working on a structure as historic as this may flag up further works which may need to be addressed at the same time. Should cost projections exceed estimates, a further report will be presented to Council. 2.3 The Common Good Funds make annual disbursements to groups and individuals based on approved criteria. The levels of grant available for disbursement is determined after all expenditure commitments and projected income from assets has been assessed. Current practice has been for the remaining surplus to be made available for trustees to disburse, ensuring that capital balances are left intact, with the disbursement of funds from the capital balance requiring Council approval. It is recommended that this practice continues for those Common Good Funds with sufficient net income. 2.4 In the case of Irvine, Largs and Saltcoats Common Good Funds the level of expenditure exceeds the level of income. In order to maximise the benefits to the community, it is proposed that the budgets for grant disbursement are set at a level which reflects previous years’ disbursements, with a minimum level for each of £1,000. Charitable Trusts 2.5 The Council also administers a number of Trusts which are largely composed of bequests made many years ago. Of these Trusts, there are only two which accrue significant levels of income; the Spier’s Trust and the Margaret Archibald Trust. The Spier's Trust was founded in 1936 for the administration of Spier's School, Beith and for the provision of certain educational grants and bursaries with the local area of benefit comprising the parishes of Beith, Dalry, Dunlop, Kilbirnie, Lochwinnoch and Neilston. The purpose of the Margaret Archibald Trust is "to apply the capital and income from time to time, at the discretion of the Council, for the charitable purpose of persons in need who have attained sixty five years of age, living in the Parish of Dalry, Ayrshire". 2.6 The remaining Trusts comprise four town Trusts, covering Dalry, Kilbirnie & Glengarnock, Kilwinning and Largs, which provide assistance to persons in need within the defined area of each fund; the North Ayrshire Council Trust, which incorporates a further seven smaller funds; two minor Trusts and a number of sundry bequests listed on Appendix 2.
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2.7 Historically a number of Trusts have experienced periods of dormancy where no grants have been disbursed. OSCR is keen that charities fulfil their charitable purposes and the Council’s external auditors have previously expressed concern about continued lack of activity in these Trusts. If no other action is taken, the annual external audit fee and administrative charges will eventually exhaust these Trusts. As such, the utilisation of available funds through a particular project which complies with the Trust’s purposes should be considered. It is, therefore, recommended that, with the exception of those Trusts with significant balances, the full balances of the town and minor Trusts are made available for disbursement. It should be noted that any disbursement which would result in the winding up of a registered Trust must be approved by OSCR before the relevant Locality Partnership agrees the grant. For those Trusts with significant balances, it is proposed that the budgets for grant disbursement are set at a level which reflects previous years’ disbursements. 2.8 During 2023/24, the funds within Douglas Sellers Trust and Anderson Park Trust will be exhausted. Approval will be sought from OSCR for the disbursement of the remaining capital and winding up of these Trusts. 2.9 As previously reported to Council in March 2021, it had been identified that some of the smaller Trusts have constitutions and trustees’ powers which limit the utilisation of the capital held by Trusts and their subsequent winding up. The Trusts in question form part of the North Ayrshire Charitable Trust, including: • the James Dyer Simpson Fund, current balance £195.86 (21/22: £196.60); • the H Watt Trust, current balance £14.51 (21/22: £14.49); and • the J H Watt Trust, current balance £1,080.94 (21/22: £1,111.48). 2.10 Following approval by Council, proposals to amend the constitutions and trustees’ powers in relation to these Trusts were submitted to OSCR for approval. OSCR has approved the proposed amendments and the Council’s Legal Services team have now amended the trust deeds. 2.11 In order to use the balance of these 3 Trusts in an effective manner, the Trustees are asked to approve expenditure of the remaining funds, including the capital, for the Trust purposes of each fund and the winding up of these 3 Trusts.
