Trusts, Trustees and Charities
Staffordshire County Council held its Endowment Charities Meeting to discuss the Annual Accounts for 2024/2025 last week. Staffordshire County Council acts as a custodian trustee for 13 educational endowment charities. Part of its responsibilities is to oversee both the administrative and investment aspects of these charities. One of the key duties includes approving the annual accounts before they are submitted to the Charities Commission. The allocation of income is delegated to the managing trustees of the respective schools, with County Council Officers ensuring that expenditure is in accordance with the Trustees’ intentions. In scrutinising the accounts it was noted that three of the charities generated an annual income exceeding £25,000. Income via interest from the funds invested were noted, and that paid from the COIF Investment Fund amounted to approximately £53,000 annually. However, expenditure, the Report ...