Income
Expenditure
Surplus/(Deficit)
96,916
138,608
(41,692)
Community Facilities
433,496
1,056,460
(622,964)
Libraries
279,376
1,555,203
(1,275,827)
2,190,663
3,797,164
(1,606,501)
Arts & Culture
Sports & Leisure
Other Grants
150,302
150,302
Management Fee
3,571,255
3,571,255
Total
6,571,706
6,547,435
24,271
Reserves policy
During 2015/16 the Trust agreed to build reserves over the first three years to a level of £250,000
to enable the Trust to manage financial risk and help deliver the Trusts commitments. It was recognised that this was our initial target and would therefore be regularly monitored and reviewed
annually by the Finance Audit and Risk committee.
Investment policy
East Renfrewshire Council manage investments on behalf of the Trust, following their own organisational investment policy, primarily aimed at mitigating risk associated with safeguarding funds,
ensuring liquidity of these funds and finally investment returns. As a result the policy aims to invest
cash and cash-like investments up to a maximum level on acceptable counterparties. Activity is
monitored regularly and the policy is reviewed annually.
Due to the limited current level of surplus funds any funds held by the trust are invested in an interest bearing account held with our bankers, the Clydesdale Bank.
Fixed assets
The trust has a maintenance lease agreement with East Renfrewshire Council for the use of the
buildings and equipment linked with the charitable activities and as such these assets do not belong to the Trust.