Thoughts of a Treasurer
Reflecting on the ups and downs in my five years as treasurer of SWBT, there is no doubt about the main “up”, and that was the arrival of a generous legacy of the late Margaret Richards. The monies arrived painfully slowly, but trustees were able to plan in the knowledge that they would come eventually! Some grand plans were mooted, but the timing of the legacy could not have been better, as it enabled us instead to manage over the Covid pandemic far more effectively than would have been the case in its absence. Grand plans had to be put aside, but much of the legacy monies were put to good use helping struggling social workers, reflected by a huge increase in applications. So, clearly the main “down” during my tenure as treasurer has been the impact of the pandemic.
Some of the legacy funds were added to our investments. Trustees have had lengthy debates about the size of our investments: should they be used to be more generous in grants paid to applicants, or should they rather continue to be a useful addition to our income? The latter conclusion has prevailed, in the knowledge that, if we eat into the investments to help applicants now, we will inevitably have to be less generous in the future as the investments become more depleted.
The primary change in our investment strategy was the decision to put our funds in the Climate Assets Fund. We took advice and it has been a positive move. Trustees thought carefully about whether the fund fitted with our ethical requirements, and certainly any investment in tackling climate change is welcomed. It is also a good investment from the trust’s point of view because business focused on making the planet greener is a growth industry at present. Long may it stay so, I say!
Simon Scott, SWBT Treasurer
March, 2025