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2.12 The following table summarises the anticipated income and expenditure for each Common Good Fund and Trusts and the proposed budget for grant disbursement for each: 2.13 The remaining smaller trusts administered by the Council are listed in Appendix 2. Projected income for 2023/24 is £325 and during 2022/23 thus far there have been no disbursements. Therefore, the full balance 0f £13,383 is available for disbursement during 2023/24. Estimated Balance at 1 April 2023 Estimated Income 2023/24 Estimated Expenditure 2023/24 Available for Disbursement Estimated Balance at 31 March 2024 £ £ £ £ £ Common Good Fund Ardrossan 308,045 46,200 (13,586) (32,614) 308,045 Irvine 1,093,549 92,225 (261,184) (26,500) 898,090 Largs 425,819 25,425 (22,238) (10,000) 419,006 Millport 66,008 1,630 (335) (1,295) 66,008 Saltcoats 15,106 350 (73) (1,000) 14,383 Stevenston 175,310 18,630 (902) (17,728) 175,310 TOTAL 2,083,837 184,460 (298,318) (89,137) 1,880,842 Registered Charitable Trusts Dalry 1,878 47 (160) (1,765) - Kilbirnie & Glengarnock 2,978 75 (165) (2,888) - Kilwinning 36,045 934 (342) (36,637) - Largs 3,301 83 (167) (3,217) - Speir's Trust 55,144 4,623 (1,091) (3,532) 55,144 Margaret Archibald Trust 197,297 11,223 (302) (10,921) 197,297 Douglas Sellers Trust 291 7 (152) (146) - Anderson Park Trust 8 - - (8) - NAC Charitable Trust 42,363 2,912 (284) (2,628) 42,363 TOTAL 339,305 19,904 (2,663) (61,742) 294,804
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3. Proposals 3.1 That Council: (a) approves the 2023/24 revenue estimates for the Common Good Funds and registered Charitable Trusts detailed in Appendix 1; (b) approves the carry forward of funds from Irvine Common Good Fund to meet the costs of essential works required at Seagate Castle, as noted at paragraph 2.2; (c) approves the amounts available for disbursement noted at paragraphs 2.12 and 2.13; (d) agrees to capital spend from the dormant and low value Trusts and the Irvine, Largs and Saltcoats Common Good Funds, and instructs officers to seek approval from the Office of the Scottish Charity Regulator (OSCR) prior to the disbursement of any grant which would result in the winding up of a Trust; (e) notes that OSCR has approved changes to the constitutions and trustees’ powers for the James Dyer Simpson Fund, H Watt Trust and J H Watt Trust, held within North Ayrshire Charitable Trust, to allow the disbursement of the remaining capital and the winding up of the Trusts, where this is considered the most appropriate way of achieving the Trusts’ purposes; and (f) confirm that the remaining capital in the James Dyer Simpson Fund, H Watt Trust and J H Watt Trust should now be disbursed for the Trusts’ purposes and approve the winding up of these 3 Trusts once all funds have been expended. 4. Implications/Socio-economic Duty Financial 4.1 Approval of the budgets will allow each Locality Partnership to disburse individual grants up to the approved levels. All income and expenditure which relates to Common Good properties must be charged to the relevant Common Good Fund. Human Resources 4.2 None. Legal 4.3 All expenditure from Trusts and Common Good Funds must be for the purposes of the Trust or meet the Common Good criteria of benefitting the inhabitants of the Common Good area. Equality/Socio-economic 4.4 None.
