The Charity Commission concluded its case into Coventry City of Culture Trust, finding that the former trustees' failure to maintain effective oversight of the charity's finances amounted to misconduct and/or mismanagement, according to the regulator's 4 September 2026 press release. The Commission cited inadequate budgeting and financial planning during the COVID-19 pandemic, overreliance on the executive team for financial decisions, failure to properly scrutinise financial sustainability, and failure to report material financial risks and the loss of key funding in a timely manner. It found no evidence of misuse of charitable funds or of payments to connected parties.

The Trust was set up to oversee Coventry's bid to be UK City of Culture in 2021 and to run subsequent events in 2022 and 2023. The Commission said the charity may have been insolvent before taking a £1 million loan from Coventry City Council in October 2022, and it subsequently entered administration with a debt to the council of just over £1.5 million. The Commission accepted the pandemic was a significant contributing factor but said it did not fully explain the collapse. The charity has been removed from the register following liquidation.

The Commission said it has limited legal ability to act against wound-up charities or former trustees except in the most serious cases. Tracey Rollock, Head of Regulatory Compliance, said the trustees' stewardship of public money fell short and the findings should remind other trustees of the importance of financial diligence.