At the Council’s budget-setting meeting, it was announced that an agreement had been reached with the Bromley Youth Music Trust (BYMT) regarding the final phase of the council’s reduction in funding for the trust.
The proposed cut in funding for 2015/16 of £230,000 was scaled back to £153,000. The proposed full withdrawal of the direct grant for 2016/17 remains, however the existing peppercorn rent for the Southborough Lane site – equivalent to some £200,000 per annum – also remains until the end of the lease in April 2017.
In addition, the Trust is responding more positively to the Council’s efforts to assist them in securing more sources of funding from elsewhere. The agreement should set the scene for a successful transition for the Trust to greater independence from the Council without compromising its nationally recognised reputation for youth music.