In accordance with good governance the Trustees also consider it appropriate to rotate the role of Chairmanship. The role commences at the start of each financial year having been voted upon by the Trustees at one of their quarterly meetings. The appointment is for an initial term of one year, although this can be extended if it is the wish of the Trustees.


Potential Trustees will receive background information on the Savoy Educational Trust which will include the Trust Deed, Minutes of Meetings, Annual Report and Accounts and documentation on what is expected of them under charity law, with particular reference to charity commission guidance publications such as CC3 ‘Responsibilities of Charity Trustees’, ‘The Essential Trustee: What You Need to Know’ and ‘Charities and Public Benefit’. Following their appointment new Trustees will be invited to spend some time in the Trust office as part of their induction process to further develop their understanding of the Savoy Educational Trust policies and practices.


All Trustees are asked to complete the register of interests which is held and regularly updated in order to avoid any potential conflicts of interest that may arise. Where a conflict does arise then the Trustee concerned is asked to withdraw from the decision making process.


INVESTMENT C MMITT O EE


In order to minimise administrative costs and benefit from economies of scale the Trust collaborates with the D’Oyly Carte Charitable Trust on matters of Fund Management. A joint Investment Committee comprising of representatives from both Trusts meets quarterly with the Fund Managers to review and monitor investment performance and asset allocation.


PUBLIC BENEFIT STATEM ENT


The Trustees acknowledge that education is the most powerful tool there is in achieving social justice. Talent, wherever it exists should be sought out, supported and nurtured. They can confirm that they have complied with the duty in section 4 of the Charities Act 2006 to


have due regard to the Charity Commission’s general guidance and


supplementary guidance on public benefit in determining the activities undertaken by the Trust for the advancement of education.


The Trustees wholeheartedly believe that they can demonstrate that their grant giving activities outlined in the objectives and activities and the activities, achievements and pe


rformance sections of this report are carried out for the public benefit and clearly meet the two key principles of public benefit.


RISK ASSESSMENT The Trustees have addressed the area of risk assessment in order to identify the major risks, possible risks and remote risks to which the Savoy Educational Trust is exposed and have reviewed the systems in place to manage those risks.


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