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Enhancement Fund

INITIAL PREMISES

  • There is a healthy surplus of funds.
  • There are no assets which require future funding.
  • The surplus should be used to benefit the members.
  • Groups should continue to be self-funding, to manage their finances effectively without incurring losses or accumulating large surpluses.

THE ENHANCEMENT FUND

  • Groups are invited to apply for a grant to enhance their activities.
  • The funds granted can be used in many ways according to the group’s activities. Examples could be the purchase of equipment or the fees of a speaker.
  • It is unlikely that all groups would need to apply for a grant.
  • It is envisaged that this fund should be continued for as long as there are sufficient funds available.

APPLICATIONS 

  • The application should be made by the group leader to the treasurer.
  • The application should be as precise as practicable.
  • For amounts up to £100 the treasurer in consultation with the treasurers’ team can normally expediate the grant. (This limit may be amended by the sub-committee.) For larger amounts and any other concerns, the application should be referred to the enhancement grants sub-committee.

ENHANCEMENT GRANTS SUB-COMMITTEE

TERMS OF REFERENCE

  • The sub-committee shall comprise of, the chairman, the vice-chairman, the treasurer and one other trustee.
  • The treasurer shall email the referred application to members of the sub-committee for consideration.
  • Members of the sub-committee shall decide whether to grant the application as soon as possible and email their response to the treasurer.
  • If responses are not received within seven days, the treasurer shall telephone members of the sub-committee for an answer.
  • The chairman shall email the applicant with the sub-committees decision.
  • If a decision cannot be made the application shall be referred to the full committee at its next meeting
  • The sub-committee shall abide by the ethos of the u3a movement and endeavour to be fair to all.

At the committee meeting on 26 September 2024, it was agreed that Shirley Gray be the fourth member of the sub-committee.

Updated on 29-09-2024