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Environmental and Sustainability 4.5 None. Key Priorities 4.6 This report directly supports the Council Plan 2019 to 2024 by supporting active and strong communities through the disbursement of grants to groups and individuals. Community Wealth Building 4.7 None. 5. Consultation 5.1 Legal Services have been consulted on the recommendations and procedures for winding up the Trusts. Click here to enter text. Mark Boyd Head of Service Finance(Chief Executives) For further information please contact David Forbes, Senior Manager (Strategic Business Partner), on 01294 324551. Background Papers None
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Index of Common Good and Trust Funds Page Appendix 1 Common Good Funds Ardrossan 1 Irvine 2 Largs 3 Millport 4 Saltcoats 4 Stevenston 5 Trusts North Ayrshire Council (Dalry) Charitable Trust 6 North Ayrshire Council (Kilbirnie & Glengarnock) Charitable Trust 6 North Ayrshire Council (Kilwinning) Charitable Trust 7 North Ayrshire Council (Largs) Charitable Trust 7 Speir’s Trust 8 Margaret Archibald Trust 8 Douglas Sellers Trust 9 Anderson Park Trust 9 North Ayrshire Council Charitable Trust 10 Appendix 2 Sundry Bequests 11
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Appendix 1 Page | 1 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 305,355 305,358 Projected Common Good Balance Brought Forward at 1 April 308,045 INCOME 38,500 38,500 Rental - Ardrossan Civic Centre 38,500 410 2,890 Loans Fund Interest (on cash balances) 7,700 38,910 41,390 TOTAL INCOME FOR THE YEAR 46,200 EXPENDITURE Property Costs 12,000 12,000 External Property Repairs - Ardrossan Civic Centre 12,000 Others 1,715 1,508 Administration - Charge from Finance 1,586 13,715 13,508 SUB TOTAL OF EXPENDITURE 13,586 25,195 27,882 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 32,614 25,195 25,195 Available for Disbursement as Grants 32,614 - 2,687 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS - 305,355 308,045 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 308,045 COMMON GOOD FUND - ARDROSSAN
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Page | 2 Budget 202/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 1,093,581 1,102,411 Projected Common Good Balance Brought Forward at 1 April 1,093,549 INCOME Property Rentals 25,000 25,000 Woodlands Centre 25,000 11,500 11,500 Bank Street (Church of Latter Day Saints) 11,500 2,500 13,385 Irvine Moor 13,385 13,000 13,000 Ground East Road (McConnachies) 13,000 2,000 2,000 East Road New Car Park 2,000 Other Income 1,117 10,280 Loans Fund Interest (on cash balances) 27,340 55,117 75,165 TOTAL INCOME FOR THE YEAR 92,225 EXPENDITURE Property Costs 500 581 General Repairs 500 10,033 10,197 Rates on vacant properties (36/38 Bank Street) 10,500 2,310 2,000 Electricity 3,110 30,445 28,995 Grounds Maintenance* 30,445 220,000 10,000 Property Maintenance - Seagate Castle 210,000 1,000 400 Other Property Costs 1,000 264,288 52,173 255,555 Others 4,673 5,354 Administration - Charge from Finance 5,629 4,673 5,354 5,629 268,961 57,527 SUB TOTAL OF EXPENDITURE 261,184 (213,844) 17,638 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (168,959) 26,500 26,500 Available for Disbursement as Grants 26,500 (240,344) (8,862) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (195,459) 853,237 1,093,549 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 898,090 COMMON GOOD FUND - IRVINE * For the upkeep of ground at the Moor, Low Green, Recreational Parks, Galt Avenue, Old Parish Church, Redburn Community Centre, Berry Drive
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Page | 3 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 436,275 436,476 Projected Common Good Balance Brought Forward at 1 April 425,819 INCOME Property Rentals (Including Insurance Premiums) 7,315 7,315 Haylie House 7,315 1,250 1,250 Douglas Park Bowling Club 1,250 210 210 Douglas Park Grazings 210 5,245 6,033 Douglas Park Tennis Club & Children's Nursery 6,000 Other Income 568 4,000 Loans Fund Interest (on cash balances) 10,650 14,588 18,808 TOTAL INCOME FOR THE YEAR 25,425 EXPENDITURE Property Costs 3,321 3,591 Electricity 5,584 12,199 12,199 Grounds Maintenance* 13,462 - - Property Maintenance - 2,122 1,590 Other Property Costs 1,000 Others 2,374 2,085 Administration - Charge from Finance 2,192 20,016 19,465 SUB TOTAL OF EXPENDITURE 22,238 (5,428) (657) SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 3,187 10,000 10,000 Available for Disbursement as Grants 10,000 (15,428) (10,657) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (6,813) 420,847 425,819 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 419,006 * For the upkeep of ground at Douglas Park. COMMON GOOD FUND - LARGS
