One major disappointment in 2003 was the sale of land which would have enabled us to extend our area of activity near our work sites beside the Tamworth Road in Lichfield. We had been in discussion with the owner for a number of years but were unable to offer him the sort of money he wanted. After we had invested many long hours in discussion with him and with other parties willing to help us buy the area we wanted, the property was sold at auction for a sum way beyond everybody's expectations. We are now in the process of establishing contact with the new owner so we can start discussions all over again.

We have identified, and established contact with, 4 additional landowners on the Hatherton route, 3 of whom have agreed to co-operate with us. One of these, the Staffordshire County Council, which owns extensive land on both sides of the A5(T) near Great Wyrley has most generously agreed to convey to us however much of their holding we need for the new canal channel for the token sum of £1.00.

LOOKING AHEAD
The completion of these three purchases will be our immediate concern in 2004. On the Lichfield Canal we are in discussion with landowners about the terms for buying 5 further parcels of land. Some of these negotiations have been progressing (and at times not progressing) for a number of years but we will press on as best we can. There is no doubt that the publicity we have received over the completion of the M6(Toll) aqueduct and the Churchbridge tunnels has benefited our land programme as landowners who have in the past had doubts about our ability to complete the restorations have come to realise that we are a serious business and that dealing with us might even be to their advantage. We have recently established relationships with some landowners who previously did not wish to even discuss our aspirations with them

FUNDING
The rate at which we can make progress is, of course, limited by our ability to raise the funds needed, but with our new 'Regular Giving Scheme' fund-raising appeal, which provides donors with the option to elect to contribute directly to the Land Fund, we hope to be able to devote a greater proportion of our resources to land acquisition now that the enforced expenditure on the M6(Toll) projects are behind us.

Members may like to understand the deliberations that go into deciding how much of their valued contributions are committed to land purchase. In my discussions with the landowners I try to establish what their expectations are whilst making it clear that, as a charity, the Trust cannot meet excessive demands, however enthusiastic we might be about acquiring a particular area of land. Where we feel it appropriate we obtain a professional valuation before making an offer, though for small plots or where agreement seems possible at a reasonable price, we do not - some professional valuers have a minimum charge of £500.00 and this can represent a significant addition to the bill. I then have the problem of persuading my fellow Directors that we should make an offer to purchase at a certain price. This is often a more daunting process than my negotiations with the landowner. I can assure any Members who might fear that their donations are profligately expended that this is far from the case. Some of my colleagues argue passionately for a lower figure as a matter of principle on the assumption that no landowner will ever admit the true value of his property and is bound to be attempting to extort utterly unreasonable monies from our hard won coffers. It can be very frustrating, having arrived at a figure which I believe the landowner might well be prepared to accept, to have to write a letter of offer on behalf of the Trust which I feel sure will be rejected. So, I can assure our readers that their contributions to our cause are jealously guarded and carefully expended and if the process takes longer than ideal, so be it.

More Good News
My invitations for volunteers to join a 'Green Team' published in the last three issues of Cut Both Ways have resulted in a good response. In December eight Trust members met to introduce themselves and agreed to set up a Green Agenda. A further four are set to join us soon. The moral here is to caste seed wide and be patient - some will take root.

We envisaged nothing too formal, just a group of members interested in plant and wildlife regeneration along the canal routes.

To avoid clashing with other working parties we suggested setting aside the second Sunday in each month for routine tasks such as, planting, grass cutting, weed control and scrub bashing. However as some of us are retired (work not being permitted to interfere with canal restoration) and provided access to our sites can be organised, team members can complete some jobs on weekdays.

This is better suited to our work as nature rarely follows a convenient monthly timetable (We all know what it is like trying to cut long grass on a wet Sunday afternoon!).

We hope to produce seasonal agendas and work plans to gradually replant and recover some of the original canal side environment: So much was lost when the Canals were abandoned and vandalised.

Balance Sheet assets now include land purchased at Norton Hall Farm from the ERDF grant as part of the proposed new diversionary route for the Hatherton Canal. Other land dealings explained by Mike Smith elsewhere in this issue are either still in course or form part of the Lichfield Canal, Cappers Lane Bridge project which falls into the ownership of Staffordshire County Council. Within that SCC contract, part of the ERDF grant allocated for Hatherton Canal "construction" has been used to acquire a quantity of pre-cast concrete culvert segments. These will be held temporarily by the Trust until SCC use them in the future to install under roads crossing the route.

Despite insistence by Government Office for the West Midlands that eligible expenditure qualifying for ERDF claims in 2003 had to be fully defrayed, they have nevertheless invoked a clause by which 10% of the grant payment is retained pending project completion and satisfactory audit - perhaps in a year or two! Under our Agreement with British Waterways to manage the ERDF Hatherton Canal Studies and Reports project, we are liable for funding part of the outstanding cost by alternate means in the short term. Additionally, Cappers Bridge costs indicate a funding shortfall of up to £50,000, depending on contract details, Both of these need to be met in the Spring of 2004.

In the notes to the accounts, we are grateful to Sir John Smith for confirming that the balance from the Manifold Trust grant of £250,000 remains available. Also, the Trust has obtained approval for VAT Registration with some retrospection which will enable us to reclaim a net amount of VAT after professional fees and adjustment to the ERDF grant which was approved on a VAT-paid basis. Introduction of VAT will affect some transactions from now on.

1. Apologies
2. Minutes of the 13th Annual General Meeting 26/04/2003
3. Matters Arising
4. Directors' Report
5. Treasurer's Report and Presentation of Accounts for the year ending 31st December 2003
6. Chairman's Report
7. Election of Directors:

   (a) Directors retiring by rotation and eligible for re-election:
   	Brian Kingshott
   	Stephen Pitt
   (b) Directors co-opted during year and nominated by Council for election:
   	Mike Battisson
   	Michael Brown
   	Peter Magee
   (c) Any other nominations received

8. Appointment of Auditor: West - Chartered Accountants
9. Consideration of a Resolution proposed by Council that:

   The annual subscription rate for Concessionary Membership (available to Junior, Student, Retired, or Unemployed members) is raised to £6 from 1st May 2004 for new members and from the next renewal date for existing members

10. Any Other Business

Note 1: A member entitled to attend and vote is entitled to appoint a proxy. A Form of Proxy can be obtained from the Acting Company Secretary (Bob Williams), to whom they should be returned at least 48 hours before the time appointed for the meeting.

Note 2: A summary of the 2003 Annual Accounts, subject to audit, is included in this magazine (Click here for accounts). Any member wanting a copy of the full accounts in advance of the meeting should contact the Treasurer, Bob Williams.