Finance Trusts

Finance Trusts

The Ely Diocesan Board of Finance (EDBF) acts as custodian trustee for some 300 parish and other trusts.

Assets are held in cash at a bank or on deposit and investments. Investments held in units similar to those held by the EDBF itself and are reviewed by the Assets Committee.

Trusts are usually subject to restrictions detailed by the donor. Parishes who are in any doubt as to the restrictions in place or, who wish to access money should contact the Finance Assistant - Trusts.

Assets held on behalf of trusts are valued at 31 December each year and are audited by the EDBF's external auditor. Statements are sent to parishes as soon as possible after 31 December but we are reliant on the receipt of reports from CCLA or other investment bodies.

A simple valuation can be found by using the CCLA website and examining the values found on the graphs for the relevant assets.

The Charities Act 2011 relaxed the administration and use of trusts. For further information PCC Treasurers should contact the Diocesan Accountant.

When contacting the Finance Department regarding a trust it is always helpful to have the trust reference number to hand.

Page last updated: Friday 9th August 2019 1:54 PM
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