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Page | 4 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 66,711 66,711 Projected Common Good Balance Brought Forward at 1 April 66,008 INCOME 88 620 Loans Fund Interest (on cash balances) 1,630 88 620 TOTAL INCOME FOR THE YEAR 1,630 EXPENDITURE Others 369 323 Administration - Charge from Finance 335 369 323 SUB TOTAL OF EXPENDITURE 335 (281) 297 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 1,295 1,000 1,000 Available for Disbursement as Grants 1,295 (1,281) (703) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS - 65,430 66,008 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 66,008 COMMON GOOD FUND - MILLPORT Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 17,036 16,040 Projected Common Good Balance Brought Forward at 1 April 15,106 INCOME 22 140 Loans Fund Interest (on cash balances) 350 22 140 TOTAL INCOME FOR THE YEAR 350 EXPENDITURE 90 74 Administration - Charge from Finance 73 90 74 SUB TOTAL OF EXPENDITURE 73 (68) 66 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 277 1,000 1,000 Available for Disbursement as Grants 1,000 (1,068) (934) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (723) 15,968 15,106 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 14,383 COMMON GOOD FUND - SALTCOATS
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Page | 5 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 173,825 173,845 Projected Common Good Balance Brought Forward at 1 April 175,310 INCOME Property Rentals 14,250 14,250 New Street (Health & Social Care) 14,250 Other Income 214 1,640 Loans Fund Interest (on cash balances) 4,380 14,464 15,890 TOTAL INCOME FOR THE YEAR 18,630 EXPENDITURE 897 858 Administration - Charge from Finance 902 897 858 SUB TOTAL OF EXPENDITURE 902 13,567 15,032 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 17,728 13,567 13,567 Available for Disbursement as Grants 17,728 - 1,465 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS - 173,825 175,310 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 175,310 COMMON GOOD FUND - STEVENSTON
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Page | 6 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 2,019 2,019 Projected Trust Balance Brought Forward at 1 April 1,878 INCOME 3 19 Loans Fund Interest (on cash balances) 47 3 19 TOTAL INCOME FOR THE YEAR 47 EXPENDITURE 162 160 Administration - Charge to Finance 160 162 160 SUB TOTAL OF EXPENDITURE FOR THE YEAR 160 (159) 141- SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (113) 1,860 - Available for Disbursement as Grants 1,765 (2,019) (141) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (1,878) - 1,878 TRUST BALANCE CARRIED FORWARD AT 31 MARCH - NAC (DALRY) CHARITABLE TRUST Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 3,115 3,114 Projected Trust Balance Brought Forward at 1 April 2,978 INCOME 4 29 Loans Fund Interest (on cash balances) 75 4 29 TOTAL INCOME FOR THE YEAR 75 EXPENDITURE 169 165 Administration - Charge from Finance 165 169 165 SUB TOTAL OF EXPENDITURE FOR THE YEAR 165 (165) (136) FINAL SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (90) 2,950 - Available for Disbursement as Grants 2,888 (3,115) (136) FINAL SURPLUS/(DEFICIT) FOR THE YEAR (2,978) - 2,978 TRUST BALANCE CARRIED FORWARD AT 31 MARCH - NAC (KILBIRNIE & GLENGARNOCK) CHARITABLE TRUST
