Agenda item - Establishing a Savings Fund for Careleavers

Report of the Executive Director for Children’s Services (copy attached).

RESOLVED –

1)    The Committee noted the report and decisions of the Corporate Parenting Board.

9.1       Helen Gulvin, Assistant Director of Children's Safeguarding & Care, introduced the report and explained that Councillor Bewick had asked Officers to look at establishing a savings arrangement for individual young people whereby funding would be available for young people when they become Care Leavers to enable them to choose how to spend their money.

9.2       It was explained that a report had initially been presented to the Corporate Parenting Board. The Board had agreed to set up a trust fund and establish trustees and have fund raising events. It was explained that the Board had also discussed encouraging Councillors, council workers and local businesses to donate into the fund.

9.3       The Chair added that it was important to set money aside for children for when they were older. Establishing a savings fund for careleavers and donating to it would be taking the corporate parenting role to the next level.

9.4       In response to Councillor Mac Cafferty, the Assistant Director of Children's Safeguarding & Care explained that it would be an opportunity to support more young people between 21-25 years old.

9.5       In response to Councillor Brown, it was clarified that to the aim was to launch the trust in October 2016; however, the finance would not be in place by this date.

9.6       The Chair clarified in response to Councillor Miller that the trust was being made a separate charity because the money would not be coming from tax payers. The Assistant Director of Children's Safeguarding & Care explained that a strict guidance would be in place and there would be training for young people regarding spending money to protect vulnerable children.

9.7       It was explained to Martin Jones that the decision in relation to the dispersal of the trust fund to ensure it was being spent correctly was yet to be made.

9.8       Councillor Penn noted that it would be beneficial to give financial advice and training to looked after children with mental health issues, particularly advising what support services are available and training on how to look after finances.

9.9       RESOLVED – That the Committee agreed to note the report and decisions of the Corporate Parenting Board.