Decision details

Funding Agreement to support Russell-Cotes Art Gallery & Museum to become an Independent Trust

Decision Maker: Russell Cotes Art Gallery and Museum Management Committee, Cabinet

Decision status: Recommmend Forward to Council

Is Key decision?: No

Is subject to call in?: No


To secure the Financial settlement between BCP Council (current sole trustee of the Russell-Cotes) and the new Corporate Entity which will become the new sole trustee and take responsibility for the charity. This accompanies the agreement for the governance change, administered through Charity Commission and Parliament, approved at BCP Council meeting on 10 Jan 2023.


RECOMMENDED that Council approve: -

(a)           An upfront grant of £2million to enable the Russell-Cotes to establish themselves as an independent organisation

(b)          Asset Transfer of the study centre, Exeter Road storage to the Charity (estimated value £500,000), subject to appropriate overage clause.

RESOLVED that Cabinet: -

(c)           Approved a one-off grant of £250,000 for building maintenance

(d)          Approved the transfer of earmarked reserves (currently £299,000 but subject to change prior to vesting date)

(e)           Delegates authority to the Director of Customer, Arts and Property to conclude the details of the transfer in consultation with the Director of Finance, Director of Law and Governance and Portfolio Holder for Customer, Culture and Communications; and

(f)            Request that the new CLG Board is encouraged to consult with the Portfolio Holder if there is consideration of disposal of assets and artefacts.

Voting: Unanimous

Portfolio Holder: Customer, Culture, Communications


To make financial provision to ensure that the governance change of the Russell-Cotes is financially and organisationally sustainable.

Report author: Sarah Newman

Publication date: 08/02/2024

Date of decision: 07/02/2024

Decided at meeting: 07/02/2024 - Cabinet

Accompanying Documents: