Issue - meetings

That the projects funded through the Surrey Educational Trust be noted.

Reasons for Decision:

Reporting the activity of the Trust to Cabinet demonstrates a continuing investment in improving outcomes for Surrey’s children and young people. It also ensures greater public accountability and transparency about how the funds are used to support projects of an educational nature. To date the funding allocated to the Trust by the County Council totals £1,213,003.07.

The Cabinet Member for Schools and Learning introduced the first report of the Surrey Educational Trust. She explained that the Trust was established as a Company Limited by Guarantee in 2010, to distribute a proportion of the earnings generated through the joint venture between Surrey County Council and Babcock 4S and that the purpose of the Trust was to provide support to Surrey state funded schools, educational projects and organisations for the benefit of children, young people and learners from Surrey.

She explained that applications must support one of a number of criteria themes including:

·        Leadership development;

·        Extending educational opportunity;

·        Increasing young people’s resilience and personal growth;

·        Modern Foreign Languages;

·        English as an Additional Language; and

·        Promoting Science, Technology, Engineering and Mathematics.

There was a nominal limit of £25,000 on bids and that £360,755 had been allocated to 25 projects to date through three bidding rounds.

Mrs Kemeny also drew attention to paragraph 19 of the report where Trustees were considering investing £600,000 into a building society.

The report highlights 3 case studies where funding had been granted and Members showed their support for them.

RESOLVED:

That the projects funded through the Surrey Educational Trust be noted.

Reasons for Decision:

Reporting the activity of the Trust to Cabinet demonstrates a continuing investment in improving outcomes for Surrey’s children and young people. It also ensures greater public accountability and transparency about how the funds are used to support projects of an educational nature. To date the funding allocated to the Trust by the County Council totals £1,213,003.07.