STRATFORD-UPON-AVON TOWN TRUST ANNUAL GENERAL MEETING Wednesday 28 JUNE 2017 Present: The Chairman (Alan Haigh) in the Chair Charles Bates Tessa Bates Richard Lane Eden Lee Clarissa Roberts Clive Snowdon Carole Taylor Quentin Willson In attendance: Justin Williams (Chief Executive) Rachael Cressey, Saffery Champness (Auditors) 62 members of Stratford Town Trust Apologies: Tony Jackson, Julia Lucas and several Trust members 1 Welcome and Opening Remarks by Chairman The Chairman welcomed everyone to the sixteenth Annual General Meeting of the Trust. He introduced Justin Williams, Chief Executive, who had commenced in post in August 2016. 2 Presentation by Chief Executive Justin Williams, Chief Executive, gave a presentation focusing on Community Hub Rowley Fields Tenders Finance Report Grant Report 3 The Ordinary Business of the Meeting The Chairman then moved on to the ordinary business of the meeting. Report & Financial Statements to 31 December 2016 It was unanimously: RESOLVED: That the Report of the Trustees and Financial Statements for the year to 31 December 2016 together with the report of the auditors be received. Appointment of Auditors it was unanimously: RESOLVED: That Saffery Champness be re-appointed as auditors to Stratfordupon-Avon Town Trust for the financial year to 31 December 2017, and the Trustees be authorised to fix their remuneration.
4 Questions (see Appendices A & B ) The Chairman informed members that written questions received in advance of the meeting had been summarised with the answers and had been placed on the chairs (Appendix A ). He then opened up the meeting for questions from the floor. See Appendix B for a summary. 5 Closing Remarks The Chairman reminded the members that elections would be held during 2018 for the five elected Trustee vacancies. The process would commence in early 2018 and full details would be circulated to the membership at that time. Quentin Willson updated the membership on the latest works to be carried out at the Guild Chapel as part of the HLF project Death Reawakened. He acknowledged the contribution made by the Friends of the Guild Chapel in funding the installation of glass entrance doors and other electrical works. During the conservation works wall paintings of the Life of Adam had been revealed behind the wood panelling and a fundraising appeal had been launched Pounds for Panels where members of the public and visitors were being asked to donate their old pound coins which were going out of circulation later in 2018. The target was to raise between 3,000 and 5,000 which would help to fund further conservation/renovation works to these recently rediscovered paintings. 6 There being no other business the Chairman thanked the members for their attendance. He invited members to personally meet Trustees in the foyer afterwards. The meeting closed at 8.05pm.
APPENDIX A' TOWN TRUST AGM 28 JUNE 2017 QUESTIONS AND ANSWERS (Submitted in writing prior to meeting) Q1: I note that on page 12 of the annual Report ( Investment Criteria ), it says that the trustees continue to conclude that they do not believe there is any listed investment adverse to the purpose of the charity. However, given that the Objects of the Trust would imply that achieving as large a return as possible would be to the benefit of the beneficiaries, this does not reassure me that investments are necessary ethical. Surely it would be more in tune with the Charitable Status of the Trust if all investments were in SRI s (Socially Responsible Investments), even if that resulted in a lower income. Have the Trustees considered this and, if not, will they consider it? (Simon Cook, membership number 1500) A1: The Trust reviews its investment policy, including ethics, on an annual basis. The Trust only invests via funds and these funds all have ethical standards. The fund managers which the Trust invests with also operate a policy of active engagement with the companies they invest in and vote on company resolutions. Q2: Despite the controversy and related legal costs, do the Board of Trustees agree that 7 Benson Road has eventually proven to be a worthwhile investment? (Kevan Russell, membership number 2317) A2: 7 Benson Road returned 9% on an annualised basis which compares well with the Town Trust s stated investment policy. Q3: At the formation of Stratford-upon-Avon Borough Council the members of the SBC were able to have a say in how the revenue of the Guild and College Estates was spent. Today it is only the membership of the Town Trust who has a say. Would there be any advantage in changing the constitution to allow the whole town to have a say? (Joan McFarlane, membership number 2660) A3: The recent community strategy development process was open to the entire community, additionally membership is already open to all residents aged 18 or over that reside within Stratford-upon-Avon. The opportunity for all to be involved within the Trust is already there.
