Finance - Trust Annual Report 1980
The Trust is extremely fortunate in receiving the generous legacies referred to in the accounts. It is only recently that the full details have been confirmed enabling us to consider how best to use the funds involved. Although it is an immense sum of money compared with our previous circumstances, it is not on a sufficient scale to embark on any major project unless we find something of such over-ruling importance that it justifies the loss of endowment. Nor is the sum large enough to be regarded as a substitute or subsidy for membership subscriptions — this way ruin lies! It is our provisional intention, therefore, to invest the capital and use the interest to increase the effectiveness of our activities in accordance with a carefully prepared annual budget. We may also consider using the capital as security for short term loans where these would serve to prime the pump for desirable projects and when we may be confident that grant aid or other contributions will pay off the loan. The prospect of starting a revolving fund in emulation of the Hampshire Buildings Preservation Trust (see later article) is tempting, but building works usually involve far greater sums, and it may be possible to fund such a scheme by other means if we can find a restoration project with sufficient guarantee of financial return.