AT AN INQUORATE MEETING of the FINANCE & GENERAL PURPOSES COMMITTEE held in the College on MONDAY 25 OCTOBER 2010 at 6.00 p.m. Present P Fisk J G Moorley and A Townsend. Also in attendance L Oliver (Clerk) N Brewster N Davison and S Ruddock (Directorate) and L Heighton (Director of Finance). Although the meeting was inquorate we discussed the following reports and where appropriate have made recommendations to the Corporate Board – a)
Financial Planning
We considered a report on how the Committee might take forward the principles of the FIP Monitoring Group into the review and monitoring of preparations for future changes in the College’s funding arrangements. Proposed that a Financial Planning Group be established as soon as possible to carry forward this task and should look at the following – Needs analysis Capacity for improvement Collaboration, sub-contracting and partnerships Shared services, merger, federation and other business models Level of borrowing Financial modelling We were of the opinion that the Search and Governance Committee should consider this item before the next Corporation meeting. In addition skilled members should be encouraged to assist with the process and that a Committee with similar membership to that of the Search & Governance Committee would be required. In view of the fact that the Principal was not present at the meeting it was considered inappropriate to come forward with detailed proposals but nevertheless we considered it necessary to make a recommendation to the Board on this matter given the new financial climate that the College will be operating in. We would therefore RECOMMEND that the Board establishes a Committee to be tasked with considering strategic options and with delegated powers in order that quick responses can be made to the changing financial situation that the College will become subject to. b)
Draft Financial Statements
We considered a report on the Draft Financial Statements for the Year ended 31 July 2010. The Draft Financial Statements together with a Note on Pension and Similar Obligations were attached to the report.
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We RECOMMEND the Board to approve the draft Financial Statements for the year ended 31 July 2010. c)
Learner Responsive Provision and HE Progress to Target 2010/11
We discussed a report on Learner responsive provision and HE progress to target 2010/11. The report commented on the following – 16-18 year olds Adults (19 plus) Higher Education We were informed that failure to reach targets would impact on funding next year but the situation with regard to the clawback of funding in the current year if targets were not met was not clear. We were also informed that courses were being re-aligned to suit learners needs as a means of achieving targets. d)
Employer Responsive Update
We discussed a report on Employer Responsive performance issues as follows – Train to Gain Apprenticeships Partnership arrangements Enhances Train to Gain Full Cost income target 6th month unemployed Development of the Skills Centre Young persons Guarantee Programme Construction Skills Approved Centre Curriculum development Official opening of the Skills Centre With regard to partnership arrangements the SFA have indicated that they are keen to see Colleges continue to work in partnership with other providers we RECOMMEND the Board to approve the following list of partners in order that the College can work towards meeting the Employer Responsive allocation – Profound New Generation Training Solutions Food and Drink Training J & K Training
To deliver Road Passenger Transport To deliver Spectators Safety To deliver Food Manufacture To deliver Skills for Life
as the partnerships are well established and the providers all achieved good success rates on 2009/10 fro the College.
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e)
Financial Report to July 2010
We noted the Financial Report to July 2010 which based on the Draft Final Accounts 2009/10 previously considered. The following were attached – Income and Expenditure Account Balance Sheet f)
Work Place Travel Data
During our discussions we took note of Work Place Travel Data that had been provided by A Townsend.
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