TOWN TRUST AGM 28 JUNE 2017 QUESTIONS FROM THE FLOOR APPENDIX B Q1: Mr Steve Parker had attended one of the recent focus groups and said he found it very useful and interesting. He then enquired about the future strategy of the Trust and asked whether it would be a top down strategy and contain information about investments in funds. A1: The CEO responded by saying that the Strategy would be based on four key words support, sustain, enable and rebuild, and an example of the Trust s new direction was Foundation House which would hopefully achieve all these things. Once finalised and approved by the Trustees the key points of the core strategy would appear on the Trust s website. Q2: Mr Peter Holton enquired about the uncultivated plots at the Redlands allotments, which give the whole site an untidy and overgrown appearance. Was there a waiting list and if so why were there vacant plots? A2: The CEO responded by saying that there was a waiting list and the Trust endeavoured to let plots as they became vacant. He also said that plots sometimes remained uncultivated for long periods but if rent was paid there was only so much the Trust could do. Sometimes there were extenuating circumstances which prevented people from cultivating their plot. However, there is a clause contained in the allotment agreement which enables the Trust to give notice to quit to the allotment holder should it remain uncultivated without good reason for a certain length of time. Q3: Mrs Sandra McDonald said she was a volunteer at the Guild Chapel and wished to publicly thank Pippa Brook for all her excellent work at the Chapel since she had become Volunteer Co-ordinator in March. She asked what kind of relationship the Town Trust had with King Edward VI Grammar School and Friends of the Guild Chapel. A3: The CEO stated that the Trust enjoyed an excellent relationship with both bodies he frequently liaised with the Headmaster of KES and recognised the excellent works carried out by the Friends of the Guild Chapel. Q4: Prof Lindsay McDonald enquired about the Trust s relationship with the Town Council, District Council and Stratford Society, specifically regarding the Trust s strategic development. A4: Again, the CEO said that the Town Trust enjoyed an excellent working relationship with all three organisations, but there was a limit to which the Town Trust could become involved in local authority functions, e.g., transport/planning/housing etc. He referred back to the Trust s Mission Statement which was To provide financial or other support for activities which enhance the quality of life of the people of Stratfordupon-Avon. Q5: Mr Kevan Russell enquired about the type of groups which would be allowed to use Foundation House. A5: The CEO said they would have to be community groups, charitable organisations, not for profit and the like.
Q6: Mr Russell also asked about the Neighbourhood Plan designation of Warwick Road Lands and whether the Town Trust had made a submission on this area as well as Rowley Fields. A6: The CEO stated the Town Trust s support for the NP, but confirmed that the Trust had only made a formal submission regarding Rowley Fields as it had previously undertaken with the membership to do in December 2016. Q7: Mr Sam Gee enquired how increases in residential rents were agreed. A7: The CEO said that increases were tiered so that they were manageable, but the Trust was not a housing authority and was obliged to charge the full market rate for all properties. He offered to speak to Mr Gee personally if he was concerned about a specific individual. Q8: Joan McFarlane enquired whether the Trust intended to move its offices to Foundation House once it was up and running. A8: The CEO said that there were currently no plans to move the Town Trust office. Its central location in town was most convenient for callers, and if the Trust moved into Foundation House this would affect the business rates charged on the premises. Q9: Mr John Duckett enquired whether the Trust had any plans to sell off any other Trust properties? A9: The CEO said that the Trust would follow its stated investment policy to maximise the income of the Trust and consider any opportunities that might arise in the future. Q10: Rachel Key, as Manager of the Samaritans Hub at Tyler House, said that the announcement regarding Foundation House was very exciting and she was keen to see how it would develop. She then paid tribute to Claire Bowry who had recently announced that she would be leaving the Town Trust. Rachel said that Claire had made a huge difference to the Stratford-upon-Avon community and would be greatly missed.