Issue - meetings

Report of the Chief Financial Officer to agree to a revised tariff of custody fees in order to achieve ongoing annual savings and to consider the introduction of a securities lending programme in order to mitigate the overall costs associated with the provision of custodial services.

Cllr Wilson declared a prejudicial interest and withdrew from the meeting for this item. Cllr Winskill also left the meeting.

The Chief Financial Officer introduced the report on the custody fee review, and David Crum of Hewitt explained the content of the report in further detail and responded to questions from Trustees.

RESOLVED

i) That a revised custody tariff be agreed in order to achieve ongoing annual savings of approximately £25,000.

ii) That a further report on the issue of securities lending be presented to the next meeting of the Committee.