Item 6 - Depletion of Fund
West Dunbartonshire Council · 18 January 2023
Back to Dumbarton Trust Committee — 18 January 2023 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
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WEST DUNBARTONSHIRE COUNCIL Report by Chief Officer - Resources Dumbarton Trust Fund Committee: 18 January 2023 _______________________________________________________________ Subject: Depletion of Fund – Proposed Closure 1. Purpose 1.1 The purpose of this report is to provide information on the remaining balance in the Dumbarton Trust Fund and to recommend closure of the fund with the remaining balance to be distributed to Older People groups in the Dumbarton Area. 2. Recommendations 2.1 Members are asked to: a) Approve the distribution of the remaining £1,124.26 in the Dumbarton Trust Fund to Older People Groups in the Dumbarton Area. b) Consider whether there is a specific group, or groups, that they would wish to benefit from the distribution. b) Approve the closure of the Dumbarton Trust Fund. 3. Background 3.1 The Trust Deed states that the purpose of the Dumbarton Trust Fund is for the benefit of the people of Dumbarton, to assist and relieve those in need by reason of age. 3.2 Dumbarton Trust Fund grants are administered by West Dunbartonshire Council and are reported to the fund as and when applications are received. 3.3 Per the draft Financial Statements, the value of fund as at 31 March 2022 was £4,947.22. A grant application for £3,822.96 is under consideration which if approved would reduce the remaining fund value to £1,124.26. 4. Main Issues ITEM 6
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Proposed closure of Dumbarton trust Fund and redistribution of remaining funds. 4.1 One application for grant funding of £3,822.96 is being considered by the committee on 18 January 2023. Should this be approved the value remaining in the Trust Fund would reduce to £1,124.26. 4.2 As this fund is almost exhausted and applications for funding are extremely rare it is proposed that the remaining funds be distributed to Older People groups in the Dumbarton Area and the fund is closed. 4.3 Members of the Committee are asked to consider if there is a specific group, or groups, that they would wish to benefit from the distribution and, if applicable, the split each should receive. 5. Option Appraisal 5.1 No option appraisal consideration was required for this report. 6. People Implications 6.1 There are no people implications. 7. Financial Implications 7.1 It is recommended that £1,124.26 remaining funds held in the Dumbarton Trust Fund are distributed to Older People Groups in the Dumbarton Area and the fund is closed. 8. Risk Analysis 8.1 The Committee must consider financial and reputational risks when considering grant applications. Members must ensure funds awarded are for the purposes of the Trust Fund. 9. Equalities Impact Assessment (EIA) 9.1 No equalities impact assessment was required in relation to this report. 10. Environmental Sustainability 10.1 No environmental sustainability issues require to be raised in connection with this report. 11. Consultation
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11.1 No consultation is required in relation to this report. _______________ Laurence Slavin Chief Officer, Resources Date: 10 January 2023 Person to Contact: Adrian Gray, Business Unit Finance Partner, Corporate Functions Telephone: (01389) 737838 E-mail: adrian.gray@west-dunbarton.gov.uk Appendices: None Background Papers: N/A Wards Affected: Ward 4