Recently the PCC benefitted from the very generous bequest of Beth and Marian Viney. We were left the house in the High Street, Arlesey, and a sum of money.
The terms of the will state that the income from the bequest (but not the capital) is to be spent on the maintenance and repairs of St Peter's Church.
The PCC has two roles to perform with respect to this bequest*;
A Managing Trustees for the assets
B Recipients of the income from the Trust
These two roles require PCC members to wear 'two hats', as it were, as the two roles are quite different.
A Managing the trust; there is a legal obligation on the trustees to maximise the return on the investment as making a return is the only purpose for the trust as specified in the will.
B Spending the income from the trust; the PCC has to allocate the income to the cost of repairs and maintenance of the church fabric in a prioritised order
For more information please contact; firstname.lastname@example.org
*NB Ownership of the assets of the trust is vested in the St Alban's Diocesan Board of Finance in accordance with the terms of the Will and the Parochial Church Councils (Powers) Measure 1956.