Finance Committee Meeting Minutes Wednesday 23 Nov 2011

FINANCE COMMITTEE(AGREED – Finance Committee – No Change November 2011)MembershipThe Committee shall consist of no fewer than four governors plus the HeadteacherThe Committee shall have such non-voting members as the Governing Body shall appoint.The Committee may make recommendations for these appointments.QuorumThe quorum shall be 50% of the committee, rounded up to a whole number. The Committeeshall not meet without the Headteacher being present or a substitute nominated by him or her.The Headteacher or his nominated representative has voting rights.MeetingsThe Committee should meet at least once per half term and otherwise as required.Terms of Reference1. To consider the financial aspects of particular matters specifically referred to theCommittee.2. To consider in detail the distribution of the budget in relation to the management anddevelopment plans of the School and to present an annual budget to the Governing Bodyfor approval.3. To monitor income and expenditure during the financial year and report termly on thefindings of such monitoring to the Governing Body.4. To establish priorities for expenditure and to ensure that these support schoolsmanagement and development plans and targets for action.5. To report to the Chair of the Governing Body and the Headteacher of the school, mattersthat may require urgent action or consideration by the Governing Body.6. To consider actual expenditure for the end of the financial year and to advise the GoverningBody on any under/over spending of budget heads.7. To indicate the anticipated level and proposed future use of any unallocated funds, forconsideration and approval by the full Governing Body.8. To ensure that the County Council's LMS Financial Regulations and Standing OrdersRelating to Contracts are complied with at all times. The Finance Committee maydevelop/review/modify additional Standards for the control and management of schoolfunds but such regulations are sub-ordinate to and must comply with the RegulationsP:\staff\0 - HEADTEACHER\Governor Information\Minutes\Finance Nov 23.doc

REVISED BUDGET EXPENDITURE/INCOME %EMPLOYEES 2011-2012 AS AT 31 Oct 2011 58.33Teachers £ 3,548,500.00 £ 2,211,603 62.33Supply £ 58,000.00 £ 25,158 43.38Class support (Techs/SEN) £ 648,500.00 £ 389,894 60.12Administration/Libr/Cover £ 359,500.00 £ 220,444 61.32Pastoral £ 133,000.00 £ 67,250 50.56Premises £ 68,000.00 £ 38,961 57.30Cleaners £ 130,000.00 £ 68,746 52.88Mid-Day Supervisors / staff duties £ 34,000.00 £ 14,802 43.54Recruitment Expenses £ 5,000.00 £ 2,324 46.48Training £ 6,500.00 £ 1,552 23.88PREMISESMinor Works £ 69,500.00 £ 6,265 9.01Health + safety /Tree safety £ 12,500.00 £ 1,121 8.97Energy £ 110,000.00 £ 15,254 13.87Rates £ 107,500.00 £ 53,896 50.14Water £ 30,000.00 £ 7,388 24.63Personal Hygiene £ 6,000.00 £ 1,135 18.92Refuse £ 9,200.00 £ 3,736 40.61Post £ 9,200.00 £ 4,489 48.79Telephone £ 15,500.00 £ 4,945 31.90Cleaning materials/equip £ 5,000.00 £ 1,171 23.42OTHER EXPENSESCapitation + Action plan £ 188,693.00 £ 97,122 51.47Equip. Repair / Renewal £ 11,307.00 £ 8,234 72.82Exam Fees £ 109,000.00 £ 12,585 11.55Educational Visits £ 9,000.00 £ - 0.00Transport £ 25,000.00 £ 21,153 84.61Governors £ 600.00 £ 333 55.50Priory Project £ 44,800.00 £ - 0.00I.T.Network/Computers £ 40,000.00 £ 32,316 80.79All Risks Insurance £ 4,000.00 £ - 0.00Vocational/Offsite (GreenL/PRU) £ 270,000.00 £ 80,293 29.74Projects £ 1,758.00 £ - 0.00S.L.A'sPeripatetic Music £ 53,732.00 £ 27,377 50.95Buildings Rep.Maint. £ 140,809.00 £ 81,319 57.75Grounds Maint £ 12,077.00 £ 6,188 51.24School Meals £ 70,712.00 £ 43,838 62.00Admin (Legal/pay/pers./Visit Ins) £ 26,725.00 £ 13,666 51.14Contingency £ 3,926.23 INCOMETotal £ 6,377,539.23 Rent £ 3,270Grants £ 12,105Est Income £ 46,545.00 Staff re-imbursement £ 59,366Formula Funding £ 6,197,110.00 Misc £ 9,665Brt Forward £ 133,884.23 Interest £ 186Total Available £ 6,377,539.23 Total £ 84,592P:\staff\0 - HEADTEACHER\Governor Information\Minutes\Finance Nov 23.doc