Diocesan Trust

The Monmouth Diocesan Trust (MDT) supports the religious education of children in the Church in Wales schools in the Diocese. It is responsible for managing the assets (buildings and land) that have been assigned to the trustees.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Monmouth Diocesan Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 19th June 1922. It is registered as a charity with the Charity Commission for England & Wales.

DIRECTORS AND TRUSTEES

At its Annual General meeting  the MDT appoints an Executive committee of ex-officio and elected members to be the Directors of the Company and Trustee board of the charity.  As such they are bound by both charity and company law.

The AGM is held in July and the Executive Committee meets 4 times per year.

The Executive Committee for 2015/16 comprises:

Ex-Officio

The Bishop

The Archdeacon of Newport

The Archdeacon of Monmouth

The Dean of Monmouth

The Director of Education

The Registrar

Area Deans

3 members are nominated from the Area Deans of Abergavenny, Bassaleg,

Bedwellty, Pontypool, Monmouth, Netherwent, Newport, Raglan & Usk for election at the AGM.

In 2015 the Area Deans of Pontypool, Newport and Raglan & Usk were elected.

Schools

2 members are nominated by the Director of Education and/or the Headteachers of the Diocesan Church Schools for election at the AGM.

In 2015 Mrs Angela Davies and Mr Mark Durbin were elected.

Lay members

Up to 5 Lay members, who must be in communion with the Church in Wales, are nominated by members of the Diocesan Trust.

In 2015 Mr C S Cotterill and Mr M Killick were elected.

The members of the Committee of Management are elected for one year from the date of the AGM.

Director of Education (Dr Annette Daly)

The Diocesan Trust is responsible for the employment of a Director of Education (DDE) who reports to the Bishop and manages the interface with the Church in Wales Schools in the Diocese.

The DDE is also responsible for integrating the schools into the local Ministry Areas and is supported by Children, Youth and Family Ministry Advisors.

Secretary and Executive Officer (Dr Paul Glover)

The Secretary and Executive Officer is employed by the trustees to manage the day to day operations of the charity. The Secretary has delegated authority, approved by the trustees, for operational matters,finance and the overall operation of the charity within the approved budget.

INVESTMENT POWERS, POLICY AND OVERSIGHT

The investment strategy is determined by the Investment Advisory Group. It comprises the DBF Chair, Vice Chair, Diocesan Secretary, Diocesan Accountant, together with additional members of the DBF and MDT.

Under the governing document of the MDT, the charity has the power to invest in any way, subject to Trustee legislation.

The portfolio of investments is managed by an appointed Investment Manager (currently Brewin Dolphin) who meet twice each year with the Investment Advisory Group.

The Investment Manager is required to ensure that the prescribed ethical policy (as specified by the Representative Body of the Church in Wales) is followed at all times.

RESERVES POLICY

The trustees review the charity’s Reserves policy annually. The policy aims to maintain the equivalent of 6 months of the charity’s running costs in readily available funds.