Charities supported by Shetland Charitable Trust (SCT) will benefit from grants of up to £9 million next year, trustees have confirmed.
The spend for 2024/25 remains at the level planned previously despite the seesawing of SCT reserves on the world stock markets.
Trustees at last Wednesday’s board meeting heard that the invested funds stood at £390m last week, up from £377.9m at the end of September.
SCT chair Robert Leask said: “This is encouraging because we have seen significant fluctuations in recent months.”
The agreed £9m grant payout will help keep 28 local charitable services running, including the rural care centres, leisure centres and swimming pools, heritage services, cinema and arts venue, a variety of support services and small voluntary organisations.
The main change to SCT’s spending plans for next year is the revising of its Capital Grant Scheme which funds repairs and improvements to major public buildings. The £12m fund was expected to be spent over three years with £6.8m earmarked for 2024.
But increased building costs and difficulties getting the work done in Shetland has disrupted the plans. Trustees heard that the scheme is to be revised to take account of the delays and logistical problems.
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