G R A N T S , AWA R D S A N D R E S T R I C T E D F U N D S
Grants, Awards and Restricted Funds GRANTS POLICY
RESTRICTED FUNDS
The Trustees’ policy is to donate the majority of the investment income and past growth on the investments to Truro School to help it meet the cost of bursaries awarded to pupils under its own assisted places scheme. Permission has been granted by the Charities Commission to sell any Investments held and transfer the proceeds to Truro School by way of a grant, should the Truro School Foundation Trustees permit.
Restricted Funds are made up as follows:
PROCEDURE FOR AWARDING BURSARIES Truro School Fee Remission Committee will make recommendations to the Foundation Trustees, in line with the Foundation Award guidance criteria. Awards will be made to individuals likely to benefit considerably from, and flourish in, the Truro School environment. The application process will consist of; entrance examination; a supportive reference from the applicant’s current school (if available) and an interview with the Head or Head of Admissions. All applications are subject to the School’s means testing assessment process, carried out by the Finance Department. As part of the financial assessment, there may also be a visit to the family home.
A legacy to be used for a scholarship in the name of Mr William Andrew, which will enable pupils to come to Truro School and study Art of £60,000 received in 2006. A donation from the Truro School Former Pupils Association of £14,266 received in 2017, for the purpose of allowing Sixth Form students, receiving a Means Tested Bursary, to travel to universities to attend interviews, open days, etc. This was valued at £11,644 in 2021, (2020 £12,494). A grant from The Bishopsdown Trust which will allow a chosen Truro School pupil to benefit from additional music lessons. This totalled £600 (2020 - £0). One Hundred Pounds of this fund also relates to a donation which was received with the strict expression to be paid to help pupils pay for their Sports Kit on the Assisted Places Scheme. A donation from Mr Tim Henderson, £35,000 (2020 - £30,000) (a former pupil of Truro School), of which £30,000 is to be used specifically for Sixth Form Bursaries. The remaining £5,000 was Designated as a donation towards the Guy Dodd Appeal. The remaining balance of the Restricted Fund was generated from the 10% allocation of the Investment Earnings, and the annual movement over the years of Unrecognised Gains and Losses, created by the Investment of the Restricted funds into the Funds as managed by the TMCP.
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