Issue - meetings

The Charity Commission and Department for Culture, Media and Sport (DCMS) have agreed to the Russell-Cotes charity giving Public Notice of the Scheme in the next step of the governance change. DCMS and Charity Commission have indicated that they are working towards a  vesting day of 1 April 2026 but it is subject to parliamentary time.

Other work is being progressed such as arrangements for the transfer of assets, TUPe of staff etc with the new corporate trustee, RCAGM Sole Trustee Ltd.

BCP Council presumed a 1 October 2025 deadline for externalisation which has now been exceeded. Consequently, there is no revenue budget for the museum beyond 30 September 2025 and the council proposes that the lump sum of £2.25million agreed for the new entity to give it time to become financially sustainable, be used from 1 October to fund the Museum’s revenue costs from this point whilst still within the Council.

However, the report outlining the financial deal, which was agreed by Cabinet on 7 February 2024 and by full Council on 20 February 2024 recognised that Vesting Day might be on 1 October 2025 but could take as long as 1 April 2026.

The Board of RCAGM Sole Trustee has expressed its concern at the council’s position that funding should cease and requested a meeting with the Chief Executive to discuss the serious implications of this on the future viability of the externalised museum.

The Director of Customer and Property presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'D' to these Minutes in the Minute Book.

This item was taken first at the Chair’s discretion. 

The Charity Commission and Department for Culture, Media and Sport (DCMS) have agreed to the Russell-Cotes charity giving Public Notice of the Scheme in the next step of the governance change. DCMS and Charity Commission have indicated that they are working towards a vesting day of 1 April 2026 but it was subject to parliamentary time.

Other work was being progressed such as arrangements for the transfer of assets, TUPe of staff etc with the new corporate trustee, RCAGM Sole Trustee Ltd.

BCP Council presumed a 1 October 2025 deadline for externalisation which has now been exceeded. Consequently, there was no revenue budget for the museum beyond 30 September 2025 and the council proposed that the lump sum of £2.25million agreed for the new entity to give it time to become financially sustainable, be used from 1 October to fund the Museum’s revenue costs from this point whilst still within the Council.

However, the report outlining the financial deal, which was agreed by Cabinet on 7 February 2024 and by full Council on 20 February 2024 recognised that Vesting Day might be on 1 October 2025 but could take as long as 1 April 2026.

The Board of RCAGM Sole Trustee has expressed its concern at the council’s position that funding should cease and requested a meeting with the Chief Executive to discuss the serious implications of this on the future viability of the externalised museum. It was stated that when the agreement was made it was done so in good faith and the Council position had changed.

The future of the museum being a separate was in doubt with the funding issue as money was needed to complete the externalisation.

RESOLVED that

The Management Committee

a)       note the progress on the Scheme and Order of State

support the request for an urgent meeting for the Chair with the Chief Executive to ensure that the financial agreement made by Council in February 2024 is honoured to ensure the viability and financial sustainability of the Russell-Cotes in the future

The committee added:

It is the collective view of the Management Committee the proposed setting of the RCMAG vestiture budget against the agreed financial settlement was an obligation of the agreement with BCP and was rejected.

Voting: Unanimous