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Description

11. All moneys received by the Governors under or for the purposes of this Scheme shall, subject to the other provisions of this Scheme, and to any agreements for the time being existing between the Governors and the Masters, and also to any special trusts or conditions upon which any part thereof has been or may be received, be expended and applied for the following purposes, or for such and so many of them as to the Governors for the time being shall seem expedient:- (a) To maintain the buildings, furniture, appliances, and premises of the Institution in good order and condition, and to make such additions thereto, and improvements therein, as may be required from time to time. (b) To pay all rents, taxes, cost of insurance, and other charges, necessarily or properly payable out of or for the said premises, and to defray the necessary working expenses of the Institution and cost of management. (c) To provide for the education of the pupils; for this purpose the Governors may employ and pay such Masters, Professors, Lecturers, and other Teachers as they may deem it expedient to engage for the instruction of the pupils. To provide and assist in providing pensions or retirement allowances for the Masters, Professor, Lecturers, Teachers and Officers in their employment, and to provide or assist in providing gratuities or charitable allowances for the widow and children (if any) of any Master, Professor, Lecturer, Teacher or Officer, or to a near relative or near relatives immediately dependent upon him during his life, and to set aside such part of the annual income of their endowments (not exceeding ten per cent of the amount of salaries paid annually to such Masters Professors, Lecturers, Teachers and Officers) as they may think fit for the purpose of forming a fund for such purpose or purposes, and to enter into such arrangement which an Insurance Company or Companies as to them may seem expedient and to adopt such rules or regulations for all or any of the purposes aforesaid as to them may seem expedient; which said rules or regulations may provide that the benefits thereof shall be conditional, on contribution being made thereto by the said Masters, Professors, Lecturers, Teachers and Officers, and to alter or amend such rules or regulations from time to time as they may consider necessary. (d) To provide prizes for the most deserving pupils; such may be awarded in such manner as the Governors may deem best calculated to stimulate the industry, reward the diligence, or promote the progress of the pupils. (e) To provide and maintain a suitable Library, Museum and Gymnasium and such other educational appliances as the Governors shall deem requisite or beneficial from time to time. (f) To pay such contributions and other sums as the Governors may from time to time be required to pay under the provisions of the Local Government (Superannuation) Act (Northern Ireland), 1950, and the regulations made there under. (g) To defray the expense of carrying out the other purposes of this Scheme.

CCNI Charity number

108024

Registered

19 April 2021

Postcode

BT1 6DL

Website

rbai.org.uk

Domain

rbai.belfast.ni.sch.uk

Latest income

£9,787,291 (on 31 March 2023)