(1st December 2009). - Trafford College

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Minute No. RES/48/2009 Draft Report and Financial Statements 2008-2009 The Vice Principal Corporate Planning presented a report which included the Draft Report and Financial Statements for 2008/2009. The Committee noted that the external auditors had completed their testing of the Statements and that there were no outstanding issues to be resolved prior to the finalisation and signature of the accounts. The Committee also noted that the Report and Financial Statements would be considered by the Audit Committee prior to recommendation to the Board of the Corporation. The Committee considered the Draft Report and Financial Statements and in particular noted that: • the only change to the draft accounts submitted to the Committee at its last meeting was £ 21,000 of additional charges to the enhanced pension provision; • the final operating deficit for 2008-2009 was £1,465,000; • the key points arising from the income, pay and non pay expenditure, balance sheet, liquidity and cash flow position and the key financial indicators at 2008-2009; • the identified principle risks and uncertainties; • the disclosure of information to auditors. In discussion the Vice Principal Corporate Planning commented that the Statements did not include any commentary with regard to the Financial Health of the College and drew the Committee’s attention to a letter that she had recently received from the LSC with regard to the matter. The Committee noted that the LSC had indicated in their letter that their assessment of the financial grading of the College for 2009-2010 was satisfactory. The Vice Principal expressed to the Committee her confusion and extreme disappointment at this inappropriate assessment and outlined to the Committee why it was the College management’s view that the grading should be Outstanding. The Committee noted that officers from the LSC were meeting the officers of the College on 9 December 2009 in order to discuss the position. The Committee expressed the view that they wholeheartedly supported the Vice Principal both professionally and with regard to the College’s self assessment position and noted that the Vice Principal would provide a report on the up to date position at the Board of the Corporation meeting on 16 December 2009. The Committee wished the College officers well in their discussions with the LSC. Action: Vice Principal Corporate Planning After due consideration of the report and some proposals to minor wording changes to the statements the Committee resolved that it be noted. C2.15/JBW/ML/04.12.2009 Version 2
Minute No. RES/49/2009 Management Accounts for the 3 months ending 31 October 2009 The Vice Principal Corporate Planning presented a report which presented the management accounts for 3 months ending 31 October 2009. The Committee were very pleased to note that the operating surplus was £257k higher than budget at £287k. The Committee in considering the accounts discussed the following matters: • the College approach to sustainability issues and the savings on costs could be achieved in this area; • investment in Information Technology; • the cultural change in the approach to spending; • the management actions and processes that had been put in place in order to strictly control pay costs (including agency costs). After due discussion the Committee congratulated the managers on an excellent set of accounts and resolved that they be recommended to the Board of the Corporation for approval. RES/50/2009 Summary of Payments of at least £15,000 Action: Board of the Corporation The Vice Principal Corporate Planning’s report identifying payments made during October 2009 that had a value of at least £15,000 was received and noted. It was resolved that future reports should only include payments greater than £50,000. Action: Vice Principal Corporate Planning RES/51/2009 Annual Report on Spending & Procurement 2008-2009 The Vice Principal Corporate Planning’s report detailing expenditure and procurement for 2008/2009 was considered by the Committee. After due consideration and discussion it was resolved that the report be noted. RES/52/2008 Learner Numbers and Funding 2009-2010 – November 2009 The Vice Principal Corporate Planning presented a report detailing the College’s learner numbers and funding position for 2009-2010 and any consequential impact on income. The Committee noted that the up to date position with regard to the different categories of learners and the anticipated achievement of targets for the year. In particular the Vice Principal Corporate Planning drew members’ attention to the current underperformance in respect of 16 to 18 and 19 to 25 employer responsive provision and outlined the discussions that had recently taken place with the LSC staff who are transferring to the SFA. After due consideration and discussion it was resolved that the report be noted. C2.15/JBW/ML/04.12.2009 Version 2
Page 1: Meeting of the Resources Committee

(1st December 2009). - Trafford College

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