Agenda item - Establishment of Brighton and Hove Community Fund

Report of the Executive Director for Neighbourhoods, Communities & Housing (copy attached) together with an extract from the proceedings of the Neighbourhoods, Communities & Equalities Committee meeting held on 13 March 2017 (to follow).

RESOLVED:

1)     That the Committee approve the closure of the trusts and the transfer of the endowments listed in appendix 1 to Sussex Community Foundation for the purpose of establishing the Brighton and Hove Community Fund as outlined in this report.

2)     That the Committee delegate authority to the Executive Director of Neighbourhoods, Communities and Housing to take all steps necessary to action and complete the transfer.

144.1      The Committee considered a report of the Executive Director for Neighbourhoods, Communities & Housing in relation to Establishment of Brighton & Hove Community Fund; the Chair also noted that the report had been considered by the Neighbourhoods, Communities & Equalities Committee meeting on 13 March 2017 as set out in the associated extract of that meeting. Through discussions with the community and voluntary sector, the Members Advisory Group, CCG colleagues, Officers and the Charity Commission, the Communities, Equality and Third Sector (CETS) Team had developed and started to deliver a new Third Sector Investment Programme consisting of the following elements: three year (2017-2020) Communities and Third Sector Commissioning Prospectus, and complemented by an annual BHCC Communities Fund. Alongside these service redesigns the team had been exploring the benefits and risks of transferring some or all of the Council held dormant and under-utilised endowment funds to Sussex Community Foundation to form a Brighton & Hove Community Fund. This would establish a strategic partnership with a key local charity with the principal aim of using the transferred funds to generate and attract additional funding to the city, to enable community and voluntary endeavour that meets the needs of the city. The report explained the purpose of the fund, the benefits and the mechanics of establishing and delivering it.

144.2      In response to Councillor Sykes it was explained that the investment return that the community fund expected to achieve was higher than the Council could achieve – though they had a similar low risk portfolio. Some modelling had been undertaken which suggested it would achieve well over the next three years.

144.3      The Chair noted that this proposal had been endorsed by the Member Advisory Group, and welcomed the report.

144.4      In response to Councillor Mac Cafferty it was explained that close work with the Sussex Community Foundation would be undertaken; quarterly meetings would strategically assess the signposting and promotion of the fund, and much of this would be undertaken by the existing infrastructure of the Sussex Community Foundation.

144.5      In response to Councillor G. Theobald it was explained that the funds would be ring-fenced for Brighton & Hove residents; it was also explained there were sufficient checks and balances in place to manage the fund and transfer it to a different body in the unlikely event it did not perform.

144.6      Councillor A. Norman welcomed the report and hoped some of the funds be used for science projects that needed funds and scholarship.

144.7      The Chair then put the recommendations to the vote.

144.8      RESOLVED:

1)     That the Committee approve the closure of the trusts and the transfer of the endowments listed in appendix 1 to Sussex Community Foundation for the purpose of establishing the Brighton and Hove Community Fund as outlined in this report.

2)     That the Committee delegate authority to the Executive Director of Neighbourhoods, Communities and Housing to take all steps necessary to action and complete the transfer.