## ## ||Type ofgoverning
document|Type ofgoverning
document|Constitution|| |---|---|---|---|---| ||How the charity is constituted||The Society is an unincorporated
association
established
as a trust for
foundation
ofa charity
by deed dated 30'" May 1974.|the| ||||Chard 8 District Museum
became a CIO on the 29'" July 2020. The old|| ||||unincorporated
charity has been placed on the Charities
Merger List. As|| ||||such the old charit
270186has been wound
u .|| ||Trustee selection methods||The Museum
Committee
is the governing
body responsible
for the day
day running
ofthe Museum,
the members
ofwhich are the Trustees.
It|to
will| ||||consist of not more than ten members
elected at the annual
general
meetin
see rule 9c.The Committee
ma
fill an
vacanc
b co-o tion.|| |Additional
governance
issues|||(Optional
information)|| |You may choose to include||||| |additional
information,
where||||| |relevant,
about:||||| ||policies and procedures||Are in accordance
with Charity Commission
requirements.|| ||adopted for the induction|and||| ||training
oftrustees;|||| |~|the charity's
organisational
structure
and any wider
network
with which the charity
works;||Up to ten trustees some with specific designated
roles and responsibilities.
Guidance 8 advice from SW Heritage
MDO. The trust follows guidance
from both Arts Council
UK 8 Association
of independent
Museums
(AIM)|| |~
~|relationship
with any related
parties;
trustees'
consideration
of
major risks and the system||Chard Town Council
SW Heritage Trust
Association
of Independent
Museums
(AIM)
Arts Council accreditation
on 5 yearly basis|| ||and procedures
to manage
them.||Risk assessment
policy exists reviewed
annually
Charity became a CIO in 2020 to reduce the financial
risk to trustees.|| ||||0 ~|| ||||The objects ofthe Society shall be:|| ||||(a) the advancement
of education,
learning
and knowledge|by| ||||the provision
and maintenance
ofa Public Museum
in|| ||||Godworthy
House
in the town ofChard or such other|| |Summary
ofthe objects ofthe
charity set out in its
governing
document|||building
or buildings
as may from time to time be acquired
by the Society
(b) The exhibition
in such building
ofartefacts,
pictures,
maps,
letters, documents
and other items of historical,|| ||||geographical
or geological
interest
relating to the history,|| ||||geography
and geology ofChard and its surrounding|| ||||district.|| ## ## ||~|~|||||~
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Due to the continuation
of the||pandemic||which|||limited||opening||| ||||||||times both visitor 8 volunteer|were||reduced||from||pre-Covid|||levels.|| ||||||||As a result,
operational
income||levels remained|||||reduced||with the||| ||||||||museum
requiring
Central|Government|||Hospitality||||Grants|||to| ||||||||remain
buoyant
8 avoid reduction|||of museum|||reserves.|||||| |Brief statement
charity's
policy||||ofthe
on reserves|||The museum
has a restricted
fund 8 a designated
contingency
fund: The
restricted
fund created from a bequest
by Miss Irene White. Terms of her
will specifies the use to which the fund may be put to.|||||||||||| ||||||||Prior to the
imminent
purchase
of|the||museum||trustees|||have||voted|| ||||||||f25,000to be withdrawn
from the museum|||reserves.|||The reserves||||policy|| ||||||||has been updated as follows|||||||||||| ||||||||Strategic reserve
—f15,000|||||||||||| ||||||||Project reserve - f15,000|||||||||||| ||||||||Operational
reserve - f15000|||||||||||| ||||||||Drawdown
will commence
in early 2022||prior to purchase.|||||||||| ||||||||A successful
revaluation
request for the||period up to 2017has||||||been|||| ||||||||made to Valuation
Office Agency via|our|appointed|||agent, Lambert|||||Smith|| ||||||||Hampton.
The result ofthis challenge|has||seen the||rateable value||||ofthe||| ||||||||museum
reduce from 223,000tof3500.|||||||||||| |Details ofany funds
in deficit|||||materially||There are none|||||||||||| |Further financial||||review||details|(Optional
information)|||||||||||| |You may||choose to|||include|||||||||||||| |additional||information,|||where|||||||||||||| |relevant||about:||||||||||||||||| |~|the charity's||principal|||||||||||||||| ||sources offunds||||(including|||||||||||||| ||any fundraising);|||||||||||||||||| |~|how expenditure||||has|||||||||||||| ||supported
the|||key objectives||||||||||||||| ||ofthe|charity;||||||||||||||||| |~|Relevant
investment|||||policy||||||||||||| ||||||||~
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