The Trustees came into existence in April 1974, when the old Retford Borough Council was abolished and merged with other areas to form the new Bassetlaw District Council. The Trustees was formed to safeguard the civic traditions of the former Borough of Retford including the election of a Town Mayor, and to maintain the civic regalia and the “Town Plate”, which is a collection of gifts and artefacts that were donated to the Town during its days as a Borough.

The East Retford Charter Trustees consists of all Bassetlaw District Councillors elected to represent wards contained within the former Borough of East Retford. Once elected to Bassetlaw District Council, those councillors are automatically appointed as Charter Trustees and are eligible to become Mayor.

The role of the Trustees and Mayor is purely ceremonial. The Mayor acts as an ambassador for the town and undertakes hundreds of functions of public relations and of a charitable nature during a year in office. Today the same importance is attached to the election of Mayor as has been for hundreds of years, although the powers of the Town Mayors are much more limited than of old. The first Mayor of East Retford was elected in 1836 and there has been an election of a Town Mayor each year since then.

The Charter Trustees is funded entirely via local taxation and has the power to levy a Council Tax precept on households within Retford.