The Charity Commission initially authorised the Trust to spend £306K on legal costs and fees for the Parliamentary Process. Unfortunately, partly because of the number of petitions that were submitted, the Trust has had to ask for the budget to be increased. The approved budget is currently £503,472. The Trust has taken out a loan repayable over 25 years to spread some of the cost.
There are other associated costs, for example staff time spent supporting the process, keeping the public informed, and the costs of running the public consultation.
The benefits of updating the Trust’s governance, particularly financial benefits, may not be obvious straight away. However, the changes should help the charity use its resources more effectively.
The Bill should also help avoid problems that could arise when two unitary authorities are created in Worcestershire in 2028. The problems this will pose to the interpretation of the current Acts could be very expensive or even impossible to solve. The Bill will also help the Trust find more ways to raise money, making the charity more financially stable and reducing reliance on levy payers.
