The King George's Field Charity Board met to approve the end-of-year accounts and annual report for the financial year ending March 31, 2022, which showed a deficit. The board also reviewed and approved proposed fee increases for the Arts and Ecology Pavilions and discussed changes to the subsidised hire policy for community groups.

Approval of End of Year Accounts and Annual Report

The Board approved the audited accounts for the year ending March 31, 2022, and the corresponding annual report for submission to the Charity Commission. The accounts revealed a deficit of £19,373, attributed to the ongoing impact of the pandemic, efforts to rebuild income generation through hires and volunteering, and increased operational costs. Despite the deficit, the Charity's net assets remain substantial at £15.9 million, largely comprising endowment funds for land and buildings such as Myeland Park and Stepney Green Park, as well as investment assets like the Greenbridge shop. The revenue reserve saw a reduction from £77,000 to £57,000.

During the discussion, Councillor Maium Talukdar, Deputy Mayor and Cabinet Member for Education, Youth and Lifelong Learning, inquired about the status of rental payments, confirming that all tenants at Greenbridge are up to date, with only a couple of outstanding final quarter payments expected. Regarding the deficit, Catherine Boyd, who presented the report, explained that the Charity is forecasting a surplus of £36,000 for the year ending March 2023, driven by an increase in bookings and a recovery in activities. This forecast is based on known income figures and predictions, with allowances made for potential increases in utility costs.

The Board also approved the letter of representation from the auditors, Arnold Hill & Co. LLP, and noted the requirement for a sign-off on the letter of ownership confirmation. Arnold Hill & Co. LLP were formally appointed as the council's auditors for 2022-23. A proviso was added to the letter of representation to provide reassurance to board members who were not involved in the expenditure and income that occurred during the period covered by the accounts.

Fees and Charges Review

The Board reviewed and approved a proposed 10% increase in hire fees for the Arts and Ecology Pavilions. This is the first increase in these charges since 2013, with previous reviews being halted by the pandemic. The review was conducted in line with the Council's own recent review of fees and charges, taking into account significant inflation increases. Benchmarking against other venues in different boroughs indicated that even with the proposed increase, the Charity's rates would remain competitive and attractive. The new charges will apply to various categories, including private hires (weddings, events, corporate bookings), exhibition rates, and subsidised exhibition rates for community engagement.

Subsidised Hire Policy for Community Groups

Changes to the subsidised hire policy for community groups were discussed and agreed upon. The policy, established in 2018, aims to balance the need for income generation with supporting charitable objectives. The key changes include reducing the maximum discount from 100% to 80%, with an average subsidy of around 50%. Additional charges for staffing outside of standard hours will apply. The number of subsidised bookings available per year will remain at 20.

The Board also agreed to retain six free days of usage per year for the Friends of Myerland Park, a group whose membership is open to anyone. Discussions highlighted the need to ensure transparency and clarity in the application process for subsidised hires, with a focus on demonstrating community benefit. The Board acknowledged the feedback regarding the underutilisation of the pavilions, with occupancy levels around 52%, and agreed to explore strategies with the Mayor's Office communications team and other council officers to maximise venue take-up and generate income. The potential to reduce the number of free days for the Friends of Myerland Park was also raised as a way to potentially increase income, with a commitment to revisit this.

Ratification of AstroTurf Fees and Charges

The Board ratified the fees and charges for the AstroTurf, which had previously been approved by the Cabinet on January 4, 2023. These increases are now in effect for new bookings.

Public Benefit Guidance

The Board noted the Charity Commission's guidance on public benefit.

Leases Report

The Board noted that the Leases Report was an exempt item and therefore not discussed in public.