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Page | 7 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 37,328 37,328 Projected Trust Balance Brought Forward at 1 April 36,045 INCOME 50 353 Loans Fund Interest (on cash balances) 934 50 353 TOTAL INCOME FOR THE YEAR 934 EXPENDITURE 361 334 Administration - Charge from Finance 342 361 334 SUB TOTAL OF EXPENDITURE FOR THE YEAR 342 (311) 19 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 592 37,017 1,302 Available for Disbursement as Grants 36,637 (37,328) (1,283) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (36,045) - 36,045 TRUST BALANCE CARRIED FORWARD AT 31 MARCH - NAC (KILWINNING) CHARITABLE TRUST Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 6,433 3,436 Projected Trust Balance Brought Forward at 1 April 3,301 INCOME 5 32 Loans Fund Interest (on cash balances) 83 5 32 TOTAL INCOME FOR THE YEAR 83 EXPENDITURE 170 167 Administration - Charge from Finance 167 170 167 SUB TOTAL OF EXPENDITURE FOR THE YEAR 167 (165) (135) SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (84) 6,268 - Available for Disbursement as Grants 3,217 (6,433) (135) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (3,301) - 3,301 TRUST BALANCE CARRIED FORWARD AT 31 MARCH - NAC (LARGS) CHARITABLE TRUST
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Page | 8 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 52,055 52,163 Projected Trust Balance Brought Forward at 1 April 55,144 INCOME 870 960 Share dividends 870 54 412 Loans Fund Interest (on cash balances) 1,093 2,660 2,660 Rent 2,660 3,584 4,032 TOTAL INCOME FOR THE YEAR 4,623 EXPENDITURE 169 169 Insurance 169 120 90 Broker Fees 120 500 500 Property Maintenance 500 298 292 Administration - Charge from Finance 302 1,087 1,051 SUB TOTAL OF EXPENDITURE FOR THE YEAR 1,091 2,497 2,981 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 3,532 2,497 - Available for Disbursement as Grants 3,532 - 2,981 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS - 52,055 55,144 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 55,144 SPIER'S TRUST Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 187,941 192,745 Projected Trust Balance Brought Forward at 1 April 197,297 INCOME 6,000 10,085 Share dividends 10,130 65 541 Loans Fund Interest (on cash balances) 1,093 6,065 10,626 TOTAL INCOME FOR THE YEAR 11,223 EXPENDITURE 422 431 Administration - Charge from Finance 302 422 431 SUB TOTAL OF EXPENDITURE FOR THE YEAR 302 5,643 10,195 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 10,921 5,643 5,643 Available for Disbursement as Grants 10,921 - 4,552 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS - 187,941 197,297 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 197,297 MARGARET ARCHIBALD BEQUEST
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Page | 9 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 439 439 Projected Trust Balance Brought Forward at 1 April 291 INCOME 1 4 Loans Fund Interest (on cash balances) 7 1 4 TOTAL INCOME FOR THE YEAR 7 EXPENDITURE 153 152 Administration - Charge from Finance 152 153 152 SUB TOTAL OF EXPENDITURE FOR THE YEAR 152 (152) (148) SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (145) 287 - Available for Disbursement as Grants 146 (439) (148) FINAL SURPLUS/(DEFICIT) FOR THE YEAR (291) - 291 TRUST BALANCE CARRIED FORWARD AT 31 MARCH - DOUGLAS SELLERS TRUST Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 159 158 Projected Trust Balance Brought Forward at 1 April 8 INCOME - 1 Loans Fund Interest (on cash balances) - - 1 TOTAL INCOME FOR THE YEAR - EXPENDITURE 152 151 Administration - Charge from Finance - - 151 SUB TOTAL OF EXPENDITURE FOR THE YEAR - - (150) SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS - 159 - Available for Disbursement as Grants 8 (159) (150) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (8) - 8 TRUST BALANCE CARRIED FORWARD AT 31 MARCH - ANDERSON PARK TRUST
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Page | 10 Budget 2022/23 Projected Outturn 2022/23 Proposed Budget 2023/24 £ £ £ 42,853 41,571 Projected Trust Balance Brought Forward at 1 April 42,363 INCOME 1,720 1,871 Dividends 1,885 59 400 Loans Fund Interest (on cash balances) 1,027 1,779 2,271 TOTAL INCOME FOR THE YEAR 2,912 EXPENDITURE 321 272 Administration - Charge from Finance 284 321 272 SUB TOTAL OF EXPENDITURE FOR THE YEAR 284 1,458 1,999 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 2,628 1,458 1,207 Available for Disbursement as Grants 2,628 - 792 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS - 42,853 42,363 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 42,363 NORTH AYRSHIRE COUNCIL CHARITABLE TRUST (excluding SPIERS TRUST)
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Appendix 2 Page | 11