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Horspath Stone Pit Trust
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Constitution
REGISTERED CHARITY NO. 281187

TRUSTEES

1. The trustees of the charity shall be the elected councillors of the Horspath Parish Council together with up to 5 independent trustees at any given time with the Chairman of the Parish Council acting as Chairman of the Trustees.

2. The quorum for any meeting shall be set at four trustees.

THE CHARITABLE BENEFICIARIES

3. For such charitable purposes for the general benefit of the inhabitants of the area of the ancient parish of Horspath as the trustees think fit - meaning only residents and organisations living or operating entirely within the parish of Horspath, Oxfordshire may benefit from any of the income of the charity.

BENEFITS & GRANTS

4. With two exceptions:
 i) the purchase of freehold property or building works, either to be approved by majority vote in an open Parish meeting, OR
ii) the funding of the annual precept of Horspath Parish Council to a maximum £30,000 (inflation linked to December 2012),
the Trustees may allocate a maximum of only 4.5% of the nett annual income in any one year to any one recipient village organisation, or 0.45% of the nett annual income to any one individual resident of Horspath.

5. Applications from individuals may only be granted for musical, artistic, education & training (but excluding general tuition fees), general environmental, cultural or sporting purposes (excluding general membership and subscription fees) and for care in the community for the elderly and disabled. It may be insisted that any such grants are paid to a relevant third party supplier.

In making grants to individuals, priority will be given to those which will be of benefit to the whole community in Horspath.

6. All grants agreed by the trustees for third parties shall require a clear majority vote. Any casting vote of the Chairman shall always be to refuse an application. Cheques will be raised solely by the Parish Clerk and will require two signatures. All grants shall be minuted by the Parish Clerk quarterly, minutes to be approved one month later and displayed on the public noticeboard adjacent to the minutes of the Parish Council with the ongoing financial statement.

7. Under no circumstances can any benefit be offered to any government or local government structure in an attempt to reduce normal taxation, excepting only the precept set by Horspath Parish Council.

8. The Trustees may allocate and disburse no more than 90% of the annual income from the Horspath Stone Pit in any year, the remaining 10% to accumulate as a reserve capital fund.

APPLICATION PROCESS

9. All applications for grants are to be submitted in writing on the appropriate application form. Proof of residence by way of an electoral role number (or that of the head of the household if the applicant is aged under 18) a recent bank statement or utility bill shall be deemed sufficient proof of residence.

10. Applications for grants shall be considered by the trustees on a quarterly basis commencing in June 2015.

11. The Trustees will be informed at the start of the meeting the total value of village organization applications and the total value of individual applications together with the accumulative balance of funds available.

12. The Trustees must treat applications fairly and must not discriminate against any organisation or individual on any unreasonable grounds, providing sufficient funds are available to meet all the requests at any given time.

13. In the event that there is insufficient funding, the value of the grants awarded will be scaled back in equal proportion.